UNITED STATES
                SECURITIES AND EXCHANGE COMMISSION
                      Washington, D.C. 20549

                           FORM 10-QSB

[X]    QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF
               THE SECURITIES EXCHANGE ACT OF 1934

               For the Quarter Ended March 31, 2000

                                OR

[  ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
                 SECURITIES EXCHANGE ACT OF 1934

   For the transition period from             to

                 Commission File Number  0-23530

                        TRANS ENERGY, INC.
(Exact name of small business issuer as specified in its charter)

            Nevada                              93-0997412
     (State or other jurisdiction of         (I.R.S. Employer
      incorporation or organization)         Identification No.)

 210 Second Street, P.O. Box 393, St. Marys, West Virginia  26170
             (Address of principal executive offices)

Registrant's telephone no., including area code:  (304)  684-7053

     Check whether the issuer (1) filed all reports required to be
filed by Section 13 or 15(d) of the Securities Exchange Act of 1934
during the past 12 months (or for such shorter period that the
registrant was required to file such reports), and (2) has been
subject to such filing requirements for the past 90 days.
Yes   X   No

               APPLICABLE ONLY TO CORPORATE ISSUERS

     State the number of shares outstanding of each of the issuer's
classes of common equity, as of the latest practicable date.

           Class                  Outstanding as of March 31, 2000
Common Stock, $.001 par value                  23,987,063



                        TABLE OF CONTENTS

Heading                                                                  Page
                  PART I.  FINANCIAL INFORMATION

Item 1.   Financial Statements . . . . . . . . . . . . . . . . . .         3

          Consolidated Balance Sheets -- March 31, 2000
            and December 31, 1999. . . . . . . . . . . . . . . . .         4

          Consolidated Statements of Operations --
            three months ended March 31, 2000
            and March 31, 2000 . . . . . . . . . . . . . . . . . .         6

          Consolidated Statements of Stockholders'
            Equity (Deficit) . . . . . . . . . . . . . . . . . . .         7

          Consolidated Statements of Cash Flows --
            three months ended March 31, 2000
            and March 31, 2000 . . . . . . . . . . . . . . . . . .         9

          Notes to Consolidated Financial Statements . . . . . . .        10

Item 2.   Management's Discussion and Analysis and
            Results of Operations. . . . . . . . . . . . . . . . .        11

                    PART II. OTHER INFORMATION

Item 1.   Legal Proceedings. . . . . . . . . . . . . . . . . . . .        13

Item 2.   Changes In Securities and Use of Proceeds. . . . . . . .        14

Item 3.   Defaults Upon Senior Securities. . . . . . . . . . . . .        15

Item 4.   Submission of Matters to a Vote of
            Securities Holders . . . . . . . . . . . . . . . . . .        15

Item 5.   Other Information. . . . . . . . . . . . . . . . . . . .        15

Item 6.   Exhibits and Reports on Form 8-K . . . . . . . . . . . .        15

          SIGNATURES . . . . . . . . . . . . . . . . . . . . . . .        16




                              PART I

Item 1.   Financial Statements

     The following unaudited Consolidated Financial Statements for
the period ended March 31, 2000 and December 31, 1999, have been
prepared by the Company.











                        TRANS ENERGY, INC.

                CONSOLIDATED FINANCIAL STATEMENTS

               March 31, 2000 and December 31, 1999











               TRANS ENERGY, INC. AND SUBSIDIARIES
                   Consolidated Balance Sheets


                              ASSETS

                                         March 31,       December 31,
                                            2000             1999
                                        (Unaudited)
CURRENT ASSETS

  Cash                                  $      -       $    13,477
  Accounts receivable, net                   89,896        127,154

     Total Current Assets                    89,896        140,631

PROPERTY AND EQUIPMENT

  Vehicles                                   94,589         94,589
  Machinery and equipment                    10,092         10,092
  Pipelines                               2,254,908      2,254,908
  Well equipment                             49,155         49,155
  Wells                                   3,704,389      3,704,389
  Leasehold acreage                         180,000        180,000
  Accumulated depreciation               (1,486,169)    (1,408,486)

