Document:

Exhibit 10.1

                                                                  EXECUTION COPY

                              RESCISSION AGREEMENT

         RECISSION  AGREEMENT,  dated April 13, 2006, among ACL  SEMICONDUCTORS,
INC., a Delaware  corporation with executive  offices located at B24-B27,  1/F.,
Block B, Proficient Industrial Centre, 6 Wang Kwun Road, Kowloon, Hong Kong (the
"PURCHASER");  CLASSIC  ELECTRONICS LTD., a Hong Kong corporation with executive
offices located at B6-B8,  1/F., Block B, Proficient  Industrial  Centre, 6 Wang
Kwun Road, Kowloon, Hong Kong ("CLASSIC"),  and the HOLDERS OF THE CAPITAL STOCK
OF CLASSIC IDENTIFIED IN SCHEDULE A HERETO (the "SELLERS").

                                  INTRODUCTION

         WHEREAS,  the Purchaser,  Classic and the Sellers  entered into a Stock
Purchase  Agreement  dated as of December  30, 2005 (the  "ORIGINAL  AGREEMENT")
pursuant to which the Purchaser  agreed to acquire from the Sellers,  all of the
outstanding shares of capital stock of Classic (the "CLASSIC CAPITAL STOCK"), in
exchange for the cancellation of an aggregate of  approximately  $4.0 million of
indebtedness owed by the Sellers to Classic as of the date hereof  (representing
all of the debt owing by the Sellers to Classic)  (the  "SELLERS'  DEBT"),  plus
$1.0 million  previously  paid by Purchaser to Classic on December 29, 2003 as a
non-refundable  deposit  towards the  consummation  of the sale of Classic  (the
"CASH   CONSIDERATION")  to  the  Purchaser  through  cancellation  of  accounts
receivable then payable by Classic to Purchaser;

         WHEREAS,  the Sellers and  Classic  have been unable to timely  produce
certain information required by the Purchaser;

         NOW THEREFORE,  the  Purchaser,  Classic and the Sellers have agreed to
rescind the  Original  Agreement  and to release  one  another  from any and all
claims they may have against each other arising out of the Original Agreement.

         The parties  hereto,  intending  to be legally  bound,  hereby agree as
follows:

         1. RESCISSION OF ORIGINAL AGREEMENT. Each of the Purchaser, the Sellers
and Classic  hereby  agree to rescind the  Original  Agreement  effective  as of
December 30, 2005 and to  immediately  return all  consideration  and deliveries
made  pursuant  to the  Original  Agreement  to  restore  the  parties  to their
respective positions prior to the consummation of Original Agreement, including,
without  limitation,  the  return by the  Sellers to the  Purchaser  of the Cash
Consideration,  the  reinstatement  of the Sellers'  Debt, the redelivery to the
Sellers  of the  Classic  Capital  Stock  delivered  pursuant  to  the  Original
Agreement to the Sellers in accordance with Schedule A hereto (collectively, the
"RESCISSION").

         2. MUTUAL RELEASES. The Sellers,  Classic and the Purchaser each hereby
releases  and  discharges  the other  parties  and their  respective  employees,
officers,  directors,  shareholders  and  affiliates  hereto  from  any  and all
liability  relating  to or  arising  out  of  the  Original  Agreement  and  the
rescission thereof effected by this Agreement;  provided,  however, such release
shall not apply to the  obligations  of the  parties  set forth in Section  1.01
above and elsewhere in this Agreement.

<PAGE>

         3.  REPRESENTATIONS  OF THE PARTIES.  Each of the Parties hereto hereby
represents and warrants:

         (i) that such party is duly authorized to enter into and perform his or
its obligations under this Agreement; and

         (ii) that the  Rescission  is deemed to be in the best interest of such
party and shall not conflict with or violate any agreement, law or regulation to
which such party is subject.

         4.  FURTHER  ACTIONS.  Each of the Sellers,  Classic and the  Purchaser
agree  to use  their  respective  best  efforts  to  perform  their  obligations
hereunder  as soon as  practicable  and to cooperate  with the other  parties in
their  respective  performances.  At any time and from time to time,  each party
agrees,  at its or his expense,  to take such actions and to execute and deliver
such documents as may be reasonably necessary to effectuate the purposes of this
Agreement.

         5. MODIFICATION.  This Agreement sets forth the entire understanding of
the parties with respect to the subject  matter  hereof,  supersede all existing
agreements  among them concerning such subject matter,  and may be modified only
by a written  instrument  duly  executed by each party with the  approval of the
Board of Directors or by an officer of each corporate party.

         6.  COUNTERPARTS;  GOVERNING LAW. This Agreement may be executed in any
number of  counterparts,  each of which shall be deemed an original,  but all of
which  together  shall  constitute  one and the  same  instrument.  It  shall be
governed by and construed in accordance  with the laws of the State of New York,
without  giving effect to principles of conflict of laws.  Any action,  suit, or
proceeding arising out of, based on, or in connection with this Agreement or the
transactions  contemplated  hereby may be brought in the United States  District
Court or the courts of the State of New York,  in each case  located in the City
of New York, New York, and each party covenants and agrees not to assert, by way
of motion, as a defense, or otherwise,  in any such action, suit, or proceeding,
any claim that it or he is not subject  personally to the  jurisdiction  of such
court,  that  its or his  property  is  exempt  or  immune  from  attachment  or
execution,  that the action,  suit, or proceeding is brought in an  inconvenient
forum,  that the venue of the action,  suit, or proceeding is improper,  or that
this  Agreement or the subject  matter  hereof may not be enforced in or by such
court.

