Transeuro update on Beaver River

Transeuro Energy Corp. reports on the recent test results from the A-8 well at the Beaver River Field.

Test operations have been performed on the uppermost of three prospective intervals in the reservoir, consisting of 20m of perforations out of the entire 230m of Nahanni reservoir. Following the initial test in January, this top interval was placed on an extended flow and buildup and flowed at stabilized rates of approximately 400 mcf/d (67 boe/d) and 900 bbls/d of formation water on a 3/8” choke with a flowing tubing pressure of 4300 kPa.

Transeuro is currently evaluating further testing of the Nahanni as the data collected during this test suggested that the upper interval may be partially isolated from the lower intervals and that both lower intervals still have the potential to flow dry gas. The Company is also assessing testing of the shallower prospective zones. The construction of pipelines and production facilities for this well will depend on the final test results from the Nahanni and the shallower zones.