British Columbia

Transeuro Energy Corp., Vancouver, BC, plans to purchase from Questerre Energy Corp. the 50% interest it doesn’t already own in Beaver River gas field in Northeast British Columbia.

Sept. 10, 2010

By OGJ editors
HOUSTON, Sept. 10 – Transeuro Energy Corp., Vancouver, BC, plans to purchase from Questerre Energy Corp. the 50% interest it doesn’t already own in Beaver River gas field in Northeast British Columbia.

The agreement will extinguish $4.3 million of payables owed to Questerre in exchange for 40 million shares or 9.5% of Transeuro. Questerre becomes Transeuro’s largest single shareholder.

Transeuro said the purchase will give it 100% interest in the field and the emerging Besa River shale gas play. It clears the way for continuing the appraisal program as it better positions the asset to attract a farm-in partner.

Questerre will retain an interest in the field to participate in the upside possible from the Besa River shales, and Questerre is also exposed to the potential high impact gas assets that Transeuro owns in the Ukraine.