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Release

TransGlobe Energy Corporation Announces Horizontal Well Results in Republic of Yemen

CALGARY, ALBERTA--(CCNMatthews - Nov. 29, 2004) - TransGlobe Energy 
Corporation (TSX:TGL) (AMEX:TGA) ("TransGlobe" or the "Company") is 
pleased to announce another successful development well on Block S-1 in 
the Republic of Yemen.

BLOCK S-1, REPUBLIC OF YEMEN (25% working interest)

Successful horizontal appraisal well at An Nagyah #12:

The An Nagyah #12 well was drilled to a total depth of 2,070 meters and 
suspended as an Upper Lam oil well. The An Nagyah #12 well was tested 
from an 836 meter horizontal Upper Lam sandstone section at a rate of 
4,801 barrels of light (43 degree API) oil per day and 2.6 million cubic 
feet of natural gas per day on a 64/64 inch choke at 389 psi flowing 
pressure. This is the second horizontal well drilled in the An Nagyah 
field.

Ross Clarkson, TransGlobe's President and Chief Executive Officer said, 
"The An Nagyah #11 and #12 horizontal wells have exceeded our 
expectations and have demonstrated that horizontal drilling unlocks the 
potential of the Lam reservoir. The planned facility has expansion 
capability to handle the additional production resulting from the 
horizontal drilling program. The facility expansion will probably be 
required as there are several more development wells left to be drilled."

The An Nagyah #12 well is being equipped for early production via 
trucking. The drilling rig will be moving to An Nagyah #14 located 
approximately two kilometers south of An Nagyah #11. An Nagyah #13, an 
infill development location, is being deferred to a later date in favor 
of exploration drilling. An Nagyah #14 is an exploration well that will 
test for a possible field extension across the main south bounding fault 
of the An Nagyah field. An Nagyah #14 will be followed by another 
exploration well (Malaki #1) on a separate structure located nine 
kilometers southwest of the An Nagyah field. Additional development 
wells on An Nagyah and several exploration wells are planned for the 
2005 drilling program.

In addition to the current drilling activities, a workover rig is on 
location to workover the An Nagyah #2 well and to complete the Harmel #2 
appraisal well. The An Nagyah #2 well was the discovery well for the Lam 
oil reservoir and has been shut-in since testing was completed. Initial 
testing of An Nagyah #2 included tests in both the oil reservoir as well 
as the gas cap. The objective of the workover will be to seal off the 
gas cap perforations and complete the well as a producing oil well.

After An Nagyah #2 operations are complete, the workover rig will be 
moved to the Harmel #2 appraisal well to begin the completion 
operations. Harmel #2 was drilled in June 2004 to appraise the shallow 
oil reservoirs found in the discovery well, Harmel #1. The cores from 
Harmel #2 have been analyzed, and current plans encompass stimulating 
the supra-salt reservoirs and placing both Harmel wells on production. 
Production and test data obtained from the Harmel #1 and #2 wells will 
help to determine the commerciality of the medium gravity oil (22 degree 
API). The Harmel structure could require 80 to 90 shallow wells (700 to 
800 meters in depth) to be fully developed.

An Nagyah Production update:

The An Nagyah #12 well has increased the total productive capacity of 
the An Nagyah field to approximately 12,000 Bopd (3,000 Bopd to 
TransGlobe). The current trucking capacity is approximately 5,000 Bopd 
(1,250 Bopd to TransGlobe); however it is expected that trucking can be 
increased to 6,000+ Bopd prior to year end with the installation of 
additional tanks and facilities. The oil production is being trucked 18 
miles to the Jannah Hunt facility where it enters the Hunt pipeline 
system to the Red Sea.

Trucking operations will be phased out following the construction of a 
central production facility ("CPF") at An Nagyah and a 28 kilometer (18 
mile) pipeline to the Jannah Hunt export pipeline. The pipeline and 
facilities are expected to be operational by mid 2005. The 10 inch 
pipeline is designed to allow an ultimate capacity of 80,000 Bopd so 
that future discoveries can be placed on stream quickly. The CPF is 
designed for an initial capacity of 10,000 to 12,000 Bopd (2,500 to 
3,000 Bopd to TransGlobe), with expansion capabilities.

TransGlobe is a growth oriented international exploration and production 
company with its corporate office in Calgary, Alberta, Canada. 
TransGlobe has achieved a production growth rate of 38% per year over 
the past three years and expects to produce an average of 3,600 Boepd 
during 2004. It is anticipated that production will average 5,500 Boepd 
in 2005 representing a 52% increase over 2004. TransGlobe is well 
positioned for continued growth with interests in three production 
sharing agreements in the Republic of Yemen (two producing, one 
exploration), one exploration concession in the Arab Republic of Egypt 
and producing oil and gas properties in Alberta, Canada.

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.

/T/

TRANSGLOBE ENERGY CORPORATION

s/s Ross Clarkson

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

/T/

-30-

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

TransGlobe Energy Corporation
Executive Offices:
#2900, 330 -5th Avenue, S.W.
Calgary, AB T2P 0L4

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