Eurogas Corporation
TSX VENTURE : EUG

Eurogas Corporation

May 30, 2006 18:05 ET

Eurogas Corporation: News Release

CALGARY, ALBERTA--(CCNMatthews - May 30, 2006) - Eurogas Corporation (TSX VENTURE:EUG) ("Eurogas") is pleased to announce that Mr. John Scott has been appointed to the position of Vice President Engineering. This appointment is part of the on-going process of increasing the technical skills within the Company.

Mr. Scott brings a wealth of engineering and management experience to the Company. He has twenty-three years of international and domestic experience, including 7 years in Cuba where he opened and managed offices for two oil companies. Mr. Scott will be located in Calgary and be responsible for engineering planning and execution for the Castor Underground Gas Storage Project in Spain.

The Board of Directors has approved the issue of share options in the amount of 200,000 to Executive Vice President and Chief Operating Officer, Mr. Bruce Sherley; 150,000 to Vice President and Chief Financial Officer, Mr. Andrew Constantinidis; 100,000 to Vice President Exploration, Mr. James Batchelor; 150,000 to Vice President Engineering, Mr. John Scott and 150,000 to President, Escal UGS S.L. Mr. Recaredo del Potro, with a term of five years, vesting over three years, and an exercise price of $1.65 per share.



Jaffar Khan
President & CEO



Certain information set forth in this document, including management's assessment of the Corporation's future plans and operations, contains forward-looking statements. By their nature, forward-looking statements are subject to numerous risks and uncertainties, some of which are beyond the Corporation's control, including the impact of general economic conditions, industry conditions, volatility of commodity prices, currency fluctuations, imprecision of reserve estimates, environmental risks, competition from other industry participants, the lack of availability of qualified personnel or management, stock market volatility and ability to access sufficient capital from internal and external sources. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. The Corporation's actual results, performance or achievement could differ materially from those expressed in, or implied by, these forward-looking statements and, accordingly, no assurance can be given that any of the events anticipated by the forward-looking statements will transpire or occur, or if any of them do so, what benefits the Corporation will derive from there. The Corporation disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

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

Contact Information

  • Eurogas Corporation
    Jaffar Khan
    President & CEO
    (403) 264-4985
    (403) 262-8299 (FAX)
    or
    Eurogas Corporation
    Andrew Constantinidis
    Vice President & CFO
    (403) 264-4985
    (403) 262-8299 (FAX)
    Email: eurogas@eurogascorp.com
    Website: www.eurogascorp.com
    or
    Eurogas Corporation
    250, 435 - 4 Avenue S.W.
    Calgary, Alberta, Canada T2P 3A8