Eurasia Energy Limited: Company Closes $750,000 Private Placement Financing.

ABERDEENSHIRE, Scotland -- Eurasia Energy Limited (the "Company") (OTCBB:EUEN) announces that it has closed a US$750,000 private placement financing. The Company will issue 250,000 units at US$3.00 per unit. Each unit consists of one common share and one warrant to acquire one additional common share of the Company at a price of US$4.00 per share until February 15, 2007. The private placement was done in reliance on the exemption provided under Regulation S.

E[acute accent]Partial proceeds from this financing will be employed to complete the rehabilitation, development and exploration plan for the Company's 600 square kilometer oil and gas block (the "Block") in the Republic of Azerbaijan. The balance of the proceeds will be used for working capital and will finance the Company's operations for the next 12-18 months. The Company's rehabilitation, development and exploration plan will form the basis of the terms of a future exploration, rehabilitation, development and production sharing agreement ("ERDPSA") between the Company and the State Oil Company of the Azerbaijan Republic ("SOCAR"). The Company's technical team is currently working with SOCAR to identify, assemble, digitize and evaluate existing production exploration data on the Block. It is expected that the Company's petroleum engineering consultants, TRACS International Consultancy Ltd., will begin their assessment of this data by mid March, 2006.

E[acute accent]The Company is party to a memorandum of understanding ("MOU") with SOCAR which grants the Company the exclusive right to negotiate an ERDPSA for a 600 square kilometer oil and gas block in the Republic of Azerbaijan. The Block is located in the shallow coastal waters of the Azerbaijan sector of the Caspian Sea approximately 70 kilometers south of the Azerbaijan capital of Baku.

E[acute accent]The Block includes the producing Alat-Deniz oil and gas field and a string of seven prospective exploration structures (Hamamdag-Deniz, Garasu, Sangi-Mugan, Ulfat, Aran-Deniz, Dashly and Sabayil) trending in a south-easterly direction from the coast to seventy kilometers offshore. Water depths are predominantly up to twenty meters and reach a maximum of fifty meters at the far end of the Block. The Alat-Deniz field was discovered in 1983 and to date has produced approximately 12.5 million barrels of oil and 1 billion cubic meters of gas. SOCAR estimates recent production to be approximately 750 barrels of oil and 100,000 cubic meters of gas per day from 14 wells, and remaining recoverable reserves from the Alat-Deniz field of 15 million barrels of oil and 1 billion cubic meters of gas. The main producing horizon is at 3,700-4,500 meters depth. Available data includes low density Soviet-era seismic over the entire Block and well data from the Alat-Deniz field and several other structures. In addition there is modern seismic and well data in onshore and offshore areas proximal to the Block that may be used for interpolation.

E[acute accent]Notable offshore projects in Azerbaijan include the Azeri-Chirag-Guneshli field estimated to hold reserves in excess of 5 billion barrels of oil, and the Shah Deniz field estimated to contain more than 400 billion cubic metres of gas. Both fields are being developed by consortia headed by BP and include other major international companies including SOCAR, Exxon, Unocal, Devon Energy, Amerada Hess, TPAO, Statoil, Lukoil and Itochu. Oil and gas will be delivered to world markets by the Baku-Tbilisi-Ceyhan (BTC) export oil pipeline to the port of Ceyhan on Turkey's Mediterranean coast, and the South Caucasus Gas Pipeline (SCP) to Turkey. In total 17 projects are at various stages of development onshore and offshore Azerbaijan, involving 27 foreign companies from 13 countries.

E[acute accent]The Company also announces that effective February 15, 2006, Ms. Velda King has resigned from the Company's board of directors. Ms. King leaves the board of directors in order to devote more time to her other business interests. Mr. Nicholas Baxter and Mr. Gerald Tuskey remain as the current directors of the Company. Ms. King's departure has been reported on Form 8K.

E[acute accent]BY ORDER OF THE BOARD

E[acute accent]Nicholas W. Baxter, President, C.E.O. and Director

E[acute accent]Forward-Looking Statements: This news release may include certain forward-looking statements including, but not limited to, projections of revenue, income or loss and capital expenditures, statements regarding future operations, financing needs, plans relating to products or services of the Company, assessments of materiality, predictions of future events and the effects of pending and possible litigation, as well as assumptions relating to the foregoing. In addition, when used in this discussion, the words "anticipates", "believes", "estimates", "expects", "intends", "plans", "should", and variations thereof and similar expressions are intended to identify forward-looking statements. Such forward-looking statements are subject to various risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors, including but not limited to the Company's ability to manage rapid growth as a result of internal expansion and strategic acquisitions, the impact of competitive products and pricing, product demand and market acceptance, new product development, reliance on key strategic alliances, the regulatory environment, fluctuations in operating results and other risks.

E[acute accent]"Safe Harbor" statement under the Private Securities Litigation Reform Act of 1995: This release contains forward-looking statements that are subject to risks and uncertainties, including, but not limited to, the impact of competitive products and pricing, product demand and market acceptance, new product development, reliance on key strategic alliances, availability of raw materials, the regulatory environment, fluctuations in operating results and other risks detailed from time to time in the company's filings with the Securities and Exchange Commission.

E[acute accent]Eurasia Energy Limited (OTC Bulletin Board:EUEN)