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Release

TransGlobe Energy Corporation Announces Well Results at Al Qurain, Block S-1

CALGARY, ALBERTA--(CCNMatthews - Dec. 18, 2006) - TransGlobe Energy Corporation ("TransGlobe" or the "Company") (TSX:TGL) (AMEX:TGA) announces well results at Al Qurain #1.

Block S-1, Republic of Yemen (25% working interest)

The Al Qurain #1 exploration well was drilled to a total measured depth of 1,960 meters and subsequently plugged and abandoned. The Al Qurain #1 well was targeting Alif and Lam prospects.

The drilling rig is currently moving to a location at An Nagyah #23, to drill a lower Lam B horizontal development well in the western portion of the pool. Following An Nagyah #23, the rig is tentatively scheduled to move to Osaylan #1, to re-enter and test the Lam formation. Osaylan #1 is located 1.2 kilometers east of Osaylan #2 which tested 1,309 Bopd from the Lam formation (press release November 17, 2006).

This release includes certain statements that may be deemed to be "forward-looking statements" within the meaning of the US Private Securities Litigation Reform Act of 1995. All statements in this release, other than statements of historical facts that address future production, reserve potential, exploration drilling, exploitation activities and events or developments that the Company expects, are forward-looking statements. Although TransGlobe believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include oil and gas prices, well production performance, exploitation and exploration successes, continued availability of capital and financing, and general economic, market or business conditions.

TRANSGLOBE ENERGY CORPORATION

Ross G. Clarkson, President & C.E.O.

TransGlobe Energy Corporation
Ross G. Clarkson
President & C.E.O.
(403) 264-9888
(403) 264-9898 (FAX)

or

TransGlobe Energy Corporation
Lloyd W. Herrick
Vice President & C.O.O.
(403) 264-9888
(403) 264-9898 (FAX)
Email: trglobe@trans-globe.com
Website: www.trans-globe.com

or

Executive Offices
#2500, 605 - 5th Avenue, S.W.,
Calgary, AB T2P 3H5

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