Energy SpA — Capital/Financing Update 2014

May 26, 2014

NEWS RELEASE - CONVERTIBLE BOND UPDATE

NEWS RELEASE - CONVERTIBLE BOND UPDATE

Calgary, Canada: - Transeuro Energy Corp.

("Transeuro" or the "Company") announces that it has

established an ongoing dialogue with the majority of

the outstanding convertible bond holders to discuss

alternative arrangements for the existing convertible

bonds. The Company continues to be in non-compliance

with certain covenants and has failed to make the

most recent 12% interest payment on May 22nd. The

outstanding amount of the bond is NOK 43.5 million.

The Company will continue working with its advisors

and the bond holders to develop forward plans to

obtain access to additional financing, explore

merger/acquisition opportunities and will provide

updates as appropriate.

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.