Transeuro Energy Corp. - News Releases - General Update

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	December 18, 2009 General Update
	Vancouver, Canada: Transeuro Energy Corp ("Transeuro" or the "Company") reported today that production at the Beaver River field in British Columbia, Canada resumed during October after being shut in during the summer due to the low gas prices. The three production wells, A-2, A-5, and A-7 have been flowing at a reduced rate due to the high pressure in the main export line. Gross field production in October was 14 mmcf (0.4 mmcm) and in November was 70 mmcf (2 mmcm) or an average of 2.3 mmcf/d (66,000 m3/d). The Company holds a 50% working interest in the Beaver River Field. As of mid-December, the Company has sold 842,860 common shares in Eaglewood Energy Inc. ("Eaglewood") for net proceeds of approximately CDN$1,000,000. The funds will be utilized for general corporate purposes and for the payment of outstanding minor debts. Following the sale, the Company retains approximately 11.3 million shares (representing 19.5% ownership) in Eaglewood. The Company has also reached an agreement with the Series B Debenture holders to extend final repayment until January 29, 2010. 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 owns shares in Eaglewood and holds a back-in option to their exploration licenses in Papua New Guinea. On behalf of the Board of Directors Aage Thoen Chairman For further information contact: David Parry, SVP, +1 604 681 3939 Karen Jenssen, IR, +47 91 729787 http://www.transeuroenergy.com The TSX Venture Exchange and Oslo Bors have not reviewed, and do not accept responsibility for the adequacy or accuracy of the content of this news 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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