TransGlobe Underscores Production Increases, Activities in West Gharib

West Gharib Licenses
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TransGlobe has provided an update on recent production increases and drilling activities on its Hana West field at West Gharib in the Arab Republic of Egypt.

Corporate Production Update

  • Total Company production today surpassed 9,500 barrels of oil per day ("Bopd") with the addition of the recently drilled Hana West #3 well.
  • Oil production averaged 7,680 Bopd during the month of January. TransGlobe exited the month at over 9,000 Bopd.
  • Production from the Company-operated West Gharib Concession in Egypt increased to 4,170 Bopd in January with the additions of Hana #18 for the full month at 660 Bopd and six days of production from Hana West #2 at month-end. Total production from the West Gharib fields currently stands at over 6,200 Bopd, an increase of 107 percent from the total field rate at the time of the initial acquisition of the West Gharib properties in September 2007.
  • TransGlobe's assets in Yemen produced an average 3,510 Bopd during January. Production was curtailed from Block S-1 due to a gas injection compressor failure and unscheduled export pipeline outages. This reduction was partially offset by production increases from Block 32. Compressor repairs on Block S-1 are expected to be completed during February, which should restore an estimated 1,000 Bopd (250 Bopd to TransGlobe) currently shut in.

Hana West Field

Production Update:

  • Hana #18 (discovery well) - producing 660 Bopd from the Asl A zone with a pump jack.
  • Hana West #2 - producing 2,020 Bopd from the Asl B zone with a rented jet pump.
  • Hana West #3 - completed and on production February 2, 2009 from the Asl B zone at an initial rate of 300 Bopd with a progressive cavity pump.

Drilling Update:

  • Hana West #4 was drilled as a step-out appraisal well to the west of the Hana #18 discovery well. The primary targets in the Asl A & B zones were faulted out at the Hana West #4 location. However, two new potential zones (25 feet and 10 feet potential net pay respectively) in the lower Asl C zone were encountered. The Hana West #4 well will be cased as a potential multi-zone oil discovery in the lower Asl C. It is expected that production testing will occur over the next three to four weeks.
  • The next Hana West appraisal well, Hana West #5, will target an extension of the pool approximately 500 meters northwest of Hana West #3.
  • The drilling rig will be moved to drill Hana #19, a water injection well for the Hana pool waterflood. Hana West #5 will follow Hana #19.

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