Eurogas International Inc. announced that, together with its joint venture partner, Atlas Petroleum Exploration Worldwide Ltd. ("APEX"), the Corporation has completed a farm-out agreement (the "Agreement") with DNO Tunisia AS ("DNO Tunisia") with respect to the Sfax Offshore Exploration Permit and the Ras El Besh Concession (together, the "Sfax Permit"), in the Republic of Tunisia.

DNO Tunisia is a wholly-owned subsidiary of DNO International ASA, an Oslo-listed, Middle East and Africa focused oil and gas company. Jaffar Khan, President and CEO of Eurogas International, commented, "Eurogas is very pleased to have established a farm-out arrangement with DNO Tunisia, an entity with the technical knowledge and financial means to effectively pursue the significant potential of the Sfax Permit."

Tags: Eurogas International Inc.