Energy SpA — Capital/Financing Update 2014

Jul 18, 2014

NEWS RELEASE - CORPORATE UPDATE

NEWS RELEASE - CORPORATE UPDATE

Calgary, Canada: - Transeuro Energy Corp.

("Transeuro" or the "Company") announces that at the

bondholders meeting related to the Senior Secured

Convertible Bond, 100 percent of the votes supported

a standstill agreement effective until November 15th

2014. The agreement entails that the Company will

pay the interest, which fell due May 22nd, 2014 plus

late payment interest, as soon as specific

transactions regarding the Company's assets are

concluded. The proceeds of such transactions should

enable the Company to complete outstanding

disclosures, including year-end audit requirements,

to resume trading in due course, and other payments.

The Company has recently pursued a number of

activities to enable the Company to resume normal

business. Priority has been given to the negotiation

of the standstill agreement with bondholders ensuring

that the Company is allowed time to finalize and

complete its strategies and initiatives.

The Board apologizes for not being able to provide

more information related to specifics on time or

content on current activities due to confidentiality

clauses in the ongoing advanced negotiations.

As to other significant updates, the Company has been

informed that the ratification of the Hamza

Development Plan in Jordan is up for parliamentary

ratification following the end of Eid (Middle East

Holidays) on July 29th, 2014. However no specific

date for the ratification has been provided.

Furthermore, Mr. David Worrall will step down as

Company President & CEO effective August 1st, 2014

and Mr. Aage Thoen will take the position as

Executive Chairman and non-paid Company President &

CEO until further notice.

The Board wishes to thank all stakeholders and

Company employees for their support and dedication

during a very challenging period as well as sharing

the objectives for securing Company long term

sustainability. The Board also wishes to highlight

that the Company is in active merger and acquisition

discussions as well as prioritizing to resume

production in Beaver River as quickly as possible.

The Company will provide periodical updates as soon

as material and concrete events unfold.

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, has interest in gas exploration and appraisal

developments in Crimea, Ukraine and an oilfield

redevelopment project in Jordan.

On behalf of the Board of Directors

Aage Thoen, Chairman

For further information contact:

Darren Moulds, IR, +1 403 705 1919

http://www.transeuroenergy.com

Neither the TSX Venture Exchange nor its Regulation

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.