Transeuro Provides Ukraine Update

Transeuro Energy Corp. ("Transeuro", or the "Company") (TSX
VENTURE:TSU)(OSLO:TSU) provides an update on its activities in Ukraine.


On the Karlavskoye 101 well the Company has drilled to the section TD at
3,553.5m, with a number of gas kicks being successfully controlled over the
final 50 metres. Based on the available data a potential total gross gas column
in the well of approximately 600m is interpreted. While drilling out of the
bottom of the reservoir a high pressure water zone was encountered that has
resulted in the drillpipe becoming stuck in the well. Operations are continuing
to recover the drillpipe. Subject to successful operations it is then planned to
run casing and conduct flow testing of the primary target.


The exploration and pilot production license for the Povorotnoye field has been
extended for a further year, to June 2009. Drilling operations are planned to
commence during Q3 2008. The well is expected to take six to nine months to
drill. The drilling contractor will be the Ukrainian company 'Mirgorod', who
have been working for some of the other foreign companies in Ukraine (such as
Cadogan and JKX). Mirgorod were chosen following an audit of available Ukrainian
contractors.


Transeuro and Rohol-Aufsuchungs Aktiengesellschaft ("RAG") have appointed Neil
Stewart as the Managing Director of Scythian Energy BV. ("Scythian"). The two
companies will carry out operations in the Ukraine through Scythian. Mr. Stewart
has managed operations in Ukraine for Transeuro over the last two years and will
continue in the same capacity for Scythian. The parties have also appointed
David Worrall as Chairman of the Scythian Supervisory Board.


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.


Barrel of oil equivalent ("boe") amounts may be misleading, particularly if used
in isolation. A boe conversion ratio has been calculated using a conversion rate
of six thousand cubic feet of natural gas to one barrel and is based on an
energy equivalent conversion method application at the burner tip and does not
necessarily represent an economic value equivalent at the wellhead.

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