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 September 30, 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 September 30, 2000
Common Stock, $.001 par value              160,580,646


                        TABLE OF CONTENTS

Heading                                                                Page
                  PART I.  FINANCIAL INFORMATION

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

          Consolidated Balance Sheets -- September 30, 2000
            and December 31, 1999. . . . . . . . . . . . . . . . .       4

          Consolidated Statements of Operations --
            three and nine months ended September 30, 2000
            and 1999 . . . . . . . . . . . . . . . . . . . . . . .       6

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

          Consolidated Statements of Cash Flows --
            three and nine months ended September 30, 2000
            and 1999 . . . . . . . . . . . . . . . . . . . . . . .       8

          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 September 30, 2000 and December 31, 1999, have
been prepared by the Company.











                        TRANS ENERGY, INC.

                CONSOLIDATED FINANCIAL STATEMENTS

             September 30, 2000 and December 31, 1999











               TRANS ENERGY, INC. AND SUBSIDIARIES
                   Consolidated Balance Sheets


                              ASSETS

                                                 September 30,  December 31,
                                                    2000           1999
                                                  (Unaudited)
CURRENT ASSETS

  Cash                                             $     -      $   13,477
  Prepaid expenses                                      7,745         -
  Accounts receivable, net                            125,705      127,154

     Total Current Assets                             133,450      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                                       49,396       49,155
  Wells                                             3,704,389    3,704,389
  Leasehold acreage                                   180,000      180,000
  Accumulated depreciation                         (1,641,536)  (1,408,486)

     Total Fixed Assets                             4,651,838    4,884,647

OTHER ASSETS

  Loan acquisition costs                              117,022         -
  Restricted cash                                     105,905      262,089
  Deposits                                              1,508        3,792

     Total Other Assets                               224,435      265,881

     TOTAL ASSETS                                  $5,009,723   $5,291,159



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


          LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT)

                                                 September 30,   December 31,
                                                     2000            1999
                                                  (Unaudited)
CURRENT LIABILITIES

 Cash overdraft                                  $     30,538    $      -
 Accounts payable - trade                           1,272,331      1,181,945
 Accrued expenses                                   1,462,647      1,182,754
 Salaries payable                                     396,412        412,262
 Notes payable - current portion                    1,144,282      1,228,566
 Related party payables                               401,010        161,470
 Debentures payable                                    50,000      5,090,496

  Total Current Liabilities                         4,757,220      9,257,493

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

LONG-TERM LIABILITIES

 Notes payable                                        525,427        559,190

  Total Long-Term Liabilities                         525,427        559,190

  Total Liabilities                                 5,387,558      9,921,594

COMMITMENTS AND CONTINGENCIES

STOCKHOLDERS' EQUITY (DEFICIT)

 Common stock; 300,000,000 shares authorized at
  $0.001 par value; 160,580,646 and 7,107,746
  shares issued and outstanding, respectively         160,580          7,107
 Capital in excess of par value                    20,818,220     15,250,242
 Accumulated deficit                              (21,356,635)   (19,887,784)

  Total Stockholders' Equity (Deficit)               (377,835)    (4,630,435)

  TOTAL LIABILITIES AND STOCKHOLDERS'
   EQUITY (DEFICIT)                              $  5,009,723    $ 5,291,159




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

                                          For the               For the
                                     Nine Months Ended     Three Months Ended
                                       September 30,          September 30,
                                     2000         1999      2000         1999

REVENUES                        $   890,185  $   809,176  $ 346,211  $  247,249

COSTS AND EXPENSES

  Cost of oil and gas               571,746      688,860    236,427     353,854
  Salaries and wages                 62,718       65,508     18,640      19,094
  Depreciation, depletion and
   amortization                     233,051    1,200,415     77,684     164,780
  Selling, general and
   administrative                 1,222,200      428,960    135,233      72,255

     Total Costs and Expenses    (2,089,715)   2,383,743    467,984     609,983

LOSS FROM OPERATIONS             (1,199,530)  (1,574,567)  (121,773)   (362,734)

OTHER INCOME (EXPENSE)

  Loss on valuation of assets          -      (2,442,961)      -           -
  Other income                        6,126         -          1,673       -
  Interest expense                 (275,447)    (810,240)    (41,524)  (275,476)

     Total Other Income (Expense)  (269,321)  (3,253,201)    (39,851)  (275,476)

LOSS FROM CONTINUING OPERATIONS
 BEFORE INCOME TAXES AND MINORITY
 INTERESTS                       (1,468,851)  (4,827,768)   (161,624)  (638,210)

INCOME TAXES                           -            -           -          -

MINORITY INTERESTS                     -            -           -          -

NET LOSS                        $(1,468,851) $(4,827,768)  $(161,624) $(638,210)

