TransGlobe Energy Corporation provide an operations update for the third quarter of 2013.
◾ Drilled 10 wells in Q3, resulting in 9 oil wells and 1 gas/condensate well (100% success)
◾ 2013 YTD drilled 35 wells resulting in 29 oil wells, 1 gas/condensate well and 5 dry holes (86% success)
◾ TransGlobe's production averaged 17,651 Bopd in July; 17,834 Bopd in August; and 19,238 Bopd in September
◾ West Bakr concession currently producing at the highest rate in its 30 year history
◾ Received $142.7 million to date from EGPC during 2013; additional tanker liftings are scheduled for November
◾ New concessions approved by Cabinet and forwarded to President; ratification is expected in late 2013
ARAB REPUBLIC OF EGYPT
West Gharib, Arab Republic of Egypt (100% working interest, operated)
Operations and Exploration
The Company drilled five wells in the third quarter resulting in five oil wells (four at East Arta and one at Hoshia).