TransGlobe (TGA) Issues Q3 Production Update; Currently Producing Above Qtr. Average

TransGlobe Energy Corporation (Nasdaq: TGA) is pleased to provide an update on third Quarter production and operations. All dollar values are expressed in United States dollars unless otherwise stated.

HIGHLIGHTS

• Drilling commenced October 10th on the South Mariut concession (60% Working Interest) at Al Azayem #1.
  
  
• Q-3 average production of 18,145 Bopd (Egypt 16,810 Bopd; Yemen 1,335 Bopd) a 7% increase over Q-2 average production.
  
  
• Q-3 average sales volumes of approximately 17,190 Bopd (Egypt 16,810 Bopd; Yemen 380 Bopd) with an increase of Yemen inventories which is scheduled for tanker lifting in Q4.
  
  
• September production averaged 18,525 Bopd (Egypt 16,869 Bopd; Yemen 1,656 Bopd).
  
  
• West Gharib production of 12,500 Bopd was shut-in for approximately 8 days (September 30th approx. October 7th) due to an illegal labor protest blocking crude oil deliveries from the West Gharib field to the GPC receiving terminal.
  
  
• Current production is approximately 20,000 Bopd.
  
  
• 2012 Guidance for production remains unchanged at 17,000 to 18,600 Bopd.

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