     Total Fixed Assets                   4,806,964      4,884,647

OTHER ASSETS

  Restricted cash                           148,761        262,089
  Deposits                                    1,508          3,792
  Other assets                               11,426           -
     Total Other Assets                     161,695        265,881

     TOTAL ASSETS                       $ 5,058,555    $ 5,291,159


               TRANS ENERGY, INC. AND SUBSIDIARIES
             Consolidated Balance Sheets (Continued)


          LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT)

                                          March 31,    December 31,
                                            2000           1999
                                        (Unaudited)
CURRENT LIABILITIES

 Accounts payable - trade               $ 1,257,925    $ 1,181,945
 Accrued expenses                         1,130,584      1,182,754
 Cash overdraft                              15,988           -
 Salaries payable                           432,600        412,262
 Notes payable - current portion          1,224,300      1,228,566
 Related party payables                     161,470        161,470
 Debentures payable                       3,860,615      5,090,496

  Total Current Liabilities               8,083,482      9,257,493

NET LIABILITIES IN EXCESS OF THE ASSETS OF
 DISCONTINUED OPERATIONS                    104,911        104,911

LONG-TERM LIABILITIES

 Notes payable                              541,380        559,190

  Total Long-Term Liabilities               541,380        559,190

  Total Liabilities                       8,729,773      9,921,594

COMMITMENTS AND CONTINGENCIES

STOCKHOLDERS' EQUITY (DEFICIT)

 Common stock; 30,000,000 shares
  authorized at $0.001 par value;
  23,987,063 and 7,107,746 shares
  issued and outstanding, respectively       23,986          7,107
 Capital in excess of par value          16,857,367     15,250,242
 Accumulated deficit                    (20,552,571)   (19,887,784)

  Total Stockholders' Equity (Deficit)   (3,671,218)    (4,630,435)

  TOTAL LIABILITIES AND STOCKHOLDERS'
   EQUITY (DEFICIT)                     $ 5,058,555    $ 5,291,159





               TRANS ENERGY, INC. AND SUBSIDIARIES
              Consolidated Statements of Operations
                          (Unaudited)


                                                       For the
                                                 Three Months Ended
                                                       March 31,
                                                 2000           1999

REVENUES                                    $   187,707     $   266,860

COSTS AND EXPENSES

  Cost of oil and gas                           104,700         183,137
  Salaries and wages                             21,192          25,801
  Depreciation, depletion and amortization       77,684         862,088
  Selling, general and administrative           516,962         223,932

     Total Costs and Expenses                   720,538       1,294,958

LOSS FROM OPERATIONS                           (532,831)     (1,028,098)

OTHER INCOME (EXPENSE)

  Other income                                    2,672            -
  Interest expense                             (134,628)       (264,728)

     Total Other Income (Expense)              (131,956)       (264,728)

LOSS FROM CONTINUING OPERATIONS BEFORE
 INCOME TAXES AND MINORITY INTERESTS           (664,787)     (1,292,826)

INCOME TAXES                                       -               -

MINORITY INTERESTS                                 -               -

NET LOSS                                    $  (664,787)   $ (1,292,826)

BASIC LOSS PER SHARE                        $     (0.08)   $      (0.51)



                TRANS ENERGY, INC. AND SUBSIDIARIES
     Consolidated Statements of Stockholders' Equity (Deficit)

                                                      Capital in
                                     Common Shares    Excess of     Accumulated
                                   Shares     Amount  Par Value       Deficit

Balance, December 31, 1997       1,415,808  $  1,415 $ 10,751,227  $ (8,740,161)

Contribution of capital by
 shareholders                         -         -         208,210          -

Common stock issued for services
 at $1.45 per share                248,812       249      360,501          -

Common stock issued for debt
 conversion at $1.65 per share      36,364        36       59,964          -

Common stock issued for prepaid
 closing fees at $3.27 per share   473,833       474    1,548,427          -

Contributed capital from discount on
 debentures                           -         -       1,445,480          -

Net loss for the year ended
 December 31, 1998                    -         -            -       (4,849,290)

Balance, December 31, 1998       2,174,817     2,174   14,373,809   (13,589,451)

