Transeuro Energy Corp. - News Releases - Appointment Of Financial Advisor

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	February 01, 2010 Appointment Of Financial Advisor
	Vancouver, Canada: Transeuro Energy Corp. ("Transeuro" or the "Company") announces that it has engaged Orion Securities AS ("Orion") of Oslo, a subsidiary of 'Terra Group AS' as Financial Advisors for a planned issue of a secured bond in the range of NOK 75-125 million by the end of February 2010. Over the last 4 months, Transeuro has conducted a review of the various options available to the Company to raise funds to continue development of its assets. The review has included potential farm-outs of existing assets to third parties. Discussions with numerous companies have taken place, but no acceptable offers have been received to date. The Company has therefore decided to retain its interest in its assets and to raise funds independently. An equity raise was considered, but the current share price would require a significant dilution for existing shareholders. The board has sought offers from a number of investment banks on a debt placement and has accepted, subject to TSX Venture Exchange approval, the proposal from Orion as being in the best interest of shareholders. The proposed range of funding will allow Transeuro to pursue a number of activities. Funding of a minimum of NOK 75 million will allow the Company to complete the Karl-101 well in Crimea, Ukraine. The Company intends to use a modern, international drilling rig to complete the well and thereby avoid the poor drilling performance of the previous local contractor. If the maximum funding is obtained, then the Company will complete Karl-101 in Ukraine and pursue its previously stated strategic acquisition of an oil asset with either existing production of up to 1,000 bopd or else a high likelihood of production at this level in the very short term. In addition, the Company will allocate funds to pursue activities in the Beaver River field in British Columbia, Canada. As part of the debt placement the Company will settle the Series A debenture, and will obtain funding to cover G&A costs for a minimum of 12 months. Funds will also be set aside to pay interest on the debt for a minimum of 18 months. The Chairman of the Board, Mr. Aage Thoen, states, "the Board and Management have evaluated the various options available to the Company to provide a solution that we believe protects the value for our existing shareholders, that secures the Companies future and allows the Company to progress its assets onto the next phase." 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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