EAGLEWOOD ENERGY ANNOUNCES PPL 259 FARM OUTS

TRANSEURO ENERGY CORP.
1578 - 609 Granville Street
Vancouver, B.C. V7Y 1G5

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, +1 403 705 1919
Karen Jenssen, IR, +47 91729787

info@transeuroenergy.com
http://www.transeuroenergy.com

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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.