Transeuro Energy Corp.
TSX VENTURE : TSU

Transeuro Energy Corp.

September 28, 2005 09:15 ET

Transeuro Completes Financing

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Sept. 28, 2005) - Mr. Edward Farrauto, President and CEO of Transeuro Energy Corp. (the "Company", "Transeuro") (TSX VENTURE:TSU), is pleased to announce that the Company has completed a brokered private placement of 10,700,000 Units (the "Units") for gross proceeds of $25,145,000. Each Unit consists of one common share and one-half of a common share purchase warrant. One full warrant will allow the holder to purchase one common share in Transeuro for a period of 12 months from closing at a price of $2.75 per share. The common shares and warrants issued will be subject to a four month hold expiring on January 28, 2006.

The financing was lead by Haywood Securities Inc. including Canaccord Capital Corporation and Orion Securities Inc. (the"Agents"). The Agents were paid a commission of 6% of the gross proceeds on the financing. At the Agents election the commission was paid partly in cash, $505,928 and in Units of the financing. A total of 426,286 Units were issued to the Agents. The common shares and warrants issued will be subject to a four month hold expiring on January 28, 2006.

The proceeds of the private placement financing will be used by the Company to further advance the Company's current projects and to investigate opportunities to acquire additional oil and gas assets as well as for general working capital.

Further to the news release dated June 8, 2005, the Company is moving forward with the acquisition of all of the issued and outstanding shares of Mattson Holdings Ltd. ("Mattson") Transeuro has submitted a Filing Statement to the TSX Venture Exchange for their review. Upon approval of the Company's Filing Statement shareholder approval will be obtained by consent.

Transeuro Energy Corp. is a well funded Vancouver, Canada based oil and gas exploration and development company that is focused on the acquisition, advancement and development of oil and gas assets around the world. The Company's properties are located in Armenia, Papua New Guinea and Ukraine.

Post completion of the acquisition of Mattson, Transeuro Energy Corp. will have approximately 107,427,686 million shares issued and outstanding, working capital of approximately $33 million, with shareholders in Canada, the USA and Europe.

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.


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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