If they go bankrupt i wonder what the BR deal will work out!

http://www.newsweb.no/newsweb/index.jsp?messageId=223236&lang=

November 14, 2008 TSX-V/ Oslo Axess: TSU

Vancouver, Canada: - Transeuro Energy Corp. 
(`Transeuro`, or the `Company`) announces that it 
has suspended the interest payments due under the 
US$15million bond offering that closed in November 
2007 and the CDN$4million debenture offering that 
closed in May 2008.  The interest payments under 
the bond offering were due yesterday and the 
interest payments under the debenture offering are 
due today.  The Company has contacted the Trustee 
for the bondholders and has requested that a 
meeting of bondholders be convened to approve a 
four week extension to the due date for the 
interest payment.  The Company has also contacted 
the Trustee for the debenture holders and expects 
to convene a meeting of debenture holders to 
request a similar extension.  The Company is 
currently reviewing its options and expects to be 
able to present a proposal to its debt holders 
within the next few weeks.

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

For further information contact:

David Parry  - Vancouver, Canada  
+1 (604) 681 3939 Phone

Karen O. Jenssen - Oslo, Norway
[email protected]

http://www.transeuroenergy.com                      

The TSX Venture Exchange has not reviewed, and does 
not accept responsibility for the adequacy or 
accuracy of the content of this news release. 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.