EuroGas, Inc. (EUGS.PK)

EuroGas, Inc. is primarily engaged in the acquisition of rights to explore and exploit natural gas, coal bed methane gas, crude oil, talc and other minerals. EuroGas has acquired interests in several exploration concessions, and is in various stages of identifying industry partners, farming out exploration rights, undertaking exploration drilling and seeking to develop production. The Company's wholly owned subsidiaries are EuroGas (UK) Limited, Danube International Petroleum Company, EuroGas GmbH Austria, EuroGas Polska Sp. zo.o. and Energy Global A.G. EuroGas has activities in Slovakia, Poland, Kazakhstan and Canada.

For the six months ended 30 June 2006, EuroGas, Inc. reported $0 revenue. Net loss before accounting change applicable to Common increased 3% to $696K. Revenues reflect that the Company being still in exploration stage. Higher loss reflects the presence of litigation settlement expense, higher foreign exchange loss and an increase in interest expense. EUGS is engaged in the acquisition of rights to explore for and exploit natural gas.