Transeuro Energy Corp.
TSX VENTURE : TSU
OSLO STOCK EXCHANGE : TSU

Transeuro Energy Corp.

February 14, 2011 09:39 ET

Transeuro Energy Corp.: Ukraine Drilling Ahead in C16

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Feb. 14, 2011) - Transeuro Energy Corp. ("Transeuro" or the "Company") (TSX VENTURE:TSU)(OSLO:TSU) issues an update on its Ukraine operations.

The well has drilled through the C14 and C15 intervals with continuous background gas and connection gas up to 30% by volume. Drilling has continued into the C16 where another gas kick has occurred and the mud weight has been increased to 1.63 s.g. (specific gravity). The depth as of 6am today is 3,496 metres. The forward plan is to drill to around 3,520 metres where logging operations will be performed.

President & CEO, David Worrall commented; "The indications from the well, in terms of target intervals, gas shows and mud weights are in line with our expectations. With around 20m left to drill we are now preparing for logging operations to confirm the exact location of the deeper targets so we can confirm the Total Depth (TD) of the well and then run the 7 inch casing."

Transeuro 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. In addition, the Company holds a back-in option to Eaglewood Energy Inc.'s exploration licenses in Papua New Guinea.

On behalf of the Board of Directors

Aage Thoen, Chairman 

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.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) nor the Oslo Bors accepts responsibility for the adequacy or accuracy of this release.

Contact Information

  • Transeuro Energy Corp.
    Chris McGillivray
    IR
    +1 604 728 0040
    or
    Transeuro Energy Corp.
    David Parry
    SVP
    +1 604 681 3939
    or
    Transeuro Energy Corp.
    Karen Jenssen
    IR
    +47 91 729787
    www.transeuroenergy.com