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TransGlobe Energy Corporation is a public company which has been involved in oil and gas exploration and production since 1992. Before that the Company (as Dusty Mac Mines Ltd. which was established in 1968) was engaged in mineral exploration and mining. In recent years the Company has gone through a major transformation process.
In 1996 the Company name was changed to TransGlobe Energy Corporation. With the appointment of new senior management at the end of 1996, TransGlobe has emerged as a vigorous new contender in the international oil and gas business.
Plans
We plan an exciting drilling program on Block S-1 commencing in early 2000. TransGlobe plans to increase western Canadian gas production by drilling several exciting gas prospects in 2000. On Block 32 in Yemen the Company will participate in the development of the Tasour field. Initial production is targeting 5,000 to 7,000 bopd (approximately 500-700 bopd to TransGlobe) from the two existing Tasour oil wells. Few other companies of TransGlobe's size have projects offering so much potential for so little capital.
Quick Facts
Line of Business: Exploration and production
Ownership: Public
Stock Exchange: OTC
Stock Ticker: TGLEF
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