BASIC LOSS PER SHARE            $     (0.03) $     (1.65)  $   (0.00) $   (0.87)




                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, 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)

Common stock issued for conversion
 of debentures, penalty and interest
 at $0.10 per share (unaudited)  147,680,517  147,681   5,135,545          -

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          -

Common stock issued for services at
 $0.11 per share (unaudited)       1,100,000    1,100     119,900          -

Common stock issued for services
 at $0.0625 per share (unaudited)  1,140,000    1,140      70,110          -

Common stock issued for debt at
 $0.13 per share (unaudited)          30,000       30       3,720          -

Net loss for the nine months ended
 September 30, 2000 (unaudited)         -        -           -       (1,468,851)

Balance, September 30, 2000
 (unaudited)                     160,580,646 $160,580 $20,818,220  $(21,356,635)


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

                                          For the                For the
                                      Nine Months Ended     Three Months Ended
                                        September 30,          September 30,
                                     2000          1999       2000      1999

CASH FLOWS FROM OPERATING ACTIVITIES:

 Net loss                        $(1,468,851) $(4,827,768) $(161,624) $(638,210)
 Adjustments to reconcile net loss
   to net cash (used) by operating
   activities:
 Depreciation, depletion and
   amortization                      233,051   1,238,506      77,684    202,871
 Common stock issued for services    434,475     261,000      71,250     61,000
  Loss on valuation of assets           -      2,442,961        -          -
 Changes in operating assets
   and liabilities:
 Decrease (increase) in
   accounts receivable                 1,448      (2,181)      5,197      3,229
 (Increase) decrease in
   restricted cash                   156,184        -         20,485       -
 Decrease (increase) in prepaid
  and other current assets          (122,485)       -       (124,769)      -
 Increase in accounts payable
   and accrued expenses              439,201      86,108    (121,000)    42,427
 Increase (decrease) in
   cash overdraft                     30,538     425,206      30,538    154,789

    Net Cash (Used) by
     Operating Activities           (296,439)   (376,168)    (202,239) (173,894)

CASH FLOWS FROM INVESTING ACTIVITIES:

 Proceeds from sale of property         -        400,000         -      400,000
 Expenditures for property
  and equipment                         (240)       (327)        (240)     -

    Net Cash Provided (Usd)
     by Investing Activities            (240)    399,673         (240)  400,000

CASH FLOWS FROM FINANCING ACTIVITIES:

 Borrowings of long-term debt -
   related party                     239,540        -         123,583      -
 Borrowings of long-term debt        213,730     245,090      213,730      -
 Principal payments on
  notes payable                     (149,578)   (268,595)    (127,270) (226,106)
 Principal payments on notes
  payable - related party            (20,490)       -          (8,988)     -

    Net Cash Provided by
     Financing Activities            283,202     (23,505)     201,054  (226,106)

NET INCREASE (DECREASE) IN CASH      (13,477)       -          (1,425)     -

CASH AND CASH EQUIVALENTS,
 BEGINNING OF PERIOD                  13,477        -           1,425      -

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




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

                                          For the               For the
                                     Nine Months Ended      Three Months Ended
                                       September 30,           September 30,
                                      2000       1999         2000       1999

CASH PAID FOR:

  Interest                       $   126,836  $  64,885  $    42,005  $   8,547
  Income taxes                   $      -     $    -     $      -     $    -

NON-CASH FINANCING ACTIVITIES:

  Common stock issued for debt   $ 5,286,977  $ 258,390  $ 2,538,031  $ 123,350
  Common stock issued
   for services                  $   434,475  $ 261,000  $    71,250  $  61,000








              TRANS ENERGY, INC. AND SUBSIDIARIES
         Notes to the Consolidated Financial Statements
             September 30, 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
       September 30, 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 September 30, 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 September 30, 2000, and
       has a working capital deficit at September 30, 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.

NOTE 3 - MATERIAL EVENTS

       During July 2000, the Company entered into an agreement to
       purchase 51% of the outstanding common stock of Oil and
       Gas, Inc. from its principle shareholder James Laughlin
       (Laughlin) in exchange for 300 shares of its previously
       authorized, but unissued, $1,000 par value preferred Series
       One stock.  The preferred stock is convertible into common
       stock at a 20% discount to market on the date of
       conversion, on or after August 1, 2001.  Laughlin shall
       also receive interest calculated as the New York Prime
       interest rate plus one percent (1%) on $300,000, the book
       value of the preferred stock, payable in the Company's
       common stock at a discount of 20% to market and 100,000
       warrants to purchase the Company's common stock exercisable
       at a strike price of $0.10 per warrant.  The Company has
       not issued the preferred stock and there has been no
       activity in this subsidiary.

