Eurogas International Inc. Announces 2017 Second Quarter Financial Results and Appointment of Acting Chief Executive Officer

TORONTO, ONTARIO--(Marketwired - Aug. 2, 2017) - Eurogas International Inc. ("Eurogas International" or the "Corporation") (CSE:EI)(CSE:EI.CN)(CNSX:EI) today announced its 2017 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.

The Corporation is also pleased to announce that, effective immediately, it has appointed Mr. Bruce Sherley, P.Eng., as Acting Chief Executive Officer of the Corporation.

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 the risks that the Corporation is unable to access sufficient capital from internal and external sources, volatility of commodity prices, currency fluctuations, risks associated with foreign operations, exploration, development and production risks, risks of not being able to obtain or renew permits and licenses, environmental risks, the impact of general economic conditions, reliance on key personnel and management, competition from other industry participants, and other risk factors discussed or referred to in other documents filed from time to time with the securities administrators, all of which may be accessed at www.sedar.com. 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 impact they might have on the Corporation. 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 Securities Exchange (www.cnsx.ca) 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.