Trans Energy Inc. (OTC: TENG) transports, markets and produces natural gas and oil, and performs exploration and development. It's a microcap, with a market cap of abotu $3 million. Here's a description of the company's business and its opportunites from its CEO, Jim Abcouwer, excerpted from a 4/10/06 interview with The Wall Street Transcript:
We are an energy company involved purely in oil and gas exploration and the ownership and operation of pipeline gathering systems. The company was formed in 1993, so we have 12 years' experience as a very small energy company. Over those years we became somewhat diversified, getting involved through acquisitions in the oilfield service sector and in pipeline construction in addition to our original exploration and development business.
Over the past year we re- evaluated the company and determined that the greatest opportunity for growth and profitability was in the development of oil and gas, drilling wells, producing wells and owning and operating the pipeline gathering systems that are affiliated with those wells. We are divesting all of the businesses outside our core exploration and development business. We expect to complete the sale of the final one, Arvilla Oilfield Services very soon.
In 2006, we will be a pure oil and gas E&P company with the focused strategy I spoke about. I came on board at the beginning of January as President and CEO to lead a change in strategic direction for the company. The three principal managers of the company are myself, Vice President Loren Bagley and Secretary/Treasurer Bill Woodburn.
I started in the energy business in 1982 as a manager in the wireline business -- that is, doing electric logs and perforating wells. I went on to manage the marketing operations for a wellhead equipment company, gas contracting for an interstate pipeline system with Tenneco, and ran utility and storage operations at NiSource. When I headed up Columbia Natural Resources, an exploration and production company, I decided that this was the sector with the most opportunity. Since then, I have grown a small exploration and production company operation by over 500%. I believe Trans Energy can do even better over the next several years.