       During August 2000, the Company increased its authorized
       shares of common stock from 100,000,000 to 300,000,000.






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 and nine month
periods ended September 30, 2000 and 1999.  It should be noted that
percentages discussed throughout this analysis are stated on an
approximate basis.

                                   Three Months Ended  Nine Months Ended
                                      September 30,       September 30,
                                      2000    1999        2000    1999
                                      (Unaudited          (Unaudited)

Total revenues . . . . . . . . . .    100%    100%        100%    100%
Total costs and expenses . . . . .    135     247         235     295
Net loss from operations . . . . .     35    (147)       (135)   (195)
Other income (expense) . . . . . .    (12)   (111)        (30)   (402)
Net income (loss). . . . . . . . .    (47)   (258)       (165)   (597)


     Total revenues for the three months ("third quarter") ended
September 30, 2000 increased 40% when compared with the third
quarter of 1999.  For the nine months ("first nine months")
ended September 30, 2000, total revenues increased 10% when
compared with the first nine months of 1999.  This increase in
revenues is primarily attributed to higher oil and gas prices.
Total costs and expenses as a percentage of total revenues
decreased from 247% in the third quarter of 1999 to 135% for
the third quarter of 2000, and actual costs and expenses decreased
23% during the same period.  This decrease is primarily attributed
to the 33% decrease in cost of oil and gas due to stabilization in
the oil and gas prices,  and the 53% decrease in depreciation and
amortization expenses due to the sale of certain wells.  The
decrease was partially offset by the 87% increase in selling,
general and administrative expenses, primarily due to common stock
issued for services.

    Total costs and expenses as a percentage of total revenues
decreased from 295% in the first nine months of 1999 to 235% for
the first nine months of 2000.  Actual costs and expenses decreased
12% during the same period primarily due to the 17% decrease in
cost of oil and gas and the 81% decrease in depreciation and
amortization expenses, also due to the sale of certain.  The
decrease in costs and expenses for the first nine months of 2000
was also partially offset by the 185% increase in selling, general
and administrative expenses due to common stock issued for
services.

    The Company's net loss for the third quarter and first nine
months of 2000 was $161,424 and $1,468,851, respectively, compared
to a net loss of $638,210 and $4,827,768 for the 1999 periods.
This decrease in the Company's net loss for the 2000 periods is
partially attributed to the one time charge of $2,442,961 in 1999
due to a loss on the sale of assets.  The decrease in net loss for
the 2000 periods is also attributed to decreases of 85% and 66% in
interest expense for the third quarter and first nine months of
2000, respectively, when compared to the 1999 periods.  This
decrease is due to the Company having recorded the discount on its
convertible debenture in the 1999 periods.

    For the remainder of fiscal year 2000, management expects
selling, general and administrative expenses to remain at
approximately the same rate as the first nine months of 2000.  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 September 30, 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 2020 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 September 30, 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 September 30, 2000, the Company had a negative working capital
$4,623,770 compared to a negative $9,116,862 at December 31, 1999.
This 49% 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 Powder River Basin interests in
Wyoming and its New Benson gas wells drilled in West Virginia.
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 September 30, 2000, the Company had total assets of
$5,009,723 and total stockholders' deficit of $377,835, compared to
total assets of $5,291,159 and total stockholders' deficit of
$4,630,435 at December 31, 1999.

    At September 30, 2000, the Company had debentures payable of
$50,000 which represents certain convertible debentures that
matured during the first quarter of 1999.  This represents one
holder that the Company has been unable to contact.  The Company currently
anticipates that either the debentures will be converted into
common stock or the Company will attempt to negotiate a change of
terms with the debenture holders.

Inflation

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

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 Company is
attempting to negotiate a settlement of the matter.

    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 third quarter of 2000, the Company issued
(i) 1,140,000 shares of its common stock to two persons for
services rendered to the Company valued at $.0479 per share, and
(ii) 125,707,277 shares to 27 persons upon the conversion of
certain debentures valued at an average of $.0457 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 shares issued for
services were registered under the Act pursuant to Form S-8
registration statements.  Issuances of shares upon conversion
of debentures involved an exchange of the Company's securities and
were exempt from registration pursuant to 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

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 September 30, 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:  November 14, 2000                By  /S/ Loren E. Bagley
                                        LOREN E. BAGLEY, President
                                        and Chief Executive Officer




Date:  November 14, 2000                By  /S/ William F. Woodburn
                                        WILLIAM F. WOODBURN, Vice
                                        President and Director
                                        (Principal Accounting Officer)