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| News Release |
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| | Thursday, February 21, 2008
Beaver River Update
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Vancouver, Canada: - Transeuro Energy Corp. ("Transeuro", or the "Company") reports today on the recent test results from the A-8 well at the Beaver River Field.
Test operations have been performed on the uppermost of three prospective intervals in the reservoir, consisting of 20m of perforations out of the entire 230m of Nahanni reservoir. Following the initial test in January, this top interval was placed on an extended flow and buildup and flowed at stabilized rates of approximately 400 mcf/d (67 boe/d) and 900 bbls/d of formation water on a 3/8'' choke with a flowing tubing pressure of 4300 kPa.
Transeuro is currently evaluating further testing of the Nahanni as the data collected during this test suggested that the upper interval may be partially isolated from the lower intervals and that both lower intervals still have the potential to flow dry gas. The Company is also assessing testing of the shallower prospective zones. The construction of pipelines and production facilities for this well will depend on the final test results from the Nahanni and the shallower zones.
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 in Papua New Guinea through majority ownership in Eaglewood Energy Inc.
On behalf of the Board of Directors
"Harold Hemmerich" President and CEO
For further information contact:
David Parry - Vancouver, Canada
+1 (604) 681 3939 Phone
http://www.transeuroenergy.com
Karen O. Jenssen -- Oslo, Norway
+ 47 917 29 787
kjenssen@transeuroenergy.com
The TSX Venture Exchange has not reviewed, and does not accept responsibility for the adequacy or accuracy of the content of this news release. 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 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.
Barrel of oil equivalent ("boe") amounts may be misleading, particularly if used in isolation. A boe conversion ratio has been calculated using a conversion rate of six thousand cubic feet of natural gas to one barrel and is based on an energy equivalent conversion method application at the burner tip and does not necessarily represent an economic value equivalent at the wellhead.
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