RAG Rage Energy Ltd. (Tier2)

Transeuro Energy Corp. ("Transeuro", or the "Company") (TSX
VENTURE:TSU)(OSLO:TSU) announces that it has today received notice from
Rohol-Aufsuchungs Aktiengesellschaft ("RAG"), its joint venture partner in the
Ukraine, that RAG is withdrawing from the parties Dutch joint venture company,
Scythian Energy. Scythian Energy indirectly controls all of the joint venture
projects in the Ukraine. Transeuro is currently considering its options,
including a review of whether RAG's withdrawal is compliant with the terms of
the joint venture agreement and the conduct of the parties. Transeuro will
continue to pursue its strategy in the Ukraine, however, may commence
discussions with other potential partners to acquire RAG's interest.


Transeuro Energy Corp. 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, Ukraine and, through majority ownership in Eaglewood Energy Inc., in
Papua New Guinea.


On behalf of the Board of Directors

Harold Hemmerich, President and CEO

This press release does not constitute an offer to sell or solicitation of an
offer to sell any of the securities in the United States. 


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.

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