Vancouver, Canada: - Transeuro Energy Corp. ("Transeuro" or the "Company") announces that October gas production from the Beaver River field in Canada was 1,836,670m3 (59,247m3 per day or 2.1 mmcf/d). The reduction in October was due to high pressure in the export line that will cease to be a constraint once the new compressor is installed. Also the shutdown of A-2 and A-7 for 5 days to tie in the new compressor, and shut down of A-5 for 12 days for winterization modifications.
The second phase of compression upgrades are almost complete, with final instrumentation work ongoing. The Company expects the unit to be operational within the next week and to then achieve the production target of 100,000m3 per day from the field.
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 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
For further information contact:
Chris McGillivray, IR, +1 604 681 3939
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.
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Copyright (c) 2011 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 Wed Nov 9, 2011 at 9:32:38 AM Pacific Time
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Transeuro Energy Corp.
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CODE : TSU.V |
ISIN : 8936511093 |
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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. |