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Release

TransGlobe Energy Corporation Announces Completion of Continuance and Adoption of New Share Option Plan

CALGARY, ALBERTA--(CCNMatthews - Jun 10, 2004) - TransGlobe 
Energy Corporation ("TransGlobe" or the "Company") is pleased to 
announce that it has today completed the continuance of the 
Company from the Province of British Columbia to the Province of 
Alberta. As well, the Company is pleased to announce that it has 
now adopted a new share option plan which was approved by 
disinterested shareholders of the Company, which permits the 
grant of options to acquire up to 10% of the issued and 
outstanding common shares of the Company at any give time.  

TransGlobe Energy Corporation, headquartered in Calgary, Alberta, 
is an international explorer and producer of oil and gas. The 
Company has oil and gas production in Canada and in two projects 
in the Republic of Yemen. TransGlobe expects to continue 
production growth both in Canada and Yemen through an aggressive 
drilling and development program for the balance of 2004 and 
2005. More information about TransGlobe and its projects can be 
found at www.trans-globe.com.  

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.  

-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

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