Transglobal Energy Resources AG
Transglobal Energy Resources AG: Completion Rig in place : Progress advancing toward Oil Flowing
Transglobal Energy Resources AG / Miscellaneous Release of a Corporate News, transmitted by DGAP - a company of EquityStory AG. The issuer / publisher is solely responsible for the content of this announcement. ---------------------------------------------------------------------- Completion Rig in place : Progress advancing toward Oil Flowing TransGlobal Energy Resources AG is pleased with the on going progression of work on the fields in Texas on the Palo Pinto Formation. This is Well # 5 and part of the 6 well package that the Company has its working interest in. 'We are moving forward with our work schedules. We experienced shut down for a week while repairs were completed due to the multiple storms. On this large property of over 850 hectares the issues of weather have been, at times, difficult to deal with. However, good maintenance, only creates a better run operation for the future. Said H. Andrews, CEO. H. Andrews continued: ' The completion rigs are also used as maintenance rigs. The idea is that since there are now two deep completion rigs running, one can be used for storm maintenance and one for completions. This is a big project, and we expect by late fall that both rigs can be used for completion rigs and really pick up the drilling and completion pace. We will also have two drilling rigs running them.' TransGlobal Energy Resources AG is a Swiss Based company engaged in Enhanced Secondary Recovery (ESR) of Oil and Gas in North America. Through the deployment of ESR, TransGlobal's mission is to capture the value of Oil and Gas reserves that were previously discovered but not fully produced and left behind. For Further Information Contact: Vinetta Makkreel - President Contact via Email: vmakkreel@transglobalenergyresources.com http://www.transglobalenergyresources.com Information presented in this Press Release constitutes neither an offer to buy or sell securities and contain 'forward looking statements' within the meaning of Section 27A of the U.S. Securities Act of 1933 and Section 21B of the Securities Exchange Act of 1934. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, goals, assumptions or future events or performance are not statements of historical fact and may be 'forward looking statements.' 30.07.2009 Financial News transmitted by DGAP ----------------------------------------------------------------------
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