Transeuro Energy Corp. - News Releases - General Corporate Update

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	February 19, 2010 General Corporate Update
	Vancouver, Canada: -Transeuro Energy Corp. ("Transeuro" or the "Company") reported today that the Company settled the Series B debenture on January 29th 2010 with full payment of CDN$2 million and interest to the holders. In addition, the Company has proposed a full repayment to the Series A debenture holders of CDN$2 million in conjunction with the ongoing debt placement with Orion Securities ASA. In support of its planned resumption of operations on the Karl-101 well in Ukraine, the Company has signed a letter of intent with Weatherford Drilling International BVI Ltd. (www.weatherford.com; NYSE: WFT), for the use of rig 809 that is currently drilling in Crimea for another operator. The start of gas sales from the Krasnapolianskoye field in Crimea under the contract with AGC has been significantly delayed due to the late delivery of Compressed Natural Gas trucks from Russia that are now expected in April 2010, and delayed investment in the gas plant by AGC. Consequently, gas sales are now anticipated to commence in June 2010. Transeuro will be selling gas at the wellhead from wells 5 & 11 and is not responsible for financing or installing the production equipment. Gross field production at the Beaver River field in British Columbia during December 2009 and January 2010 was 39.2 mmcf and 30.0 mmcf, respectively, or an average of 1.26 mmcf/d (35,800m3/d) and 1.0 mmcf/d (27,260m3/d), respectively. The Company holds a 50% working interest in the Beaver River Field. The Company has signed a letter of intent with a private Russian company to further investigate the possibility of financing workover operations to commence oil production from 3 existing wells on 2 oilfields in Southern Russia and for a 50% ownership of the operating company. The Company is preparing an independent reserves report and will provide further details when available. 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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