Eurogas International Inc. Announces 2013 Second Quarter Results

Eurogas International Inc. ("Eurogas International" or the "Corporation")
(CNSX:EI) today reported its 2013 second quarter financial results. The
Corporation's unaudited condensed interim financial statements, along with the
accompanying management's discussion and analysis have been filed on the System
for Electronic Document Analysis and Retrieval ("SEDAR") and may be viewed by
interested parties under the Corporation's profile at www.sedar.com or the
Corporation's website at www.eurogasinternational.com.


FINANCIAL RESULTS

During the second quarter of 2013, the Corporation incurred a net loss of $0.6
million, or a loss of approximately $0.02 per share. This compares with a net
loss of $0.5 million, or a loss of $0.02 per share incurred in the second
quarter of the prior year.


The quarter-over-quarter increase in the net loss was due primarily to higher
borrowing costs, driven by an increase in average borrowing levels throughout
the period, compared with borrowing levels incurred in the second quarter of the
prior year. In addition, during the second quarter of 2013, the Corporation
increased its provision for site and restoration costs to include costs for the
removal of an ocean-floor template previously assembled to accommodate
exploration activities relating to the Ras El Besh development concession within
the boundaries of the Sfax Permit. The removal of the ocean-floor template was
completed in early July.


On a year-to-date basis, the Corporation has incurred a net loss of $1.1 million
or $0.03 per share. The net loss during the first half of 2013 is consistent
with a net loss of $1.1 million or $0.03 per share incurred in the first half of
the prior year.


FORWARD-LOOKING STATEMENTS 

Certain information set forth in this document, including management's
assessment of the Corporation's future plans and operations, contains
forward-looking statements. Forward-looking statements are statements that are
predictive in nature, depend upon or refer to future events or conditions or
include words such as "expects", "anticipates", "intends", "plans", "believes",
"estimates" or similar expressions. By their nature, forward-looking statements
are subject to numerous risks and uncertainties, some of which are beyond the
Corporation's control, including risks of not being able to obtain or renew
permits and licenses, the inability to access sufficient capital from internal
and external sources, risks associated with foreign operations, the impact of
general economic conditions, currency fluctuations, exploration and development
risks, reliance on key personnel and management, risks relating to the
abandonment of operations, environmental risks, and competition from other
industry participants. Readers are cautioned that the assumptions used in the
preparation of such information, although considered reasonable at the time of
preparation, may prove to be imprecise and, as such, undue reliance should not
be placed on forward-looking statements. The Corporation's actual results,
performance or achievement could differ materially from those expressed in, or
implied by, these forward-looking statements and, accordingly, no assurance can
be given that any of the events anticipated by the forward-looking statements
will transpire or occur, or if any of them do so, what benefits the Corporation
will derive from them. The Corporation disclaims any intention or obligation to
update or revise any forward-looking statements, whether as a result of new
information, future events or otherwise, except as required by law. 


ABOUT EUROGAS INTERNATIONAL 

Eurogas International Inc. is an independent oil and gas exploration company
listed on the Canadian National Stock Exchange under the symbol EI. 


All documentation in respect of the Corporation may be viewed under the
Corporation's profile on SEDAR (www.sedar.com) or under the Corporation's
website at www.eurogasinternational.com. For more information about Eurogas
International, please visit the Listings Disclosure Hall at www.cnsx.ca.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Eurogas International Inc.
c/o Dundee Corporation
21st Floor
1 Adelaide Street East
Toronto, ON M5C 2V9


Eurogas International Inc.
Jaffar Khan
President & CEO
(403) 264-4985
(403) 262-8299 (FAX)
www.eurogasinternational.com
Eurogas (CSE:EI)
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