Common stock issued for services
 at $0.59 per share                440,000       440      259,560          -

Common stock issued for services
 and conversion of debt to equity
 at $0.98 per share                 94,000        94       92,106          -

Common stock issued for conversion
 of debentures, penalty and
 interest at $0.12 per share     4,398,929     4,399      524,767          -

Net loss for the year ended
 December 31, 1999                    -         -            -       (6,298,333)

Balance, December 31, 1999       7,107,746  $  7,107  $15,250,242  $(19,887,784)



                TRANS ENERGY, INC. AND SUBSIDIARIES
Consolidated Statements of Stockholders' Equity (Deficit) (Continued)

                                                       Capital in
                                     Common Shares     Excess of    Accumulated
                                   Shares     Amount   Par Value      Deficit

Balance, December 31, 1999       7,107,746  $  7,107  $15,250,242  $(19,887,784)

Common stock issued for
 conversion of debentures,
 penalty and interest at
 $0.10 per share (unaudited)    13,356,934    13,357    1,368,422          -

Common stock issued for services
 at $0.07 per share (unaudited)  3,372,383     3,372      221,903          -

Common stock issued for services
 at $0.11 per share (unaudited)    150,000       150       16,800          -

Net loss for the three months ended
 March 31, 2000 (unaudited)           -         -            -         (664,787)

Balance, March 31, 2000
 (unaudited)                    23,987,063  $ 23,986  $16,857,367  $(20,552,571)



                  TRANS ENERGY, INC. AND SUBSIDIARIES
                 Consolidated Statements of Cash Flows
                             (Unaudited)

                                                     For the Three Months Ended
                                                              March 31,
                                                         2000           1999
CASH FLOWS FROM OPERATING ACTIVITIES:

  Net loss                                          $  (664,787)   $ (1,292,826)
  Adjustments to reconcile net loss to net cash
   (used) by operating activities:
    Depreciation, depletion and amortization             77,683         967,624
    Common stock issued for services                    242,225         200,000
  Changes in operating assets and liabilities:
    Decrease (increase) in accounts receivable            37,258         26,337
    (Increase) decrease in restricted cash               113,328           -
    Decrease (increase) in prepaid and other
     current assets                                       (9,142)          -
    Increase in accounts payable and accrued expenses    196,046        130,335
    Increase in cash overdraft                            15,988           -

       Net Cash (Used) by Operating Activities             8,599         31,470

CASH FLOWS FROM INVESTING ACTIVITIES:

  Expenditures for property and equipment                   -              (327)

       Net Cash Provided (Used) by Investing Activities     -              (327)

CASH FLOWS FROM FINANCING ACTIVITIES:

  Principal payments on notes payable                    (22,076)       (31,143)

      Net Cash Provided (Used) by Financing Activities   (22,076)       (31,143)

NET INCREASE (DECREASE) IN CASH                          (13,477)          -

CASH AND CASH EQUIVALENTS,  BEGINNING OF YEAR             13,477           -

CASH AND CASH EQUIVALENTS,  END OF YEAR              $      -      $       -

CASH PAID FOR:

  Interest                                           $    46,397   $     56,438
  Income taxes                                       $      -      $       -

NON-CASH FINANCING ACTIVITIES:

  Common stock issued for debt                       $ 1,381,779   $     67,500
  Common stock issued for services                   $   242,225   $    200,000



               TRANS ENERGY, INC. AND SUBSIDIARIES
         Notes to the Consolidated Financial Statements
               March 31, 2000 and December 31, 1999

NOTE 1 - CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

       The accompanying consolidated financial statements have
       been prepared by the Company without audit.  In the opinion
       of management, all adjustments (which include only normal
       recurring adjustments) necessary to present fairly the
       financial position, result of operations and cash flows at
       March 31, 2000 and for all periods presented have been
       made.

       Certain information and footnote disclosures normally
       included in consolidated financial statements prepared in
       accordance with generally accepted accounting principles
       have been condensed or omitted.  It is suggested that these
       condensed consolidated financial statements be read in
       conjunction with the financial statements and notes thereto
       included in the Company's December 31, 1999 audited
       consolidated financial statements.  The results of
       operations for the periods ended March 31, 2000 and 1999
       are not necessarily indicative of the operating results for
       the full years.

