Transeuro Energy Corp. : NEWS RELEASE -- EAGLEWOOD ENERGY ANNOUNCES PPL 259 FARM OUTS

 30th January 2012 TSX-V/Oslo Axess: TSU

Vancouver, Canada: - Transeuro Energy Corp. ("Transeuro" or the "Company") announces the news released by Eaglewood Energy Inc ("Eaglewood") regarding the sale of interest in PPL 259 in Papua New Guinea. Transeuro has a back-in option until three wells are drilled on the Petroleum Prospecting Licenses (PPL) held by Eaglewood in PNG (at the time that Transeuro transferred its interest in the licenses), to acquire 10% of all four Licenses by paying 10% of the exploration costs, provided the licenses are still valid. To date two of the three wells have been drilled, resulting in the Ubunti gas condensate discovery. In November 2011 Eaglewood sold its interest in PPL 260, although the Transeuro back-in option related to this license is still available to Transeuro until the third well is drilled. The following is an extract from the Eaglewood January 24th, 2012 news release:

"Eaglewood Energy Announces PPL 259 Farmouts"

CALGARY, Alberta, Canada -- January 24, 2012 - Eaglewood Energy Inc. ("Eaglewood") is pleased to announce that it has executed farmout agreements with Ketu Petroleum Ltd, a wholly owned subsidiary of Horizon Oil Ltd (a company listed on the Australian Stock Exchange ("Horizon") and Mega Fortune International Ltd ("Mega"), currently a 10% equity participant in Eaglewood's PPL 259 and PRL 28. Each farmout is for 25% of Eaglewood's 90% equity interest in PPL 259 in the Western Province of PNG. In the event of completion of both transactions, Eaglewood will continue to own a 40% equity interest in PPL 259 and retain operatorship.

Horizon is the operator of PRL 4 which contain the Stanley discovery and is adjacent to the western end of PPL-259. Horizon is also the operator of PRL 21 which contains the Elevala and Ketu discoveries and is adjacent to the Ubunti-1 discovery (PRL-28) drilled by Eaglewood last year. Mega was already an equity participant in PPL 259 and as such had a right to acquire an additional 25% on the same terms as the Horizon transaction.

To earn their respective 25% interests, each of Horizon and Mega will pay to Eaglewood USD $15.4 million, comprised of USD $2.68 million upon completion of the agreement for Eaglewood's sunk costs, and in addition to funding their 25% equity position, each will pay USD $1.375 million to cover Eaglewood's expenses in the upcoming PPL 259 seismic program and USD $5 million to cover Eaglewood's expenses in the next well to be drilled in PPL 259. Both transactions are conditional upon receipt of regulatory approvals and other customary conditions.

The Company's Chairman, Mr Aage Thoen, commented: "The value indicated by this transaction and the recent success of the Elevala-2 well drilled by Horizon Oil in the immediate vicinity are positive for the back in option. Additional value comes from the option to acquire 10% of PPL 260 held by Exxon Mobil and Oil Search and in the offshore PPL 257 that contains the sizeable Buna prospect. We continue to watch developments in the area and await the results of the third 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. 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, [phone]
Karen Jenssen, IR, [phone]
http://www.transeuroenergy.com

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.