EuroGas Files Official Request With Slovak Republic and European Commission to Accelerate Return of Germerska Poloma Talc Concession to Its Rozmin Affiliate Pursuant to Order by Supreme Court of Slovak

NEW YORK, NY–(EMWNews – August 21, 2008) – EuroGas, Inc. (PINKSHEETS: EMWNews.com/mw/http://www.EMWNews.com/mw/http://finance.yahoo.com/q?s=EUGS”>EUGS) (FRANKFURT: EUG) (XETRA: EMWNews.com/mw/http://finance.yahoo.com/q?s=EUG”>EUG) (HAMB: EMWNews.com/mw/http://finance.yahoo.com/q?s=EUG”>EUG) (STUTTGART: EUG) today announced that it has

officially requested an acceleration of the return of the Gemerska Poloma

talc mining concession to Rozmin s.r.o. by filing official requests with

the Government of the Slovak Republic and the European Commission. EuroGas

filed these requests on behalf of Rozmin, a company in which EuroGas owns

or has agreements to acquire a 90% interest.

Rozmin, as plaintiff, successfully filed suit in Slovakia against the

Slovak Mining Office at Spisska Nova Ves (“the Defendant”) to recover the

Germerska Poloma talc deposit. In its decision, the Supreme Court of the

Slovak Republic found that the Defendant and certain of its employees had

engaged in illegal activities and practices, as well as having violated

Rozmin’s constitutional and legal rights by illegally cancelling Rozmin’s

talc mining concession in January 2005 and subsequently transferring the

concession to Economia Agency/VSK Mining s.r.o.

In its non-appealable ruling, the Supreme Court of the Slovak Republic

found in favor of Rozmin and ordered the defendant to return the talc

mining concession to Rozmin. Despite this legally binding ruling, Rozmin

has yet to have its talc mining concession at Germerska Poloma reinstated,

in violation of the Supreme Court’s ruling.

Accordingly, EuroGas, on Rozmin’s behalf, has now officially requested the

Government of the Slovak Republic to probe the illegal activities of the

Mining Office in Spisska Nova Ves and certain of its employees as found by

the Supreme Court, as well as to immediately transfer title to the

concession back to Rozmin. EuroGas has also requested the European

Commission in Brussels, Belgium, to assist the Company in its efforts to

obtain the rapid return of the Rozmin mining concession as its legal

advisors believe that the Common Law of the European Union has also been

violated. The Slovak Republic is a full member of the European Union

and its Government has recently announced that it will introduce Europe’s

common currency, the Euro, as its currency on January 1, 2009.

Based on the findings of the non-appealable judgment of the Supreme Court

of the Slovak Republic, Rozmin is resolute in its belief that it will be

successful in securing the return of the talc mining concession at

Germerska Poloma.

Rozmin s.r.o. is a closely held Slovak mining company which controls the

massive Gemerska Poloma talc deposit with an estimated 150 million ton

carbonate reserve in Eastern Slovakia.The talc deposit Gemerska Poloma,

named after the village where it was discovered in Eastern Slovakia, is one

of the largest talc deposits worldwide. The carbonate type deposit and

resulting purity of the valuable mineral enhances the efficiency of the

benefication process and allows a higher purity to be attained in the final

project. EuroGas intends to bring the Germerska Poloma deposit into

commercial production.

About EuroGas, Inc.

EuroGas is a publicly traded oil and gas company with assets in Ukraine and

Poland, as well as talc mining interests in the Slovak Republic. The

company’s common stock trades on the Frankfurt and Hamburg Stock Exchanges

in Germany under the symbol EUG and on the Other OTC (Pink Sheets) in the

United States under the symbol EUGS.

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