VANCOUVER, BRITISH COLUMBIA--(Marketwire - Feb. 28, 2011) - Transeuro Energy Corp. ("Transeuro" or the "Company") (News - Market indicators)(OSLO:TSU) is pleased to issue the weekly update on its Ukraine operation as follows:
The President & CEO, David Worrall commented; "The preliminary analysis of the logs is in line with our expectations, and we have encountered deeper targets in the C15 and C16 that were not logged in the first wellbore in 2008. Analysis of the logging data is ongoing and the Company will shortly release the results and the final plans for the first production test."
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, Armenia, 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
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.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) nor the Oslo Bors accepts responsibility for the adequacy or accuracy of this release.
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