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TransGlobe Energy Corporation Announces Update On Republic Of Yemen Operations

CALGARY, ALBERTA--TransGlobe Energy Corporation ("TransGlobe" or 
the "Company") (TSX symbol "TGL"; OTC-BB symbol "TGLEF") 
announces the results from the An Naeem #3 exploration well on 
Block S-1, in the Republic of Yemen.  

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

An Naeem #3, which commenced drilling on December 19, 2002, was 
drilled to a total depth of 1,623 meters.  The well was drilled 
structurally down dip from the An Naeem #1 and An Naeem #2 gas 
wells to test a potential oil rim. The An Naeem #3 well 
encountered the Alif sandstone and tested natural gas at a rate 
of 3.8 million cubic feet per day (MMcfd) and 12 barrels of 
condensate per day on a restricted choke from an 8 meter (26 
feet) perforated interval.  Although the well successfully tested 
hydrocarbons in the targeted Alif formation, an oil rim was not 
encountered. The well was temporarily abandoned and suspended as 
a potential gas condensate producer. The rig is currently moving 
to the next drilling location at An Nagyah #3.  The An Nagyah #3 
well is an appraisal of the oil discovery made at An Nagyah #2, 
announced December 10, 2002.  

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.
(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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