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 -- POVOROTNOYE LOAN DRAWDOWN' in a New Window
 May 27, 2013

 Calgary, Canada: - Transeuro Energy Corp. ("Transeuro" or the "Company") announces the news released today by Aleator Energy Ltd, "Aleator" (ASX:AWD) that the drawdown process for the US$20 million loan has commenced. The following is an extract from the Aleator announcement on 27th May 2013 and the full text can be viewed at:

Aleator Energy Limited is pleased to advise that the finance and security agreements between Aleator's subsidiary and Gres Holdings Limited ("Gres") has been signed, thereby completing the final condition precedent for the loan facility.....

Aleator has provided Gres with notice to draw down the first tranche of US$10 million and this proess is underway.......Funds from the first draw down will allow Aleator to secure one of the available drilling rigs, commence mobilization and acquire the outstanding items required to drill the Pov 105 well............for a Q3 spud timeframe. The anticipated drilling time of the well is 55-70 days. .

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.

On behalf of the Board of Directors
Aage Thoen, Chairman

For further information contact:
Darren Moulds, IR, +1 403 705 1919

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.

You can view the Next News Releases item: Thu May 30, 2013, NEWS RELEASE -- Q1 2013 QUARTERLY REPORTS

You can view the Previous News Releases item: Fri May 10, 2013, NEWS RELEASE -- POVOROTNOYE FINANCING UPDATE

You can return to the main News Releases page, or press the Back button on your browser.