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Release

TransGlobe Energy Corporation Announces Update on Block 32 Republic Of Yemen and Canadian Operations

CALGARY, ALBERTA--TransGlobe Energy Corporation (TSE symbol "TGL";
OTC-BB symbol "TGLEF") announces increased oil and gas production 
rates resulting from drilling success in the Republic of Yemen and
Canadian projects.   

Block 32, Yemen (13.81% working interest) 

The current drilling program in the Tasour field was concluded on 
February 1st with completion of the Tasour #5 development well. 
The Tasour #5 well was equipped, tied into the Tasour Central 
Production facility and brought on production on February 14th. 
Tasour #5 started pumping at an initial rate of  7,060 Bopd, 
thereby increasing the Tasour total field rate to 12,500 Bopd  
(1,725 Bopd to TransGlobe). To date, the Tasour field has 
performed in line with the reservoir simulations for the field. 
Total field production prior to the addition of Tasour #5, which 
peaked at 8,300 Bopd in November 2000, has been limited by 
existing downhole pumping capacity. With the addition of Tasour 
#5, production from the Tasour field is expected to average 7,200 
Bopd (990 Bopd to TransGlobe) during 2001, which is consistent 
with the predicted natural declines for the field. The Block 32 
partnership plans to shoot 110 kilometres of 2-D seismic in the 
second quarter of 2001 and drill a minimum of one exploration well
and one Tasour field development well in the fourth quarter of 
2001. 

Canada 

TransGlobe's Canadian production has increased to a current rate 
of 1,300 Mcfd of gas and 70 Bpd of oil and liquids, as compared to
380 Mcfd and 42 Bpd one year ago. An additional 300-400 Mcfd of 
production is currently being tied in, with first production 
anticipated in early March. TransGlobe plans to participate in two
well re-entries and three recompletions prior to spring breakup. 
Following spring breakup TransGlobe will participate in drilling 
two additional wells, likely in the third quarter of 2001. All of 
the currently planned projects are targeting gas production which 
is either adjacent to, or within two miles of, existing pipelines 
to facilitate early production. 

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 & CEO 

-30-

TransGlobe Energy Corporation
Ross G. Clarkson, President & CEO
(403) 264-9888
(403) 264-9898 (FAX)

or

TransGlobe Energy Corporation
Lloyd Herrick, Vice President & COO
(403) 264-9888
E-mail: trglobe@trans-globe.com
Website: www.trans-globe.com

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