News Release - Povorotnoye Financing Update
(via Thenewswire.ca)
Calgary, Canada: - Transeuro Energy Corp. ("Transeuro" or
the "Company") announces the news released today by Aleator
Energy Ltd, "Aleator" (ASX:AWD) regarding the private share
placement completed by Aleator for $2.7 million. The following is an
extract from the Aleator announcement on 10th May 2013 and the full
text can be viewed at:
http://www.asx.com.au/asx/research/companyInfo.do?by=asxCode&asxCode=awd
The funds raised by the Placement will enable Aleator to satisfy two
of the Conditions Precedent for the previously announced USD$20
million loan.
-To have Net available cash of at least $1.5 million at the date of
the first drawdown: and
-To pay all expenses and legal fees prior to the first draw down.
The remaining outstanding Condition Precedent "All Finance and
security documentation to be executed and registered as
necessary" is currently being attended to and is expectedto be
completed shortly, with tranche one ($US10 million) of the loan drawn
down immediately there after.
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 and has
interest in gas exploration and appraisal developments in Crimea,
Ukraine.
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
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.
This press release contains "forward-looking information"
which may include, but is not limited to, statements with respect to
our operations. Such forward-looking statements reflect our current
views with respect to future events and are subject to certain risks,
uncertainties and assumptions. See our Annual Information Form for a
description of risks and uncertainties relevant to our business,
including our exploration and development activities. Test production
rates may vary from sustained production rates when developing a well
or a deposit. The commerciality of any discovery can be affected by
many factors including product prices, operating costs, capital costs,
government take and sustained production levels and ultimate recovery
of hydrocarbons. Hydrocarbon indications from drilling or wireline log
data do not necessarily mean that mobile hydrocarbons are present in
the formation or can be produced.
.
Copyright (c) 2013 TheNewswire - All rights reserved.
