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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") announces
the results from the second well of its current 2002 Republic of 
Yemen drilling program.  

The Osaylan #1 exploration well on Block S-1 commenced drilling 
during September 2002. The well was drilled to a total depth of 
1,902 meters (6,242 feet) and was abandoned after encountering 
minor oil shows. The primary target, the Alif reservoir sandstone,
was encountered however the logs did not indicate commercial 
hydrocarbons were present. Evaluations of core analysis, fluid 
analysis and petrophysical interpretation will be carried out to 
determine if additional work on the Osaylan structure is 
warranted. 

The first well in the program, Tasour #7 on Block 32, is producing
in excess of 8,000 Bopd (1,105 Bopd to TransGlobe) out of two 
reservoir horizons. The next well, An Nagyah # 2 on Block S-1, 
will evaluate the An Nagyah structure previously drilled by Shell 
which had indicated pay. The An Nagyah prospect is a 3-D seismic 
defined structure with potential in both the Alif and Lam 
formations.  The Company's current drilling program anticipates 
five additional exploration, appraisal and development wells on 
two properties in the Republic of Yemen.  

TransGlobe Energy Corporation is a Canadian based exploration and 
production company with oil and gas projects in Canada and the 
Republic of Yemen. TransGlobe currently produces in excess of 
2,200 barrels of oil per day and 1.0 million cubic feet per day of
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. 

TRANSGLOBE ENERGY CORPORATION 

David C. Ferguson, Vice President & C.F.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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