Transeuro Energy Corp.

Transeuro Energy Corp.

February 19, 2009 00:15 ET

Transeuro Energy Corp.: Debt Settlement

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Feb. 19, 2009) - Transeuro Energy Corp. ("Transeuro" or the "Company") (TSX VENTURE:TSU)(OSLO:TSU) announces that it has settled outstanding interest payments to its Bond and Debenture holders that was due in November and December of 2008.

The Company has issued 15,778,500 units (the "Units") and 421,500 additional common shares to settle total outstanding debt of $1,620,000. Each Unit was issued at a deemed price of $0.10 and consists of one common share and one-half of a share purchase warrant, with each whole warrant exercisable into an additional common share at a price of $0.15 for a period of two years from the date of issuance. Under TSX Venture Exchange rules, non-arm length parties may only receive shares as settlement for debt. Following this settlement, the Company's issued and outstanding share capital is 224,098,242.

In Norway the common shares will trade under ticker symbol TSU N. The ISIN/CUSIP is CA 8936514063. The common shares have been validly and legally issued, fully paid-up and properly registered in Canada.

The Company has made its filing with the TSX Venture Exchange for the re-pricing of the warrants issued in connection with the Bonds and Debentures and will issue a further press release once the TSX Venture Exchange has accepted that filing.

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, Ukraine and, through majority ownership in Eaglewood Energy Inc., in Papua New Guinea.

On behalf of the Board of Directors

David Worrall, CEO and President

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 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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