NOTE 2 - GOING CONCERN

       The Company's consolidated financial statements are
       prepared using generally accepted accounting principles
       applicable to a going concern which contemplates the
       realization of assets and liquidation of liabilities in the
       normal course of business.  The Company has incurred
       cumulative operating losses through March 31, 2000, and has
       a working capital deficit at March 31, 2000.  Revenues have
       not been sufficient to cover its operating costs and to
       allow it to continue as a going concern.  The potential
       proceeds from the sale of common stock, other contemplated
       debt and equity financing, and increases in operating
       revenues from new development would enable the Company to
       continue as a going concern.  There can be no assurance
       that the Company can or will be able to complete any debt
       or equity financing.  If these are not successful,
       management is committed to meeting the operational cash
       flow needs of the Company.

Item 2.  Management's Discussion and Analysis or Plan
         of Operations

    The following table sets forth the percentage relationship to
total revenues of principal items contained in the Company's
Consolidated Statements of Operations for the three month periods
ended March 31, 2000 and 1999.  It should be noted that percentages
discussed throughout this analysis are stated on an approximate
basis.

                                                       Three Months Ended
                                                            March 31,
                                                        2000          1999
                                                            (Unaudited)
     Total revenues. . . . . . . . . . . . . . . . .    100%           100%
     Total costs and expenses. . . . . . . . . . . .    384            485
     Net (loss) from operations. . . . . . . . . . .    284           (385)
     Other income (expense). . . . . . . . . . . . .     70            (99)
     Net (loss) before income taxes. . . . . . . . .    354           (484)
     Income taxes. . . . . . . . . . . . . . . . . .      -              -
     Net income (loss) . . . . . . . . . . . . . . .    354           (484)


    Total revenues for the three months ("first quarter") and nine
ended March 31, 2000 decreased 30% when compared with the first
quarter of 1999, primarily attributed to the sale of certain wells.
Total costs and expenses as a percentage of total revenues
decreased from 485% in the first quarter of 1999 to 384% for the
first quarter of 2000, and actual costs and expenses decreased 44%
during the same period.  This decrease is primarily attributed to
the 91% decrease in depreciation and amortization for the period
due to prepaid closing costs being fully amortized and prepaid
advertising being mostly exhausted.  Also, the cost of oil and gas
decreased 43% for the first quarter of 2000 when compared to the
first quarter of 1999 due to lower purchases and a set price.
Partially offsetting the decrease in expenses was the 131% increase
in selling, general and administrative expenses due to additional
compensation to officers, directors and consultants.

    The Company's net loss for the first quarter of 2000 $664,787
compared to a net loss of $1,292,826 for the 1999 periods.  The
decrease in net loss is attributed to the reduction in operating
expenses and 49% decrease in interest expense during the period due
to the Company having recorded the discount on its convertible
debenture.

    For the remainder of fiscal year 2000, management expects
selling, general and administrative expenses to remain at
approximately the same rate as for 1999.  The cost of oil and gas
produced is expected to fluctuate with the amount produced and with
prices of oil and gas, and management anticipates that revenues are
likely to increase during the remainder of 2000.

    The Company has included a footnote to its financial
statements for the periods ended March 31, 2000 stating that
because of the Company's continued losses, working capital deficit
and  need for additional funding, there is substantial doubt as to
whether the Company can continue as a going concern.  See Note 2 to
the consolidated financial statements.

Net Operating Losses

    The Company has accumulated approximately $$19,800,000 of net
operating loss carryforwards as of December 31, 1999, which may be
offset against future taxable income through the year 2019 when the
carryforwards expire.  The use of these losses to reduce future
income taxes will depend on the generation of sufficient taxable
income prior to the expiration of the net operating loss
carryforwards.

    In the event of certain changes in control of the Company,
there will be an annual limitation on the amount of net operating
loss carryforwards which can be used.  No tax benefit has been
reported in the financial statements for the year ended
December 31, 1999 or three month period ended March 31, 2000
because the potential tax benefits of the loss carryforward is
offset by valuation allowance of the same amount.

