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This Announcement contains inside information as defined in Article 7 of the Market Abuse Regulation No. 596/2014 (“MAR”). Upon the publication of this Announcement, this inside information is now considered to be in the public domain. CALGARY, Alberta, Dec. 17, 2018 (GLOBE NEWSWIRE) — TransGlobe Energy Corporation (AIM & TSX: “TGL” & NASDAQ: “TGA”) (“TransGlobe” or the “Company”) announces an interim fourth quarter update. All dollar values are expressed in US dollars unless otherwise stated. UPDATES Increasing Q4 production: October ~14.6 MBoepd, November ~14.8 MBoepd and December (to date) ~16.3 MBoepd compared with average production during Q3 2018 of 14.3 MBoepd. NWG 38A-7 expected water injector found additional oil column, currently producing 360 Bopd from Red Bed. Accelerated two 2019 wells into 2018 program: Drilling M-10 twin well targeting Asl A pool as a potential producer or injector; Preparing wellsite for NWG 38A-8 potential Red Bed injector or oil well. Submitted declaration of commercial oil well discovery for SGZ – 6X discovery, to begin development discussions with the Egyptian General Petroleum Company (“EGPC”). Equipping the 2018 Cardium Hz wells (five one-mile and one two-mile) for production, following frac stimulation and flow cleanup. With improved light oil differentials, the Company […]
