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Release

TransGlobe Energy Corporation Announces Successful Appraisal Well in Republic of Yemen

CALGARY, ALBERTA--TransGlobe Energy Corporation ("TransGlobe" or 
the "Company") (TSX symbol "TGL"; OTC-BB symbol "TGLEF") is 
pleased to announce the appraisal well at An Nagyah #4 on Block 
S-1 in the Republic of Yemen has tested light sweet oil from the 
Upper Lam formation.  

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

The An Nagyah #4 well was drilled to a total depth of 1,547 
meters and suspended as a potential oil well after flowing at a 
stabilized rate of 1,320 barrels of light (45 degree API) oil per 
day on a 48 hour test. 

The An Nagyah #4 well encountered the Upper Lam sandstones and 
found a thicker gross reservoir section (93 meters gross 
thickness). Better porosity and permeability are indicated on the 
open hole logs than found at An Nagyah #2. Log and pressure 
analysis indicate a 35 meter gas bearing interval and a 58 meter 
oil bearing interval are present. A 30 meter reservoir interval 
in the oil bearing section was perforated between 1,032 and 1,065 
meters. The perforated interval flow tested at 1,320 barrels of 
light oil and 0.8 million cubic feet of natural gas per day on a 
36/64 inch choke. No water was produced during the test period. 

The An Nagyah #4 well has proved the continuity and quality of 
the Upper Lam reservoir. An Nagyah #4 is located two kilometers 
west of the An Nagyah #2 well which tested light sweet oil at 
1,091 Bopd from a gross 28 meter oil reservoir (December 10, 2002 
announcement). The successful appraisal well at An Nagyah #4 is 
anticipated to lead to development of the field. 

The An Nagyah structural closure is mapped by 3-D seismic data 
and the four wells drilled on the structure to date. An estimate 
of reserves can be calculated for the pool now that the gas/oil 
and the oil/water contacts are defined by the wells. TransGlobe's 
management has mapped the Upper Lam oil pool over an area of 15 
square kilometers (6 square miles). An independent reservoir 
engineering firm has been contracted to determine proven and 
probable reserves. TransGlobe has also contracted an engineering 
firm with experience in Yemen oil development projects to prepare 
a facility design and preliminary cost estimate for the 
development of the An Nagyah field. The reserves estimates and 
development cost estimates will determine if sufficient reserves 
have been discovered to declare commerciality and proceed with 
development. 

The primary focus for 2003 will be the evaluation of the An 
Nagyah light oil discovery which could lead to the declaration of 
a commercial oil project prior to year end. The Lam reservoir 
encountered at An Nagyah is a new producing horizon in Yemen. Its 
discovery opens up a new exploration focus for Block S-1. In 
addition to the An Nagyah development evaluation, the current 
drilling program results are being integrated into the Company's 
extensive seismic database to define future exploration drilling 
prospects.  

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. 

TRANSGLOBE ENERGY CORPORATION 

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

-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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