19th January 2011	TSX-V/Oslo Axess: TSU

Vancouver, Canada: - Transeuro Energy Corp. 
("Transeuro" or the "Company") issues an update on 
activities in Ukraine and Papua New Guinea.

In Ukraine the Karl-101 well has intersected the top 
C12 reservoir at 3107 metres, with strong gas shows 
up to 28% by volume in the drilling mud and, as at 6 
am local time, was drilling ahead at 3116 metres. The 
second potential interval within the C12 is 
anticipated from 3130-3145 metres and then the top 
C13 from around 3220 metres. 

On January 17th Eaglewood Energy Inc. (TSX-V: EWD)  
("Eaglewood") released the following news regarding 
the Ubuntu-1 well in PPL-259 in Papua New Guinea. 
Transeuro has a back-in option to acquire 10% of all 
four Petroleum Prospecting Licenses held by Eaglewood 
in PNG after three wells have been drilled on the 
licenses by paying 10% of the exploration costs. The 
Ubuntu-1 well is the second of the three wells.  The 
following is an extract from the Eaglewood news 
release:

"OPERATIONAL UPDATE ON UBUNTU-1 WELL

As at 21:00 hrs (GMT +10 hrs), the Ubuntu-1 well was 
drilling ahead in 8 œ"  hole at 2600 metres, after 
having successfully drilled and cased 12 Œ" hole to 
2405 metres. The Ubuntu-1 well is expected to reach 
total depth of approximately 3600 metres in early 
February. 

Over the course of the next week, the anticipated 
operations will be to drill the remainder of the 8 œ" 
hole to the top of the Alene Formation at 
approximately 3220 metres, and set the 7" liner." 

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's properties are located 
in Canada, Armenia, and 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: 		Chris 
McGillivray, IR, +1 604 728 0040
David Parry, SVP, +1 604 681 3939
					Karen 
Jenssen, IR, +47 91 729787
				
	http://www.transeuroenergy.com

Neither TSX Venture Exchange nor its Regulation 
Services Provider (as that term is defined in the 
policies of the TSX Venture Exchange) nor the Oslo 
Bors 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.

Ekstern link: http://www.newsweb.no/index.jsp?messageId=274541