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Release

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") is 
pleased to announce a successful development well at Tasour #8 on 
Block 32 in the Republic of Yemen.  

Block 32, Yemen (13.81% working interest) 

The Tasour #8 well, which commenced drilling in December 2002, 
was drilled to total depth and cased as a dual zone oil well.  
The Tasour #8 well encountered the main Qishn S1A producing zone 
in a structurally high position previously defined by the Tasour 
#7 well.  Tasour #7 was drilled in September 2002 and extended 
the Tasour field to the south, in an area that was previously 
assumed to be below the oil water contact.  Similar to Tasour #7 
the Tasour #8 well also encountered oil in a second sandstone 
reservoir below the main producing Qishn S-1A reservoir. Tasour 
#8 was placed on production at an initial rate of 9,000 barrels 
of oil per day. Additional development drilling is planned for 
the Tasour field during 2003.  

The Tasour field is currently producing in excess of 15,000 Bopd 
(2,070 Bopd to TransGlobe).  Two wells are undergoing pump 
changes (Tasour #3 and #6) and are expected to be back on 
production by January 31.  Installation of additional pumping 
equipment is planned at the Tasour central production facility 
which will increase the Tasour field production capacity to about 
20,000 Bopd (2,760 Bopd to TransGlobe). With all six Tasour 
production wells on stream, Tasour would be capable of producing 
at this increased capacity by early February, 2003. 

The drilling rig is being moved to an exploratory prospect at 
Haibish #1 (formerly named Al Ghoraf) on the western portion of 
Block 32. Results from Haibish #1 are expected in approximately 
four weeks.  

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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