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Release

TransGlobe Energy Corporation Announces Update on Republic of Yemen and Canadian Operations

CALGARY, ALBERTA--TransGlobe Energy Corporation ("TransGlobe" or 
the "Company") (TSE symbol "TGL"; OTC-BB symbol "TGLEF") is 
pleased to announce a successful development well at Tasour #6 in 
the Republic of Yemen and the commencement of drilling in Canada. 

Block 32, Yemen (13.81% working interest) 

The Tasour #6 development well, which commenced drilling November 
10, 2001, has been completed and equipped as a producing oil well.
 The Tasour #6 well was equipped, tied into the Tasour Central 
Production Facility and brought on production December 10.  Tasour
#6 started pumping at an initial rate of  4,500 Bopd thereby 
increasing the Tasour total field rate to approximately  11,600 
Bopd (1,600 Bopd to TransGlobe). 

The drilling rig is currently being moved to an exploratory 
prospect at  Asswairy #1 on the northwestern portion of the Block.
 The Asswairy prospect is on trend with the non-owned discovery at
Sharyoof on the adjacent Block 53.  The Asswairy #1 test is 
targeting a pool with a potential recovery of 20 million barrels. 
It is expected that the Asswairy #1 well will commence drilling in
the next 7 to 10 days. 

Canada 

Drilling has commenced on TransGlobe's (100% working interest) 
multizone gas test at Cherhill, Alberta.  It is anticipated that 
the well will be drilled and cased prior to year end, with 
completion and testing scheduled for early in 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 

Lloyd W. Herrick, Vice President & C.0.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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