Transeuro Energy Corp.
TSX VENTURE : TSU

Transeuro Energy Corp.

March 07, 2007 00:15 ET

Transeuro Enters Into Mandate Agreement, Applies to List on Oslo Stock Exchange and Announces $82 Million Private Placement

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - March 7, 2007) -

NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES

Mr. Hal Hemmerich, President and Chief Executive Officer of Transeuro Energy Corp. (the "Company") (TSX VENTURE:TSU), is pleased to announce that the Company has entered into a mandate agreement with DnB Nor Markets, a part of DnB NOR Bank ASA and Pareto Securities ASA (collectively, the "Managers") of Oslo, Norway, in relation to an application for a contemplated secondary listing of the Company's shares on the Oslo Stock Exchange. The Company has filed its listing application with the Oslo Stock Exchange and anticipates, subject to approval by the Oslo Stock Exchange, its listing application to be effective in the second quarter of 2007.

The Company is also pleased to announce that prior to its listing on the Oslo Stock Exchange it will carry out a private placement to be led by the Managers to raise up to $82,350,000 by the issuance of up to 135,000,000 common shares at a price of $0.61 per share. The private placement will be marketed to institutional and professional investors in both Norway and internationally (excluding Canada, Australia and Japan). It is anticipated that the shares that will be issued under the private placement will be quoted on the Over-The-Counter market in Norway (OTC) operated by the Norwegian Securities Dealers Association pending the Company's listing application on the Oslo Stock Exchange. The Company proposes to do a further retail offering under a Norwegian prospectus in connection with the listing of the Company's common shares on the Oslo Stock Exchange. All shares issued pursuant to the private placement and the retail prospectus offering will be subject to a four month restricted period in Canada, but will not be subject to any restrictions on trading in Norway. The private placement is subject to approval from the TSX Venture Exchange.

The Company will use the proceeds of the private placement for further exploration and advancement of its oil and natural gas properties in Canada, Armenia, Ukraine and Papua New Guinea and for general working capital.

On behalf of the Board of Directors

Harold Hemmerich, President and CEO

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 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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