Transeuro Energy Corp.

Transeuro Energy Corp.

June 20, 2009 02:24 ET

Transeuro Energy Corp.: Change of Chairman

VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 20, 2009) - Transeuro Energy Corp. (TSX VENTURE:TSU)(OSLO:TSU) ("Transeuro" or the "Company") announces that Hal Hemmerich has stepped down as Chairman of the Board and will continue as a Board member. Aage Thoen has taken over the position of Chairman of the Board. Mr. Thoen has been a director of the Company since April 11, 2007 and is also a member of the Board of Eaglewood Energy Inc., in which Transeuro holds approximately 27 million shares. Mr. Thoen currently holds 2,750,000 Transeuro shares, plus 500 units in the Series A debenture issued by the Company.

The Company is in the final stages in its attempts to restructure its balance sheet and meet its required filings with the Toronto and Oslo stock exchanges so that normal trading will resume. The Company expects to shortly issue an offer to settle the US$15million bond and to simultaneously restructure other debts and liabilities.

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 and Ukraine.

On behalf of the Board of Directors

David Worrall, CEO

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.

Contact Information