TransGlobe Spuds on South Ghazalat - PETROLEUM AFRICA

Thursday, October 25, 2018

TransGlobe Energy spud its SGZ 6X well on the South Ghazalat concession in Egypt’s Western Desert. The well, the second exploration well in the concession, was spud on October 23.

The SGZ 6X is located on the eastern portion of the concession offsetting the Raml oil field in the Abu Gharadig basin. The SGZ 6X prospect is targeting stacked Cretaceous oil targets similar to the producing Raml and SW Raml fields.

On TransGlobe’s South Alamein concession, also in the Western Desert, the company received notification from the military that access will be granted to drill the South Alamein 24X (SA 24X) Jurassic exploration prospect. It has submitted the required documentation and is awaiting final written approval which is expected prior to year-end. Concurrently, the company initiated preparations to drill SA 24X as part of the 2019 exploration program.

TransGlobe Energy Corporation Announces Operations Update - TRANSGLOBE

CALGARY, Alberta, April 27, 2018 (GLOBE NEWSWIRE) 

TransGlobe Energy Corporation (TSX:TGL) (NASDAQ:TGA) (“TransGlobe” or the “Company”) announces an operations update for Egypt.

The Company has completed drilling the second South K-field development well at K-45 which was targeting the main Asl A sand in a crestal position in South K-field. The well was drilled to a total depth of 5,831 feet and encountered main Asl A sand approximately 66 feet structurally higher than the K-46 well and is structurally the highest well in South K-field Asl A & B pools. K-45 encountered an internally estimated 195 feet of net oil pay comprised of 120 feet of net oil pay in the Asl A pool (A1, A2 and A3), and 75 feet of net oil pay in the Asl B pool. The Company plans to initially complete the Asl B formation in K-45 and place the well on production in early May.

Following K-45, the drilling rig is scheduled to move to West Gharib and NW Gharib to drill Arta 54 and NWG 38A-3 respectively. Arta 54 is targeting the Nukhul/Red bed formation at the northern edge of the main Arta pool. The NWG 38A-3 well is planned as a water injection well to provide reservoir pressure support and enhanced recovery in the NWG 38 Red Bed pool. The first three wells drilled in the NWG 38 pool did not encounter a water leg and are currently producing at a combined, restricted rate of approximately 920 Bopd. It is expected that the current production rates will be optimized upon completion of the water injection scheme and stabilized reservoir pressures.

Following NWG 38A-3, the rig will return to the West Bakr concession and drill up to three development wells including two wells inside the recently negotiated reduced buffer zone targeting the M-field Asl A formation.

TransGlobe increases production from Egypt to 12.8k bpd - ENTERPRISE / TRANSGLOBE

Thursday, 21 December 2017

Canadian oil and gas producer TransGlobe said it produced 12.8 Mbopd from Egypt in 4Q2017. It is currently finalizing its 2018 work plan and budget that will be announced in January, according to its 4Q2017 operational update. TransGlobe announced it lifted and sold 510k bbl of crude in Egypt in late November for estimated net proceeds of approximately USD 24.5 mn (inclusive of realized hedging loss and marketing costs).

Corporate production is expected to average ~15.4 MBoepd for 2017 (12.8 Mbopd from Egypt and 2.6 MBoepd from Canada) representing an increase of ~3.3 MBoepd or 27% over 2016 production of 12.1 MBoepd. Corporate production in 2017 was 93% weighted to oil and liquids (7% weighted to natural gas in Canada) providing excellent torque to strengthening oil prices.

Second Quarter 2017 Financial and Operating Results - TRANSGLOBE ENERGY CORPORATION

Aug 14, 2017 - 02 00 ET 

CALGARY, Alberta, Aug. 14, 2017 (GLOBE NEWSWIRE) -- TransGlobe Energy Corporation (“TransGlobe” or the “Company”) (TSX:TGL) (NASDAQ:TGA) is pleased to announce its financial and operating results for the three and six months ended June 30, 2017. All dollar values are expressed in United States dollars unless otherwise stated. TransGlobe's Condensed Consolidated Interim Financial Statements together with the notes related thereto, as well as TransGlobe's Management's Discussion and Analysis for the three month periods ended June 30, 2017 and 2016, are available on TransGlobe's website. For the full release click here.

