=======================================================================
Re: News Releases - Tuesday, July 24, 2012
NEWS RELEASE -- KARL-101 TESTING UPDATE
=======================================================================
Calgary, Canada: - Transeuro Energy Corp. ("Transeuro" or the
"Company") announces that the testing operations following the
multi-stage fracking operations on Karl-101 have been temporarily
delayed while the Company reviews the results to date and mobilizes
additional equipment into Ukraine to eliminate water production in one
interval of the well.
The flow rates tested to date are not considered reliable indications
of the well performance that may occur once the water is shut off and
are therefore not reported. The company will make further announcements
when testing operations resume and as necessary.
David Worrall, President & CEO commented, "the hydraulic fracturing was
successful in that we have markedly increased the flow rates, but the
unexpected water production that seems to be coming from one of the
five intervals is complicating the analysis. We have been attempting to
shut off the water but now need to use other methods, but we do not
have these contingencies available in Ukraine. We will temporarily
delay our testing operations while we review alternatives together with
our Ukrainian partners and then bring the new equipment to the well
site to eliminate the water and conclude on total gas flow rates".
ABOUT THE COMPANY
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 owns 100% of a gas
producing property located in British Columbia, Canada and has interest
in gas exploration and appraisal developments in Crimea, Ukraine.
On behalf of the Board of Directors
Aage Thoen, Chairman
For further information contact:
Darren Moulds, IR, +1 403 705 1919
Karen Jenssen, IR, +47 91729787
http://www.transeuroenergy.com
Neither the TSX Venture Exchange nor its Regulation Services Provider
(as that term is defined in the policies of the TSX Venture Exchange)
nor the Oslo Axess accepts responsibility for the adequacy or accuracy
of this release. 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.
This press release contains "forward-looking information" which may
include, but is not limited to, statements with respect to our
operations. Such forward-looking statements reflect our current views
with respect to future events and are subject to certain risks,
uncertainties and assumptions. See our Annual Information Form for a
description of risks and uncertainties relevant to our business,
including our exploration and development activities. Test production
rates may vary from sustained production rates when developing a well
or a deposit. The commerciality of any discovery can be affected by
many factors including product prices, operating costs, capital costs,
government take and sustained production levels and ultimate recovery
of hydrocarbons. Hydrocarbon indications from drilling or wireline log
data do not necessarily mean that mobile hydrocarbons are present in
the formation or can be produced.
=======================================================================
Copyright (c) 2012 TRANSEURO ENERGY CORP. (TSU) All rights reserved.
For more information visit our website at
http://www.transeuroenergy.com/ or send mailto:info@transeuroenergy.com
Message sent on Tue Jul 24, 2012 at 6:00:00 AM Pacific Time
=======================================================================
.
|
Transeuro Energy Corp.
|
|
|
CODE : TSU.V |
ISIN : 8936511093 |
|
| |
ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
Transeuro Energy is a and oil exploration company based in Canada. Transeuro Energy holds various exploration projects in Armenia, in Canada, in Papua New Guinea and in Ukraine. Its main exploration properties are BEAVER-RIVER in Canada, CRIMEA in Ukraine and BLOCK 2 in Armenia. Transeuro Energy is listed in Canada and in United States of America. Its market capitalisation is CA$ 6.9 millions as of today (US$ 6.2 millions, € 4.9 millions). Its stock quote reached its highest recent level on August 05, 2005 at CA$ 3.20, and its lowest recent point on May 09, 2014 at CA$ 0.02. Transeuro Energy has 345 230 016 shares outstanding. |