Transeuro Energy Corp.
TSX VENTURE : TSU

Transeuro Energy Corp.

April 02, 2007 00:15 ET

Transeuro Closes Private Placement of $46.6 Million

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - April 2, 2007) -

NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES

Mr. Hal Hemmerich, President and Chief Executive Officer of Transeuro Energy Corp. (the "Company") (TSX VENTURE:TSU), is pleased to announce that the Company has completed a brokered private placement of 76,421,700 units (the "Units") at a price of NOK 3.22 (approximately CAD $0.61) for gross proceeds of CAD $46,607,149. Each Unit will consist of one common share and one share purchase warrant, entitling the holder to acquire an additional common share at a purchase price of NOK 3.22 until December 31, 2007.

The private placement was conducted by DnB Nor Markets, a part of DnB NOR Bank ASA and Pareto Securities ASA (collectively, the "Managers") of Oslo, Norway. The Managers were paid a commission equal to 6% of the gross proceeds on the financing.

The shares issued under the private placement will be quoted on the Over-The-Counter market in Norway (OTC) operated by the Norwegian Securities Dealers Association pending the Company's listing on the Oslo Stock Exchange (Oslo Axess). All shares issued pursuant to the private placement will be subject to a restricted period in Canada expiring four months and a day after the closing of the prospectus offering, but will not be subject to any restrictions on trading in Norway.

The Company will use the proceeds of the private placement for further exploration and advancement of its oil and natural gas properties in Canada, Armenia, Ukraine and Papua New Guinea and for general working capital.

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 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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