Transglobe Energy Corporation Announces Successful Appraisal Well In Republic Of Yemen

Source: www.gulfoilandgas.com 7/14/2004, Location: Middle East

Calgary, Alberta, Wednesday, July 14, 2004 -TransGlobe Energy Corporation ("TransGlobe" or the "Company") is pleased to announce another successful development well on Block S-1 in theRepublic of Yemen.

BLOCK S-1, REPUBLIC OF YEMEN (25% WORKING INTEREST)

Successful Appraisal at An Nagyah #8: The An Nagyah #8 well was drilled to a total depth of 1,209meters and suspended as a potential oil well after flowing at a stabilised rate of 607 barrels of light (43 degree API) oil per day. The An Nagyah #8 well encountered the Upper Lam sandstones with a 13 meter oil bearing interval. A 10.5meter reservoir interval in the oil bearing section was perforated between 1,019.5 and 1,030 meters.

The An Nagyah #8 well has defined the eastern limit of the An Nagyah structure. An Nagyah #8is located 2.3 kilometers east of the An Nagyah #6 well which tested light sweet oil at 1,140Bopd from a 29 meter perforated interval (April 28, 2004 announcement). The well is being equipped for early production via trucking. The drilling rig is currently moving to An Nagyah #9which is located between the An Nagyah #4 and An Nagyah #6 wells.

An Nagyah Production Update:
The early production facilities at the An Nagyah field were installed during the first quarter and field production operations were initiated on March 30, 2004. The average production during June 2004 was 3,288 Bopd (821 Bopd to TransGlobe) with the addition of An Nagyah #7 in mid June. The An Nagyah #7 well was drilled to define the western limit of the An Nagyah structure (May 26, 2004 announcement) and has stabilized at approximately 360 Bopd since being placed on production. The oil production is currently being trucked 18 miles to the Jannah Hunt facility where it enters the Hunt pipeline system to the Red Sea.

The trucking operations will be phased out following the construction of a central production facility ("CPF") at An Nagyah and a 28 kilometer (18 mile) pipeline to the Jannah Hunt export pipeline. The pipeline and facilities are expected to be operational by early 2005. The 10 inch pipeline is designed to allow an ultimate capacity of 80,000 Bopd so that future discoveries canbe placed on stream quickly. The CPF is designed for an initial capacity of 10,000 Bopd (2,500 Bopd to TransGlobe), with expansion capabilities. Additional development wells in the An Nagyah pool are expected to be drilled in the third and fourth quarters of 2004 and into 2005. Continued

TransGlobe is an international exploration and production company with its corporate office in Calgary, Alberta. In addition to its 25% interest in Block S-1, the Company holds a 33% working interest in Block 72 and a 13.81% working interest in Block 32 in the Republic of Yemen. Block 72 is a new exploration area for TransGlobe where exploration operations are expected to commence in 2005. The Tasour field in Block 32 was developed and placed on production in 2000 and is currently producing in excess of 20,000 Bopd (approximately 2,750 Bopd to TransGlobe), having produced in excess of 17 millions barrels to date. TransGlobe also has producing oil and gas properties in Alberta, Canada.




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