Transeuro Energy Corp.

Transeuro Energy Corp.

November 14, 2008 09:15 ET

Transeuro Suspends Interest Payments

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 14, 2008) - Transeuro Energy Corp. ("Transeuro", or the "Company") (TSX VENTURE:TSU)(OSLO:TSU) announces that it has suspended the interest payments due under the US$15million bond offering that closed in November 2007 and the CDN$4million debenture offering that closed in May 2008. The interest payments under the bond offering were due yesterday and the interest payments under the debenture offering are due today. The Company has contacted the Trustee for the bondholders and has requested that a meeting of bondholders be convened to approve a four week extension to the due date for the interest payment. The Company has also contacted the Trustee for the debenture holders and expects to convene a meeting of debenture holders to request a similar extension. The Company is currently reviewing its options and expects to be able to present a proposal to its debt holders within the next few weeks.

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

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 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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