Transeuro Energy extends term of C$2 million 15% series A debentures

By Devika Patel

Knoxville, Tenn., Oct. 28 - Transeuro Energy Corp. said it has extended the maturity date of a C$2 million 15% series A debenture to Nov. 1, 2010 from Nov.14, 2009. The related warrants also will expire on Nov. 1, 2010.

Other terms of the agreement include that the interest rate will be increased to 18% from 15%, effective Nov. 1. The debenture holders will release 2,642,860 Eaglewood shares to the company and the company will sell these shares for C$3.1 million.

Transeuro is an oil and natural gas company based in Vancouver, B.C.

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