CANADIAN COMPANY LOOKING FOR NATURAL GAS IN ARMENIA

The Messenger, Georgia
Aug 15 2007

Canadian company Transeuro Energy will start exploring a natural gas
field in the Armavir region of Armenia from August 22, reports the
news agency Regnum.

The preliminary project will last three to four months at a cost of
around USD 10 million. If initial test drills are encouraging the
company will increase its investment.

Current geological data suggests significant natural gas reserves
in the field, but technical feasibility studies are needed before a
major extraction operation is commissioned.

A discovery of large reserves could change the geopolitical map of
the South Caucasus, experts predict.