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TransGlobe Energy Corporation Announces Update on North American and Yemen Activities

CALGARY, ALBERTA--TransGlobe Energy Corporation (TSE symbol "TGL";
OTC-BB symbol "TGLEF") announces a successful gas well in Canada, 
the sale of U.S. assets and activities on Block 32 Yemen.   


TransGlobe has drilled a multi-zone gas discovery on its Elk 
Island prospect in central Alberta. The Company has drill stem 
tested gas from four separate zones.  The well will be completed 
and tied in to a nearby gas gathering system prior to year end.  
Production rates are expected to be in excess of 1.0 Mmcfd.  
TransGlobe has a 50% working interest in the discovery.  The 
Company plans to drill one additional gas prospect in Central 
Alberta during the 4th quarter 2000. 


TransGlobe Oil and Gas Corporation, a 100% subsidiary of 
TransGlobe Energy Corporation has sold all of its U.S. production 
for gross proceeds of US$600,000, to be effective November 1, 
2000.  The production sold totaled 50 Boed to the Company.  The 
funds will be reinvested in the higher impact focus areas in Yemen
and Canada. 


The Tasour 'D' exploration well reached total depth on October 
23rd.  The well was plugged and abandoned as no hydrocarbons were 
encountered. The well tested an exploration structure, which is 
separate from the main Tasour field currently being developed.  
The Tasour field development is proceeding on schedule with 
initial production expected to commence in the next week.  

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. 

On Behalf of the Board of Directors of  


Ross G. Clarkson, President & CEO 


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


TransGlobe Energy Corporation
Lloyd Herrick, Vice President & COO
(403) 264-9888
(403) 264-9898 (FAX)

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