Transeuro Energy starts drilling in Armenia

Transeuro Energy Corp., an explorer having properties in Canada, Armenia, Papua New Guinea and Ukraine, has announced the commencement of drilling operations in Armenia.

Drilling has started on the Karmir prospect in the Armavir region of Block 2, Armenia. Karmir-1 is the first exploration well to be drilled in the country for ten years.

The well is targeting two horizons in the Karmir gas prospect, the Lower Sand Clay (LSC) and the Lower Multicoloured Suite (LMS), and is planned to have a total depth of 2200 meters. Drilling operations will be followed by flow-testing should hydrocarbons be discovered.

The well is located less than 3km from a new gas pipeline route forming part of a recently installed domestic gas distribution system, and the Company is in discussion with the Government of Armenia regarding early hook-up of the well in the event of a commercial discovery.