Liquidity and Capital Resources

    Historically, the Company's working capital needs have been
satisfied through its operating revenues and from borrowed funds.
At March 31, 2000, the Company had a negative working capital
$7,993,586 compared to a negative $9,116,862 at December 31, 1999.
This 12% improvement in working capital is primarily attributed to
the conversion to common stock of a portion of the outstanding
convertible debentures.

    The Company anticipates meeting its working capital needs
during the remainder of the current fiscal year with revenues from
operations, particularly from its Gulf Canada interests in Wyoming.
In the event revenues are not sufficient to meet the Company's
working capital needs, it will explore the possibility of
additional funding from either the sale of debt or equity
securities.  The Company has no current agreements or arrangements
for additional funding and there can be no assurance such funding
will be available to the Company or, if  available, it will be on
acceptable or favorable terms to the Company.

    As of March 31, 2000, the Company had total assets of
$5,058,555 and total stockholders' deficit of $3,671,218, compared
to total assets of $5,291,159 and total stockholders' deficit of
$4,630,435 at December 31, 1999.

    At March 31, 2000, the Company had debentures payable of
$3,860,615, which represents certain convertible debentures that
matured during the first quarter of 1999.  The Company currently
anticipates that either the debentures will be converted into
common stock or the Company will attempt to negotiate an extension
to the maturity date.

Inflation

    In the opinion of management, inflation has not had a material
effect on the operations of the Company.

Year 2000

    The Year 2000 issue results from a computer industry-wide
practice of representing years with only two digits instead of
four.  Beginning in the year 2000, date code fields need to accept
four digit entries to distinguish twenty-first century dates from
twentieth century dates (2000 or 1900).  As a result, computer
systems and/or software used by many companies needed to be
upgraded to comply with such Year 2000 requirements.  Through March
31, 2000, the Company has not experienced any significant problems
associated with the Year 2000 issue nor has it been made aware of
or experienced date related problems with any third-party software.
Although it appears that the Year 2000 issue will not have a
significant adverse effect on the Company, it continues to monitor
the Year 2000 compliance of its internal systems.  Undetected
errors in its internal systems that may be discovered in the future
could have a material adverse effect on its business, operating
results or financial condition.

Risk Factors and Cautionary Statements

    Forward-looking statements in this report are made pursuant to
the "safe harbor" provisions of the Private Securities Litigation
Reform Act of 1995.  The Company wishes to advise readers that
actual results may differ substantially from such forward-looking
statements.  Forward-looking statements involve risks and
uncertainties that could cause actual results to differ materially
from those expressed in or implied by the statements, including,
but not limited to, the following: the ability of the Company to
secure additional financing, the possibility of success in the
Company's drilling endeavors, competitive factors, and other risks
detailed in the Company's periodic report filings with the
Securities and Exchange Commission.

                             PART II

Item 1.   Legal Proceedings

    There are no material pending legal proceedings to which the
Company is a party or to which any of its property is subject
except as set forth below.

    On May 14, 1997, a complaint entitled R&K Oil Company, Inc.
vs. Vulcan Energy Corporation and Trans Energy, Inc. was filed in
District Court, Andrews County, Texas, 109th Judicial District
(File #14,430).  The complaint alleges the Company owes R&K Oil
Company, Inc. $126,978 as a result of business transacted by Vulcan
Energy Corporation.  The complaint also seeks $500,000 for breach
of contract. The Company settled the suit for $15,000 in December
1998.

    On March 12, 1997, a complaint entitled F. Worthy Walker vs.
Loren Bagley, William Woodburn, Mark Woodburn, Trans Energy, Inc.
and Vulcan Energy Corporation, was filed in the District Court of
Dallas, Texas (# 9702304C).  The complaint alleges that the Company
breached certain contracts related to Mr. Walker's employment with
Vulcan Energy Corporation, and seeks punitive and exemplary
damages. The Company denies all allegations and intends to
vigorously defend its position.  Management believes that the
results of the proceedings will not have a material adverse effect
on the Company.  On February 17, 1998 the Company and the above
named defendants filed a countersuit against F. Worthy Walker
alleging breach of contract, fraud and fraudulent inducement,
conversion, and breach of fiduciary duty and seeks punitive
damages.

