Transeuro Energy Corp.

Transeuro Energy Corp.

October 30, 2007 00:15 ET

Transeuro to Proceed With US$15 Million Bond Issue

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 30, 2007) - Transeuro Energy Corp. ("Transeuro", or the "Company") (TSX VENTURE:TSU)(OSLO:TSU) is pleased to announce that it intends to proceed with a US$15 million secured bond issue (the "Bonds"). The Bonds, each with a nominal value of US$100,000, will carry an interest rate of 12% per annum payable semi-annually in arrears. As security, the Bond holders will be granted a first priority pledge in the common shares of the Company's wholly-owned subsidiary, Mattson Holdings Ltd., which owns all of the Company's rights in the Beaver River Project located in northern British Columbia. The net proceeds of the offering will be used for general corporate purposes.

Each Bond will have attached 50,000 common share purchase warrants (the "Warrants") exercisable into common shares of Transeuro at a strike price of NOK3.40 (CAD$0.61) per common share. The Company will issue a total of 7,500,000 Warrants in connection with the Bond issue. The Warrants will be recorded in the Norwegian VPS and the Company will apply to have the Warrants listed for trading on the Oslo Axess. The Warrants will not be listed for trading on the TSX Venture Exchange.

The settlement date is expected to be on or about November 14, 2007 with maturity of the Bonds occurring on November 13, 2009, 2 years after the Settlement Date. The Bond Issue was arranged and placed by Pareto Securities ASA of Norway who will receive a cash commission in the amount of US$600,000.

The issuance of the Bonds and the Warrants is subject to all required regulatory approvals.

Transeuro Energy Corp. is involved in the acquisition of petroleum and natural gas rights, the exploration for, and development and production of crude oil, condensate and natural gas. The Company's properties are located in Canada, Armenia and Ukraine.

On behalf of the Board of Directors

Harold Hemmerich, President and CEO

This press release does not constitute an offer to sell or solicitation of an offer to sell any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to a U.S. Person unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

The statements contained in this release that are not historical facts are forward-looking statements, which involve risks and uncertainties that could cause actual results to differ materially from the targeted results. The Company relies upon litigation protection for forward looking statements.

Barrel of oil equivalent ("boe") amounts may be misleading, particularly if used in isolation. A boe conversion ratio has been calculated using a conversion rate of six thousand cubic feet of natural gas to one barrel and is based on an energy equivalent conversion method application at the burner tip and does not necessarily represent an economic value equivalent at the wellhead.

The TSX Venture Exchange has not reviewed, and does not accept responsibility for the adequacy or accuracy of the content of this news release.

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