Transglobe Provides an Update for Q4 2011

Source: www.gulfoilandgas.com 12/19/2011, Location: Middle East

TransGlobe Energy Corporation is pleased to provide a mid-quarter production and operations update for the fourth quarter of 2011 and 2012 Forecasts on block 32 and block S-1 in Yemen.

Block 32, Republic of Yemen (13.81% working interest)
Production
Production from Block 32 averaged 2,935 Bopd (405 Bopd to TransGlobe) in October and 2,783 Bopd (384 Bopd to TransGlobe) in November. December production has averaged approximately 3,174 Bopd (438 Bopd to TransGlobe) to date. The export pipeline system to the Indian Ocean has not been impacted by recent political unrest in Yemen.

Block S-1, Republic of Yemen (25% working interest)
Production
Production averaged approximately 1,680 Bopd (420 Bopd to TransGlobe) during October which was impacted by the shut-in of the export pipeline on October 8. The oil export pipeline from Marib to the Ras Eisa port on the Red Sea remains shut-in. Production from TransGlobe's An Nagyah field on Block S-1 is shut-in until repairs to the export pipeline can be completed. The pipeline has been the target of a number of attacks since production resumed in mid-July (ending a four month shut-in period) and was typically repaired within 24 to 48 hours, which did not impact production. The most recent attacks on the pipeline have not been repaired due to local tribal groups preventing access to the pipeline. TransGlobe's working interest share of production was approximately 2,250 Bopd prior to being shut-in on October 8.




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