Transeuro Energy Corp.

Transeuro Energy Corp.

March 27, 2007 00:15 ET

Transeuro Energy Corp.: B-3 Well Reaches Target Depth Under Budget

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - March 27, 2007) - Transeuro Energy Corp. ("Transeuro" or the "Company") (TSX VENTURE:TSU) and Questerre Energy Corporation ("Questerre") (TSX:QEC)(OSE:QEC) are pleased to announce the completion of drilling operations on the B-3 well at the Beaver River Field.

The well was drilled ahead of schedule and under budget. It represents the best time performance of any well drilled in the immediate area to date.

Operations on the B-3 well commenced at the end of January 2007. The B-3 well was initially drilled vertically and intermediate casing set at a depth of 1,467m. Drilling operations continued directionally to a measured depth of 2,115m. Numerous gas shows were encountered while drilling. The well is currently being logged and sidewall cores extracted from several prospective intervals prior to setting production casing later this week. Completion and testing will be carried out this summer.

The B-3 well was drilled to delineate the shallow Mattson/Besa River horizon in the southern part of the Beaver River Field. Transeuro and Questerre each hold a 50% interest in this well. A joint venture operating committee managed operations with Questerre appointed as the named operator.

Hal Hemmerich, President and Chief Executive Officer of Transeuro, reported, "We are pleased with the accomplishment of the operating committee and our partner Questerre with the drilling of the B-3 well with an estimated cost of $5.5 million which is $1 million less than AFE. We look forward to continuation of the Beaver River drill program."

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, Papua New Guinea and Ukraine.

Questerre Energy Corporation is a Calgary based independent resource company actively engaged in the exploration, development and acquisition of high-impact exploration and development oil and gas projects in Canada.

Harold Hemmerich, President and CEO, Transeuro Energy Corp.

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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