Transeuro has contracted Armenian seismic company, AESP, to provide 131 kilometers ("km") of new seismic in the Oktemberian region, some 85 km west of Yerevan. This is the first seismic to be acquired in Armenia in more than eight years. The initial equipment testing phase has been completed and acquisition of new seismic has begun, with the aim of defining two gas prospects for the 2007 exploration drilling campaign. The initial seismic will be concentrated over the Karmir gas prospect where two old Soviet wells have produced non-commercial gas to surface, and then the survey will be extended to the West, over the 'SWOKT' structure where six old Soviet wells suggest a large shallow gas field may exist. The results of this new survey will be combined with the recently (2006) reprocessed old seismic to provide a revised structural interpretation. The acquisition program is expected to take four months and the data will then be used to finalize the drilling locations for the first two wells in the drilling program. Transeuro has 100% interest in a 1.8 million acre oil and gas license in this prospective central Asian country.
Transeuro Energy Corp. is involved in the acquisition of petroleum and natural gas rights, the exploration for, and development and production of crude oil, condensate and natural gas. The Company's properties are located in Canada, Armenia, Papua New Guinea and Ukraine.
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