Stock Quote:
TGL  $ 3.18  $ 0.12
TGA  $ 2.39  $ 0.08
BZQ18  $ 75.71  $ 2.66


TransGlobe Energy Corporation Announces Update on International Operations

CALGARY, ALBERTA--(CCNMatthews - Feb. 28, 2005) - TransGlobe Energy 
Corporation ("TransGlobe" or the "Company") (TSX:TGL) (AMEX:TGA) 
announces an operations update on Block S-1, Block 32 and Block 72 on in 
the Republic of Yemen and on the Nuqra Block in the Arab Republic of 

Block S-1, Yemen (25.0% working interest)

Malaki #1, which commenced drilling on January 18, 2005, has reached a 
total depth of 2,315 meters. The well is being plugged and abandoned 
after encountering minor hydrocarbon shows. The Lam 'A' sandstone 
reservoirs were encountered structurally lower than the oil/water 
contact in the An Nagyah field and were water saturated. The drilling 
rig is preparing to move to the next drilling location at An Nagyah #15. 
The An Nagyah #15 well is planned as an 800 meter horizontal well in the 
northwest area of the An Nagyah field, adjacent to An Nagyah #12.

The pipeline and facility construction for the An Nagyah field is on 
schedule with a planned start up in June 2005. The An Nagyah field 
production is anticipated to increase to over 10,000 Bopd (2,500 Bopd to 
TransGlobe) when the facilities and pipeline are operational.

A service rig is currently installing pumps on Harmel #1 and #2 in 
preparation for a long term test. A three to six month production test 
is planned to determine stabilised production rates which will determine 
if a full scale development of the Harmel field can proceed.

Block 32, Yemen (13.81% working interest)

The Tasour #16 well has been suspended after encountering 6.0 meters of 
oil pay overlying 3.0 meters of water bearing sandstone. The dip meter 
indicates a structurally higher location can be reached by sidetracking 
the well to the south of the current bottom hole location. The sidetrack 
drilling is planned after Tasour #17. The rig is currently drilling 
Tasour #17 to test a possible eastern extension of the Tasour field. The 
eastern extension was identified on the recent 3-D seismic survey and by 
the Tasour #15 water injection well. Tasour #15 was drilled as a water 
injector nearby the central production facility and found a 2.5 meter 
oil column, which indicates the Tasour field could extend eastward.

Block 72, Yemen (33% working interest)

The Block 72 Production Sharing Contract has been approved by the 
Cabinet and is currently before the Yemen Parliament for final approval. 
Following parliamentary approval the Block 72 partnership plans to 
acquire 3-D seismic to identify drilling locations. Drilling is 
anticipated to commence late in 2005 or early 2006.

Nuqra Block, Egypt (50% working interest)

TransGlobe has obtained the older seismic on the Nuqra Block and is 
currently reprocessing the data to improve the resolution. A new seismic 
acquisition program is anticipated to commence in the fourth quarter 
2005. A field geological survey is also underway to investigate surface 
outcrops and oil seeps in the Nuqra area. It is expected that a drilling 
program will commence in late 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, exploitation and exploration 
successes, continued availability of capital and financing, and general 
economic, market or business conditions.


s/s Ross Clarkson

Ross G. Clarkson President & CEO


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


TransGlobe Energy Corporation
Lloyd W. Herrick
Vice President & C.O.O.
(403) 264-9888
(403) 264-9898 (FAX)


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

View Print Version