Transeuro Energy Provides Update on its Ukraine Operations

Transeuro Energy Corp. is pleased to issue an update on its Ukraine operation as follows:

Operations for the first production test of the previously announced 4 test programme on Karl-101 are continuing. The well has been flowing for 20 hours to obtain preliminary data prior to the planned acid stimulation. The maximum hourly production rate during this flow period was 4.7 million cubic feet (131,000 cubic metres) per day and an average condensate yield of 50 barrels per million cubic feet, giving a maximum combined rate of 1,018 barrels of oil equivalent per day (boepd).

The Company expects to perform the acid stimulation later this week and then conduct the main flow period of 48 hours or more. The Company will issue announcements as appropriate throughout the testing period. The testing program is subject to change depending on actual results.

The President & CEO, David Worrall commented; “These preliminary results exceed our expectations for the pre-acidising flow period and we would expect the acidizing to further enhance the well performance. We perforated 43m in this first test and plan on perforating around the same length in each of the remaining 3 tests.”

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Source: Transeuro Energy , March 23, 2011;