Operations Update in YEMEN EAST- Masila Basin

Source: www.gulfoilandgas.com 5/7/2009, Location: Middle East

Block 32, Republic of Yemen (13.81% working interest)-Operations and Exploration
One development well was drilled during the quarter, resulting in an oil well at Tasour. With the fuel-gas project operational in late 2008, total diesel consumption on Block 32 has been reduced by approximately 50% during the first quarter.

The Block 32 diesel topping plant has sufficient capacity to meet the Block's reduced diesel requirements eliminating the need to purchase diesel. All the electricity for pumping and running the Central Production Facility was previously generated from diesel-fired generators, which cost in excess of $7.0 million (gross) in 2008.

Production
Production from Block 32 averaged 6,257 Bopd (864 Bopd to TransGlobe) during the quarter, representing a 5% increase from the previous quarter primarily due to the Tasour development well placed on production in January.

Production averaged approximately 6,430 Bopd (888 Bopd to TransGlobe) during April.

Block 72, Republic of Yemen (33% working interest)-Operations and Exploration
The Block 72 joint venture partnership entered the second 30-month exploration period in January which carries a commitment of one exploration well. Under the terms of the Block 72 Production Sharing Agreement ("PSA"), there was no acreage relinquishment at the end of the first exploration period.

Block 84, Republic of Yemen (33% working interest)-Operations and Exploration
The PSA for Block 84 was signed with the Ministry of Oil and Minerals ("MOM") on April 13, 2008. The PSA is awaiting final approval and ratification.

YEMEN WEST- Marib Basin-Block S-1, Republic of Yemen (25% working interest)
Operations and Exploration

The Operator has delayed development drilling planned for the An Nagyah field until the latter half of 2009. The drilling services are being re-tendered to capture the benefits expected from reduced demand for equipment in the upstream oil industry.

The operator of the Block S-1 joint venture group has continued discussions with MOM regarding a potential development project to produce and sell known deposits of gas at the An Naeem discovery on Block S-1.

A 3-D seismic program commenced in March 2009 to define additional exploration drilling locations on Block 75 and Block S-1.

Production
Production from Block S-1 averaged 10,240 Bopd (2,560 Bopd to TransGlobe) during the first quarter, representing a decrease of 4% over the prior quarter.

Approximately 600 Bopd (150 Bopd to TransGlobe) of production was curtailed during the quarter due to a gas injection compressor failure which was repaired in late April.

Production averaged approximately 9,644 Bopd (2,411 Bopd to TransGlobe) during April.


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