Assets and Liabilities Held For Sale	9 Months Ended
Sep. 30, 2016
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Assets and Liabilities Held For Sale	NOTE 4 — ASSETS AND LIABILITIES HELD FOR SALE On April 3, 2015, Trans Energy, and its wholly owned subsidiaries American Shale and Prima, along with Republic Energy Ventures, LLC, Republic Partners VIII, LLC, Republic Partners VI, LP, Republic Partners VII, LLC, and Republic Energy Operating, LLC (collectively, the “Sellers”) entered into a Purchase and Sale Agreement (the “PSA”), pursuant to which the Sellers agreed to sell certain interests located in Wetzel County, West Virginia, including 5,159 net acres held by the Company and the Company’s interest in twelve Marcellus producing wellbores, to TH Exploration, LLC (“Buyer”). On July 30, 2015, the Buyer elected to formally extend the expiration date of the PSA until August 14, 2015 (the “Extension Period”). During the Extension Period, the Buyer provided notice to the Company that the PSA would terminate on August 13, 2015. The Company believes that the PSA terminated as a result of such notice. Because of uncertainty surrounding whether the Buyer would contest the termination of the PSA along with Management’s intention to sell the underlying assets as soon as such uncertainty was definitively resolved, the Wetzel county assets were reported as assets held for sale at December 31, 2015. In January 2016, the Wetzel county assets were reclassified to proved oil and gas properties and a catch-up entry for the depletion was booked by the Company in the amount of $4,372,965. No assets were ultimately sold under this PSA. Total assets held for sale as of September 30, 2016 and December 31, 2015 were $0 and $13,460,614, respectively.

NOTE 4 — ASSETS AND LIABILITIES HELD FOR SALE

On April 3, 2015, Trans Energy, and its wholly owned subsidiaries American Shale and Prima, along with Republic Energy Ventures, LLC, Republic Partners VIII, LLC, Republic Partners VI, LP, Republic Partners VII, LLC, and Republic Energy Operating, LLC (collectively, the “Sellers”) entered into a Purchase and Sale Agreement (the “PSA”), pursuant to which the Sellers agreed to sell certain interests located in Wetzel County, West Virginia, including 5,159 net acres held by the Company and the Company’s interest in twelve Marcellus producing wellbores, to TH Exploration, LLC (“Buyer”). On July 30, 2015, the Buyer elected to formally extend the expiration date of the PSA until August 14, 2015 (the “Extension Period”). During the Extension Period, the Buyer provided notice to the Company that the PSA would terminate on August 13, 2015. The Company believes that the PSA terminated as a result of such notice. Because of uncertainty surrounding whether the Buyer would contest the termination of the PSA along with Management’s intention to sell the underlying assets as soon as such uncertainty was definitively resolved, the Wetzel county assets were reported as assets held for sale at December 31, 2015. In January 2016, the Wetzel county assets were reclassified to proved oil and gas properties and a catch-up entry for the depletion was booked by the Company in the amount of $4,372,965. No assets were ultimately sold under this PSA.

Total assets held for sale as of September 30, 2016 and December 31, 2015 were $0 and $13,460,614, respectively.