Re: News Releases - Thursday, November 29, 2012
NEWS RELEASE -- UKRAINE UPDATE
Calgary, Canada: - Transeuro Energy Corp. ("Transeuro" or the
"Company") announces that it has entered into negotiations with the government partner and the Ukraine Government to ratify and amend the Company's Joint Activity Agreement (JAA) related to the Karlavskoye and Krasnapolianskoye Licenses. The Krasnapolianskoye License expired on November 21, 2012 and the government partner is in the process of renewing the license.
The current negotiations include discussions over the construction of a Gas Treatment Plant (GTP) and tie-in of wells on the Krasnapolianskoye license, the objectives and well design for a well 'Karl-102' on the Karlavskoye License and other commercial and business terms. The parties have agreed to abandon the Karl-101 well.
ABOUT THE COMPANY
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