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TransGlobe Energy Corporation Reports Continued Success in Canadian Gas

CALGARY, ALBERTA--TransGlobe Energy Corporation announced today 
an update on its 2003 Canadian exploration program. 

The 2003 Canadian exploration drilling program achieved 100% 
success resulting in six natural gas wells and two oil wells. 
TransGlobe is currently re-entering a recently acquired well 
(tested by the previous operator at 600 Mcfd) to bring the total 
wells for the year to nine (7.75 net wells). All the wells are 
operated by TransGlobe and located in the Nevis, Twining and 
Morningside areas of Central Alberta. 

Ross Clarkson, President & CEO of the Company said, "TransGlobe 
will continue to expand our gas exploration program in Canada to 
balance our successful oil developments in Yemen. The very strong 
North American natural gas market fundamentals, combined with our 
exploration drilling success, affords us excellent growth 

It is expected that Canadian production will reach 1,200 Boepd 
(6.0 MMcfd plus 200 Bpd of oil and liquids) when all the wells 
from the 2003 drilling program have been placed on production. 
This represents a 440% increase over the first nine months of 
2003 production of 223 Boepd for Canada. TransGlobe expects to 
have 750 Boepd on production at year end and will be working to 
tie in the balance of the wells by the end of Q-1 2004. 

To date in 2003, TransGlobe has acquired mineral rights on 12,000 
net acres and farmed-in on an additional 5,600 (2,900 net) acres. 
The Company plans to acquire additional mineral rights and is 
negotiating several farm-in proposals. The majority of the land 
is located in Central Alberta on three main prospects, of which 
two are new focus areas. It is expected three to four wells could 
be drilled during Q-1 of 2004. The 2004 Canadian drilling program 
plans up to ten additional wells for Q-3 and Q-4 of 2004. All the 
prospects are focused towards natural gas. 

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. 



"signed Lloyd W. Herrick"

Lloyd W Herrick,
Vice President & C.O.O.

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



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)

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