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AIM & TSX: “TGL” & NASDAQ: “TGA” 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 – TransGlobe Energy Corporation (“TransGlobe” or the “Company”) is pleased to announce its financial and operating results for the three months and year ended December 31, 2020. 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 years ended December 31, 2020 and 2019, are available on TransGlobe’s website at www.trans-globe.com . 2020 HIGHLIGHTS: 2020 production averaged 13,425 boe/d (Egypt 11,147 bbls/d, Canada 2,278 boe/d), a decrease of 16% from 2019 primarily due to deferred well interventions in Egypt during low oil prices, the curtailed 2020 capital program and natural declines; Sales averaged 15,437 boe/d in 2020 with an average realized price of $33.41/boe; 2020 average realized price on Egyptian sales of $35.94/bbl and Canadian sales of $18.82/boe; Inventoried entitlement crude oil in Egypt decreased to 227.9 Mbbls as at […]
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