Eurogas Corporation Announces Normal Course Issuer Bid

TORONTO, ONTARIO--(Marketwire - March 30, 2011) - Eurogas Corporation ("Eurogas" or the "Corporation") (TSX:EUG) today announced receipt of regulatory approval respecting its intention to establish a normal course issuer bid (the "Bid") through the facilities of the Toronto Stock Exchange ("TSX") from April 1, 2011 to March 31, 2012. Eurogas may purchase up to a maximum of 7,805,922 of its common shares ("Common Shares"), representing approximately 5% of the Common Shares issued and outstanding as of March 25, 2011. As of March 25, 2011, there were 156,118,453 Common Shares issued and outstanding. Eurogas may purchase up to 4,512 Common Shares during any trading day, which represents 25% of its average daily trading volume, being 18,051 Common Shares for the period of February 4, 2011 (the date on which the Common Shares were listed on the TSX) through March 25, 2011, other than pursuant to a block purchase exception. The purchases will be made in accordance with the policies and rules of the TSX. The price paid for any Common Shares acquired will be the market price at the time of purchase and all Common Shares purchased under the Bid will be cancelled.

Eurogas believes that the purchase of its Common Shares at current market values represents a good long-term investment for the Company. 

ABOUT THE CORPORATION

Eurogas Corporation is listed on the Toronto Stock Exchange under the symbol "EUG" and is engaged in oil and natural gas operations in Ontario and indirectly in the development of a major underground storage facility off the east coast of Spain. For more information on Eurogas, visit the website www.eurogascorp.com.