                  [REMAINDER OF PAGE INTENTIONALLY LEFT BLANK]

                                       2

<PAGE>

     IN WITNESS WHEREOF, the parties have duly executed this Agreement as of the
date first written above.

                                             ACL SEMICONDUCTORS, INC.

                                             BY: /s/ CHUNG-LUN YANG
                                                ---------------------
                                                NAME:  CHUNG-LUN YANG
                                                TITLE: CEO

                                             CLASSIC ELECTRONICS, LTD.

                                             BY: /S/ BEN WONG
                                                ---------------------
                                                NAME:  BEN WONG
                                                TITLE: DIRECTOR

                                                /s/ BEN WONG
                                                ---------------------
                                                NAME:  BEN WONG

                                                /s/ FONG WUN KIN
                                                ---------------------
                                                NAME:  FONG WUN KIN

<PAGE>

SCHEDULE A

SELLERS:

MR. BEN WONG, a Hong Kong resident and whose residential  address is situated at
6D Wah Yan Court, Wah Yuen Chuen, Kwai Chung, NT, Hong Kong; and

SHARES OWNED BY MR. WONG                             2,999,999 SHARES

MR. FONG WUN KIN, a Hong Kong resident and whose residential address is situated
at Rm 1822, Heng Fung House, Heng On Estate, Ma On Shan, NT, Hong Kong

SHARES OWNED BY MR. FONG WUN KIN:                       1 SHAREEXHIBIT 10.2
------------

                     FIRST AMENDMENT TO DEFINITIVE AGREEMENT

                   This   Amendment   ("First   Amendment")  of  the  Definitive
Agreement  ("Definitive  Agreement") dated the 3rd day of January, 2006, is made
this  22nd  day of  March,  2006 by and  among  TRANS  ENERGY,  INC.,  a  Nevada
corporation,  with its  principal  place of business at 210 Second  Street,  St.
Marys,  West  Virginia  26170  ("Seller");  PRIMA OIL COMPANY,  INC., a Delaware
corporation,  with their principal  place of business at 210 Second Street,  St.
Marys,  West Virginia  26170 (the "Credit  Facilitator");  CLARENCE E. SMITH and
REBECCA  L.  SMITH,   of  P.  O.  Box  432,  St.  Marys,   West  Virginia  26170
("Purchasers");   ARVILLA  OILFIELD  SERVICES,  LLC,  a  West  Virginia  limited
liability company ("AOS");  and ARVILLA PIPELINE  CONSTRUCTION CO., INC., a West
Virginia corporation whose stock is wholly owned by Purchasers ("APC").

                              W I T N E S S E T H:

                  WHEREAS,  the  parties  hereto  entered  into  the  Definitive
Agreement  intending to close the transactions  described  therein no later than
January 31, 2006;

                  WHEREAS,  the  closing of the  transactions  described  in the
Definitive Agreement was made expressly subject to certain conditions precedent,
including  without  limitation,  the  consent  described  in Section  4.5 of the
Definitive  Agreement  of  Huntington  National  Bank to such closing (the "Bank
Consent"),  and the receipt of a fairness opinion as described in Section 4.7 of
the Definitive  Agreement to the effect that said  transactions  are fair to the
Seller and its stockholders (the "Fairness Opinion");

                  WHEREAS,  due to factors  beyond the control of the parties it
has become apparent that it is not possible to obtain the Fairness Opinion under
the terms set forth in the Definitive Agreement; and

                  WHEREAS,  the parties have agreed upon certain  amendments  to
the terms and  provisions  of the  Definitive  Agreement  designed  to obtain an
unqualified Fairness Opinion.

                  NOW,  THEREFORE,  in  consideration of the premises and of the
mutual covenants and agreements  contained herein,  together with other good and
valuable  consideration,   the  receipt  and  sufficiency  of  which  is  hereby
acknowledged, the parties hereto agree as follows:

                             Article 1. Amendments

                   1.1     Section 1.4.1 or the Definitive  Agreement is amended
                           to read as follows:

                           "Seller,   together   with  any  of  its   subsidiary
                           corporations   or  affiliated   entities   ("Seller's
                           Affiliated  Entities"),  shall  execute a  promissory
                           note ("AOS  Promissory  Note") in favor of AOS in the
                           principal amount of One Hundred Seventy-six  Thousand
                           Two  Hundred  Thirty-nine  Dollars  and 58/100  Cents
                           ($176,239.58),  bearing interest from January 1, 2006
                           at an annual  stated rate of  interest  equal to Wall
                           Street  Journal  plus  one  percent  (1%),   adjusted

<PAGE>

                           monthly  on the  twenty-eighth  (28th)  day  of  each
                           calendar  month;  said AOS  Promissory  Note shall be
                           payable in full,  without  notice and  demand,  on or
                           before April 30, 2006."

