FINANCING AGREEMENTS COMPLETED


Calgary, Canada: - Transeuro Energy Corp. ("Transeuro" or the
"Company") announces that the
Company has signed final agreements with YA Global Master SPV Ltd (YA
Global), which is advised by Yorkville Advisors LLC (Yorkville),
including a Loan Agreement for up to CAD 5 million, and a Share
Purchase Agreement (SPA) for up to NOK 100 million (approximately CAD
17.2 million).

Yorkville is an alternative investment manager and provider of
specialised financing solutions, based in the USA, with offices
worldwide. They offer flexible, innovative debt and equity investments
and financing in publically listed companies in a variety of sectors.
Yorkville has provided similar financing agreements to companies such
as: San Leon Energy; Tower Resources; Ascent Energy and Red Rock Energy
among others.

Under the terms of the Loan Agreement, Transeuro can receive up to CAD
5 million over a period of 24 months, which shall be advanced in
tranches of CAD 1 million with repayment over 12 months. The loan will
be unsecured and pay annual interest at 10%. The Company has drawn the
first instalment of the Loan Agreement in the amount of CAD 1 million
and has issued 1 million, one year share purchase warrants with the
exercise price of CAD 0.168 to YA Global.

Pursuant to the proposed terms of the SPA, the Company has the
discretion to withdraw funds in tranches up to a total of NOK 100
million over a period of 36 months. At the request of the Company YA
Global will, subject to a number of conditions as set out in the SPA,
be obligated to purchase ordinary shares at a discount of 5% to the
average of the lowest volume weighted average share price of the
Company during four consecutive 10 day forward pricing period.
Alternatively the Company may elect a backward pricing period whereby
YA Global will purchase shares at a 10% discount to the lowest volume
weighted average share price of the Company during a 5 day backward
pricing period. The Company will prepare and file a Shelf Prospectus in
Canada to facilitate the issuance of new shares under the SPA and will
announce each individual drawdown.

Completion of these financing agreements (SPA and the Loan Agreement)
was a condition precedent of the previously announced Senior Secured
Convertible Bond that is scheduled for settlement on May 22nd. The
final terms of the Senior Secured Convertible Bond is an amount of NOK
60 million (approximately CAD 10.4 million), annual interest at 12% and
a conversion price at NOK 0.85 (approximately CAD 0.146). The bond is
secured against the shares of Transeuro Beaver River Inc, the Company
subsidiary holding title to 50% of the Beaver River field in British
Columbia, Canada.  Fondsfinans ASA acted as sole arranger in connection
with the convertible bond issue.

Final completion of the Senior Convertible Bond completes a set of
funding facilities totalling approximately CAD 33 million of which CAD
11 million is received immediately. The remaining CAD 4 million from
the loan agreement can be drawn in tranches of CAD 1 million over 24
months and the CAD 17 million from the Share Purchase Agreement is
available in tranches over the next 36 months, the size of which will
depend on various factors, such as pricing and trading volumes.

Aage Thoen, Chairman of Transeuro Energy Corp. commented "This
financing is transformation for the Company and underpins the markets
belief in our assets. The funds have been raised in uncertain financial
market conditions and provide the Company with the ability to pursue
longer term programmes with flexibility and confidence and to engage
strategies for further growth as opportunities emerge."

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.