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Re: News Releases - Friday, May 10, 2013
NEWS RELEASE -- POVOROTNOYE FINANCING UPDATE
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Calgary, Canada: - Transeuro Energy Corp. ("Transeuro" or the
"Company") announces the news released today by Aleator Energy Ltd,
"Aleator" (ASX:AWD) regarding the private share placement completed by
Aleator for $2.7 million. The following is an extract from the Aleator
announcement on 10th May 2013 and the full text can be viewed at:
http://www.asx.com.au/asx/research/companyInfo.do?by=asxCode&asxCode=a
wd
The funds raised by the Placement will enable Aleator to satisfy two of
the Conditions Precedent for the previously announced USD$20 million
loan.
.. To have Net available cash of at least $1.5 million at the date of
the first drawdown: and
.. To pay all expenses and legal fees prior to the first draw down.
The remaining outstanding Condition Precedent "All Finance and security
documentation to be executed and registered as necessary" is currently
being attended to and is expected to be completed shortly, with tranche
one ($US10 million) of the loan drawn down immediately there after.
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
http://www.transeuroenergy.com
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.
..
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Copyright (c) 2013 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 Fri May 10, 2013 at 8:10:02 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. |