                   1.2     Section 1.4.2 of the Definitive  Agreement is amended
                           to read as follows:

                           "Seller,   together   with  any  of  its   subsidiary
                           corporations   or  affiliated   entities   ("Seller's
                           Affiliated  Entities"),  shall  execute a  promissory
                           note ("APC  Promissory  Note") in favor of APC in the
                           principal  amount  of One  Hundred  Fifteen  Thousand
                           Dollars and No Cents ($115,000.00),  bearing interest
                           from  January  1,  2006 at an annual  stated  rate of
                           interest  equal  to  Wall  Street  Journal  plus  one
                           percent (1%),  adjusted monthly on the  twenty-eighth
                           (28th)  day  of  each   calendar   month;   said  APC
                           Promissory  Note shall be  payable  in full,  without
                           notice and demand, on or before April 30, 2006."

                   1.3     A  new  section  1.6  is  added  to  the   Definitive
                           Agreement to read as follows:

                           "1.6 Release of Lien on Lyons Lease.  Upon payment in
                           full of the  obligations  described in Sections 1.4.1
                           and 1.4.2,  and upon release of  Purchasers  from any
                           and all  liability  and the  obligation  pursuant  to
                           outstanding   debt   secured   by  the  Five   Wells,
                           Purchasers   shall   provide   Seller  and   Seller's
                           Affiliated  Entities  with a complete  release of the
                           Lyons Leasehold Deed of Trust."

                   1.4     A  new  section  1.7  is  added  to  the   Definitive
                           Agreement to read as follows:

                           "1.7 Value of  Reacquired  Shares.  For all  purposes
                           under the Definitive Agreement, as amended, including
                           without limitation,  the Fairness Opinion,  the value
                           of the Reacquired Shares is Eighty-five cents ($0.85)
                           per share."

                   1.5     A  new  section  1.8  is  added  to  the   Definitive
                           Agreement to read as follows:

                           "1.8  Limit  on  Rate  of  Sale  of  the  Balance  of
                           Purchasers'  Shares.  During each calendar quarter on
                           or after March 22, 2006, Purchasers shall not sell an
                           amount of the  Purchasers'  Shares which is more than
                           the greater of: (i) 50,000 shares, adjusted for stock
                           splits or stock dividends; or (ii) one percent (1.0%)
                           of the  shares of Seller  outstanding  on the date of
                           any such sale; provided, however, as between Clarence
                           E. Smith and  Rebecca  L.  Smith,  Clarence  E. Smith
                           shall  not sell  any of  Purchasers'  Shares  without
                           first  giving  Rebecca L. Smith three (3) days actual
                           notice in writing."

                                      -2-
<PAGE>

                   1.6     Section 1.3.2 of the Definitive  Agreement is amended
                           to read as follows:

                           "1.3.2  Trans Energy  shall  immediately  upon Escrow
                           Closing   assume  primary   responsibility   for  all
                           outstanding  debt secured by the Five Wells and shall
                           diligently  pursue  obtaining  release of  Purchasers
                           from all such debt."

                   1.7     Sections 1.4.5 and 1.4.6 are deleted.

                           Article 2. Other Matters

                   2.1     Definitions.  All  capitalized  terms  shall have the
 meanings set forth in the Definitive Agreement,  unless otherwise  specifically
 provided in this First Amendment.

                   2.2     Effectiveness  of  Definitive  Agreement.  Except  as
 otherwise  specifically  amended  by  this  First  Amendment,   the  Definitive
 Agreement shall remain in full force and effect.

                   IN WITNESS  WHEREOF, the  parties  have  executed  this First
Amendment:

                                         PURCHASERS:

                                         /s/ Clarence E. Smith
                                         ---------------------------------------
                                         (Clarence E. Smith)

                                         /s/ Rebecca L. Smith
                                         ---------------------------------------
                                         (Rebecca L. Smith)

                                         SELLER:

                                         Trans Energy, Inc.

Attest: /s/ William F. Woodburn         By:  /s/ James K. Abcouwer
        ----------------------------         -----------------------------------
         Its:     Secretary                  Its:     President

                                                 CREDIT FACILITATOR:

                                        Prima Oil Company, Inc.

Attest: /s/ William F. Woodburn         By:  /s/ Loren Bagley
        ----------------------------         -----------------------------------
         Its:     Secretary                  Its:     President

                                      -3-
<PAGE>

                                        APC:

                                        Arvilla Pipeline Construction Co., Inc.

Attest: /s/ Margaret Wilson             By:  /s/ Clarence Smith
        ----------------------------         -----------------------------------
         Its:     Secretary                  Its:     President

                                        AOS:

                                        By:  Arvilla, Inc.,
                                             its sole corporate member

Attest: /s/ Rebecca Smith               By:  /s/ Clarence Smith
        ----------------------------         -----------------------------------
         Its:     Secretary                  Its:     President

                                      -4-

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