Transeuro Energy Corp.
TSX VENTURE : TSU

Transeuro Energy Corp.

September 20, 2005 12:21 ET

Transeuro Energy Corp.: Beaver River Update, Final Approval Prospecting Licence 259, Loan Agreement with Mattson, Annual General Meeting

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Sept. 20, 2005) - Transeuro Energy Corp. (the "Company", "Transeuro") (TSX VENTURE:TSU) reports that operations are underway at the Beaver River Field in British Columbia.

The workover of the A-6 well, the first well in a four well program, began this weekend. The operation will involve the re-entry and re-completion for potential production from the shallow Mattson sands. One additional well is scheduled for this fall with two more wells planned for this winter. It is expected the re-completed wells will be stimulated and tested in early 2006.

The TSX Venture Exchange has accepted the Company's filing for the acquisition of Prospecting Rockwell Explorations Licence 259 from S.A. (see news release dated September 2, 2005). As consideration for the license, Transeuro will issue to Rockwell 390,000 common shares of Transeuro. The common shares will be subject to a hold period of at least four months.

The Company has entered into a loan agreement with Mattson Holdings Ltd. ("Mattson") for $2,500,000. Mattson will use the proceeds to complete re-entry of wells A-2, A-6 and re-completion of well B-2.

The Company held its Annual General Meeting on September 15, 2005. Edward Farrauto, David Parry, Anastase Maragos, David Cohen and Harold Hemmerich were elected as directors. Shareholders approved the Company's continuance from the laws of Yukon under the YBCA to the laws of British Columbia under the BCA. The Shareholders approved the Company's 2005 Stock Option Plan.

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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