Stock Quote:
TGL  $ 1.55  $ 0.05
TGA  $ 1.26  $ 0.05
BZX17  $ 56.79  $ 0.36

South Alamein

In 2012, TransGlobe acquired through two separate corporate transactions a 100% working interest in the South Alamein Concession.

In 2012, TransGlobe acquired through two separate corporate transactions a 100% working interest in the South Alamein Concession.

The South Alamein Concession is located onshore in the Western Desert of Egypt and includes portions of the prolific Alamein and Tiba basins.  The area is covered by 3-D seismic, and has a discovery well drilled.  Following extensive discussions with the Military, the Ministry of Oil and EGPC, access was granted to the Concession on September 8, 2016.  The Company plans to test and evaluate the Boraq discovery in 2017.  A successful program could lead to filing a Boraq development plan as early as Q2 of 2017 with first production targeted prior to year-end 2017.  In parallel, the Company will evaluate the remaining exploration prospects on the concession, targeting an exploration-drilling program commencing in late 2017 into 2018. 

Concession Summary

South Alamein map