Transeuro Energy Corp.Transeuro Energy Corp.
TSX-V: TSU   $0.02   unch   Vol:
Date: 05-06-2014   Time: 11:41 EST
Oslo Axess: TSU - link
Transeuro Energy Corp.
Transeuro Energy Corp.
Transeuro Energy Corp.
News Releases
Transeuro Energy Corp.

Show printable version of 'NEWS RELEASE -- UKRAINE RIG MOBILISATION & FRACTUR...' in a New Window
 February 23, 2012

 23rd February 2012 TSX-V/Oslo Axess: TSU

Calgary, Canada: - Transeuro Energy Corp. ("Transeuro" or the "Company") announces that the Company has commenced the mobilization of Dafora Rig 2 to prepare the wellbore for the planned hydraulic fracture stimulation of the Karl-101 well, located onshore West Crimea, Ukraine. The rig mobilization has been delayed from mid January due to the severe weather in Eastern Europe that interrupted the supply of equipment.

The rig is expected to be ready for operation by March 15th and will proceed to install 8 packers and 5 'FracPorts' across the C12, C13, C14, C15 and C16 intervals from 3100 meters -- 3500 meters depth, so that each interval can then be individually fractured. Rig operations are expected to take 2 to 3 weeks and the rig will then be dismantled and moved from the site to make space for the Schlumberger fracturing pumps and associated equipment.

Pumping operations are likely to occur during April and will create individual fractures in each of the 5 reservoir intervals, using over 800m3 of water and placing a total of 300 tons of synthetic proppant into the reservoirs. These reservoir intervals flowed a cumulative stable rate of 16,000m3/day during testing in 2011. Third party independent report estimates Mean Gas In Place in these horizons of the Karlavskoye field at 472 Bcf.

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. 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

For further information contact:
Darren Moulds, IR, +1 403 705 1919
Karen Jenssen, IR, +47 91729787

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) nor the Oslo Axess accepts responsibility for the adequacy or accuracy of this 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.
This press release contains "forward-looking information" which may include, but is not limited to, statements with respect to our operations. Such forward-looking statements reflect our current views with respect to future events and are subject to certain risks, uncertainties and assumptions. See our Annual Information Form for a description of risks and uncertainties relevant to our business, including our exploration and development activities. Test production rates may vary from sustained production rates when developing a well or a deposit. The commerciality of any discovery can be affected by many factors including product prices, operating costs, capital costs, government take and sustained production levels and ultimate recovery of hydrocarbons. Hydrocarbon indications from drilling or wireline log data do not necessarily mean that mobile hydrocarbons are present in the formation or can be produced.

You can view the Next News Releases item: Wed Feb 29, 2012, NEWS RELEASE -- PRELIMINARY YEAR-END FINANCIAL RESULTS

You can view the Previous News Releases item: Wed Feb 8, 2012, NEWS RELEASE -- JANUARY PRODUCTION

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