    The Company is also defending a lawsuit filed in 1998 in the
189th Judicial District Court of Harris County, Texas entitled
Baker Hughes Oilfield Operation, Inc. d/b/a Baker Hughes Inteq. vs.
Loren E. Bagley, Individually and Doing Business as Trans Energy,
Inc. (#98-48248).  This action is premised on an alleged breach of
contract and fraud and seeks to recover monetary damages in the
amount of $41,142, plus attorneys' fees, exemplary damages, costs
and interest.   The Company denies all allegations and intends to
vigorously defend its position.  Presently, the action is in the
early discovery phase.

    Also in 1998 an action was filed against the Company in the
234th Judicial District Court of Harris County, Texas entitled
Western Geophysical, a Division of Western Atlas international,
Inc. vs. Trans Energy, Inc. (#98-58146).  In this action the
plaintiff alleges breach of contract and fraud and seeds to recover
monetary damages of $435,714, plus attorney's fees, exemplary
damages, costs of the suit and interest.  The Company is presently
attempting to negotiate a settlement in the matter.

    A foreign judgment has been filed with the circuit court in
Pleasants County, West Virginia for a judgment rendered by the
District Court in Harris County, Texas.  The judgment is for
$41,142 plus prejudgment interest and attorney's fees of $13,500.
No action has been taken to collect on this judgment.

Item 2.   Changes In Securities and Use of Proceeds

    During the first quarter of 2000, the Company issued
(i) 3,372,383 shares of its common stock to five persons for
services rendered to the Company valued at $0.07 per share,
(ii) 150,000 shares to one persons for services rendered valued at
$0.12 per shares, and (iii) 13,356,934 shares to 29 persons upon
the conversion of certain debentures valued at $0.10 per share,
including penalty and interest.


    The above issuances of shares were made in private
transactions to persons possessing knowledge of the Company and
its business operations.  Accordingly, the Company relied upon the
exemption from registration under the Securities Act of 1933, as
amended, provided by Sections and 4(2) of such Act and, for
issuances upon conversion of debentures, Section 3(a)(9) of the
Act.

Item 3.  Defaults Upon Senior Securities

    In 1998, the Company issued $4,625,400 face value of 8%
Secured Convertible Debentures due March 31, 1999 (the
"Debentures")  Interest is to accrue upon the date of issuance
until payment in full of the principal sum has been made or duly
provided for.  Holders of the Debentures shall have the option, at
any time, until maturity, to convert the principal amount of their
Debenture, or any portion of the principal amount which is at least
$10,000 into shares of the Company's Common Stock at a conversion
price for each share equal to the lower of (a) seventy percent
(70%) of the market price of the Company's Common Stock averaged
over the five trading days prior to the date of conversion, or (b)
the market price on the issuance date of the Debentures.  Any
accrued and unpaid interest shall be payable, at the option of the
Company, in cash or in shares of the Company's Common Stock valued
at the then effective conversion price.

    The Company has not repaid the Debentures and has not
finalized a registration statement under which the Debentures can
be converted into common stock.  The Company is attempting to
renegotiate the terms of the debenture or to extend their terms.

Item 4.  Submission of Matters to a Vote of Security Holders

    This Item is not applicable to the Company.

Item 5.  Other Information

    This Item is not applicable

Item 6.  Exhibits and Reports on Form 8-K

    (b)  Reports on Form 8-K

    During the three month period ended March 31, 2000, the
Company did not file any reports on Form 8-K.



                            SIGNATURES


     In accordance with the requirements of the Securities Exchange
Act of 1934, the Registrant caused this report to be signed on its
behalf by the undersigned, thereunto duly authorized.

                                             TRANS ENERGY, INC.



Date:  May 22, 2000                     By  /S/ Loren E. Bagley
                                        LOREN E. BAGLEY, President
                                        and Chief Executive Officer




Date:  May 22, 2000                     By  /S/ William F. Woodburn
                                        WILLIAM F. WOODBURN, Vice
                                        President and Director
                                        (Principal Accounting Officer)