Nostra Terra acquires further 25% stake in East Ghazalat from Echo Energy - ENERGY EGYPT / NOSTRA TERRA

June 15, 2017

AIM-listed Nostra Terra Oil & Gas has reached agreement with Echo Energy to acquire Echo’s 50 percent stake in Independent Resources Egypt (‘IRE’). IRE owns a 50% non-operating interest in the East Ghazalat concession, Egypt through its subsidiary Sahara Resources GOS Inc (‘SRGOS’). The remaining 50% of the Concession is owned by North Petroleum International Company, which is the Operator.

TransGlobe Energy Corporation Announces Q1 2017 Operations Update - TRANSGLOBE ENERGY CORPORATION

April 10, 2017

TransGlobe Energy Corporation (Calgary, Alberta) announced an operational update. Below the Egypt related section. For the complete press release click the link below.

Total Company production averaged 16,841 Boepd in March, comprised of 14,152 Bopd in Egypt and 2,689 Boepd in Canada (57% light oil and liquids). Total Company production averaged approximately 16,672 Boepd in the first quarter, comprised of 13,941 Bopd in Egypt and 2,731 Boepd in Canada (57% light oil and liquids). This is an increase over the first quarter 2016 of approximately 38% including the Canadian acquisition or a 17% increase in Egyptian production.

TransGlobe Energy Corporation Announces an Operations Update

CALGARY, ALBERTA--(Marketwired - Feb. 21, 2017)

TransGlobe Energy Corporation ("TransGlobe" or the "Company") (TSX:TGL)(NASDAQ:TGA) announces an operational update. All dollar values are expressed in US dollars unless otherwise stated.

EASTERN DESERT - ARAB REPUBLIC OF EGYPT
North West Gharib, Arab Republic of Egypt (100% working interest, operated)

The Company is pleased to provide an update on the NWG exploration and development activities.

TransGlobe’s Egyptian assets to reach oil production targets - ECOFIN AGENCY

Friday, 23 December 2016 - 16:06
Anita Fatunji

(Ecofin Agency) - Canadian-based TransGlobe Energy in its update on Egyptian assets for the fourth and last quarter in 2016, announced that the North West Gharib (NWG) development plan for the NWG 3, NWG 16 and NWG 38 area was approved in early December.

The company said it completed the NWG 3 Early Production Facility (EPF) in mid-December and targets first production from NWG 3 at an estimated preliminary rate of 500 to 700bpd while the adjacent NWG 38 discovery well’s pipeline has been connected to the EPF and is expected to begin production before 2016 year-end.

Oil Ministry makes USD 100 mn payment to smaller IOC - ENTERPRISE

Sunday, 18 December 2016

The Oil Ministry made a USD 100 mn payment to IOCs for overdue receivables, Al Mal reported. The payment was not made to major operators, but to smaller companies, including Circle Oil, TransGlobe Energy, and SDX, a source said. The source noted specifically that Circle Oil got 30% of its total receivables with a payment of USD 12-15 mn. Major players BP, Shell, Eni, and Apache are due a payment soon, the source added. EGPC said it will begin making monthly payments to the IOCs starting from 2017.

Egyptian Military gives TransGlobe green light on South Alamein - ENERGY EGYPT / PETROLEUM AFRICA

September 17, 2016

TransGlobe Energy has finally received the approvals needed to proceed with its exploration program on its South Alamein Concession in Egypt. The company had been waiting to receive military access approvals in order to move forward on its program.

The approvals are the result of significant efforts on the part of the Minister of Petroleum, EGPC and TransGlobe personnel.

The concession, acquired in July 2012, contains the Boraq 2X discovery and several additional exploration targets. The concession had been placed in suspense due to military access restrictions and has approximately 20 months remaining on the final exploration phase. The company will begin making preparations to appraise and develop the Boraq 2x discovery and expects that initial drilling may be possible before the end of 2016.

Fall of oil price pushes EGPC to halt tender for new exploration | ENERGY EGYPT

JANUARY 10, 2016 

The price of Brent on international markets recorded $34.4 on Wednesday and reached a maximum of $45 in November.

The Egyptian General Petroleum Corporation (EGPC) postponed offering new exploration tenders for oil and gas for foreign companies in ten areas until prices of Brent oil stabilise in international markets, instead of offering tenders early in 2016.

Security approvals related to these areas have been finalisaed, CEO of EGPC Mohamed El-Masry said. He said however that the continuous decline in Brent’s prices is not encouraging companies to apply for exploration for crude oil.