Questerre Energy Corporation

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27th April 2011	TSX-V/Oslo Axess: TSU

Vancouver, Canada: - Transeuro Energy Corp. 
("Transeuro" or the "Company") is pleased to announce 
the Company has executed a Share Purchase Agreement 
(SPA) with Questerre Energy Corporation ("Questerre") 
pursuant to the Letter of Intent as previously 
announced on Sept 9th 2010 as follows:

1)	Transeuro will acquire the remaining 50% 
interest in the Beaver River field in British 
Columbia through the acquisition of all the 
outstanding shares of Questerre Beaver River Inc, a 
wholly owned subsidiary of Questerre. At closing 
Transeuro will own 100% of the Beaver River field 
including the 2 producing wells, the production 
equipment, gathering system and all associated 
infrastructure.

2)	Pursuant to the acquisition, the $5.15 
million debt payable by Transeuro to Questerre Beaver 
River Inc. will be eliminated on consolidation. Upon 
closing, there will be no amounts due to Questerre by 
Transeuro.

3)	Transeuro will issue to Questerre forty (40) 
million shares (8.7%) in Transeuro

Closing is subject to receipt of all requisite 
approvals and conditions precedent. 

The Chairman, Aage Thoen commented;

"The acquisition furthers our strategy to pursue 
large assets and has the potential to add short term 
production from the existing wells and infrastructure 
in place. Canada represents a secure, low risk 
venture for Transeuro in a proven hydrocarbon basin. 
With the large discount between gas and oil pricing 
we believe gas assets are currently undervalued and 
that North American gas prices and asset valuations 
will recover over the next one to two years."

"Further through this transaction, the removal of the 
operating debts of CDN$5.15 million eliminates 75% of 
the Companies current liabilities as of December 31st 
2010 and creates a strong, stable balance sheet to 
support future activities and expansion." 

The Beaver River field:

·	consists of 35 sections in the Liard Basin in 
North East British Columbia, adjacent to the Horn 
River Basin that has attracted considerably interest 
from major oil companies for the discovered shale gas 
assets. Interest in the Liard Basin has increased 
with recent land sales close to the Beaver River by 
some of the companies active in the Horn River area. 

·	has ongoing production of around 700 thousand 
cubic feet per day (mcf/d) from 2 shallow wells, 
flowing into the Spectra Energy's pipeline that 
transits through the field.

·	The field was discovered in 1961 by Amoco who 
targeted the deeper conventional carbonate reservoir, 
the 'Nahanni', from 3500 metres, where a 700 metre 
gas column was discovered. Amoco estimated 
recoverable reserves in the Nahanni of 1.47 trillion 
cubic feet (Tcf), but abandoned the Nahanni in the 
1970's after only producing 179 billion cubic feet 
(Bcf), 11% of expected production.

·	Amoco also produced 6.6 Bcf from within the 
overlying 2500 metres of gross shale intervals using 
conventional operating methods from the vertical 
wells.

·	has a number of old production wells drilled 
into the Nahanni that present opportunities to 
increase production and to appraise the shale 
potential in a cost effective manner and without the 
need to drill new wells from surface. 

·	Despite the current production the field has 
no reserves assigned at this time as at current gas 
prices, operating costs exceed revenues. However in 
2007 Netherland Sewell Associates (NSA, 
http://www.netherlandsewell.com) conducted a 
preliminary review of the field data to assess the 
shale gas and conventional gas potential of the upper 
intervals. The report indicated potential for 
Original Gas In Place (OGIP) figures of 425-750 Bcf 
per section for 1000 metre thickness. It is this 
potential across the 35 license sections that will be 
investigated with additional operations and 
production.  

The President & CEO, David Worrall commented; "The 
historical production at Beaver River demonstrates 
commercial production can be achieved at various 
depths from 1000 to 4000 metres and the NSA analysis 
indicates the potential for very significant gas in 
place. While we have some production and data, more 
appraisal work is required to unlock this potential 
and to turn the indicative numbers into resources and 
then to reserves. With the pipeline on the lease we 
aim to achieve commercial production as we work 
through the appraisal programme. The British Columbia 
Oil and Gas Commission has recently issued strong 
statements supporting the gas industry in British 
Columbia, in particular for shale gas and the 
operating technique of large 
hydraulic fracs, so we do not expect the same 
environmental hurdles that exist in other areas of 
North America."

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's properties are located 
in Canada, Armenia, and Ukraine.  In addition, the 
Company holds a back-in option to Eaglewood Energy 
Inc.'s exploration licenses in Papua New Guinea.

On behalf of the Board of Directors
Aage Thoen, Chairman 

For further information contact: 		Chris 
McGillivray, IR, +1 604 728 0040
David Parry, SVP, +1 604 681 3939
					Karen 
Jenssen, IR, +47 91729787
				
	http://www.transeuroenergy.com

Neither TSX Venture Exchange nor its Regulation 
Services Provider (as that term is defined in the 
policies of the TSX Venture Exchange) nor the Oslo 
Bors accepts responsibility for the adequacy or 
accuracy of this release. When used herein, the 
term "boe" means barrels of oil equivalent on the 
basis of one boe being equal to one barrel of oil or 
NGLs or 6,000 cubic feet of natural gas (6 mcf: 1 
bbl). Barrels of oil equivalent may be misleading, 
particularly if used in isolation. A conversion ratio 
of six mcf of natural gas to one boe is based on an 
energy equivalency conversion method primarily 
applicable at the burner tip and does not represent a 
value equivalency at the wellhead.   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.