TransGlobe Announces Yemen Success
TransGlobe Energy Corp. on Tuesday announced a successful oil well at Godah #6 in Yemen.
Block 32, Yemen (13.81% working interest)
The Godah #6 development well was drilled to a total measured depth of 1,752 meters and completed as a producing Qishn S1-A oil well. Godah #6 was drilled at a location approximately 1,000 meters east of the Godah #2.
Godah #6 is currently producing 2,548 barrels of oil per day and 27 barrels per day of water from a 4 meter interval in the Qishn S1-A sand. The drilling rig has moved to a non owned adjacent block. A second larger drilling rig arrived on Block 32 for a two well program and commenced drilling Godah #7 on June 4. Godah #7 is a development well located approximately 770 meters east of Godah #6. The Godah #7 well will be drilled to basement with results expected by early July.
Following Godah #7, the rig will move to Nuzooh #1 (formerly Tasour SW #1) to drill an exploration well targeting Qishn and Madbi/Naifa prospects south and west of the main Tasour field. Nuzooh #1 is located approximately 2.3 kilometers west of Tasour #23ST which recovered 200 barrels of light oil from the Naifa. Planned testing of the Tasour #23ST Naifa discovery (announced December 28, 2006), has been deferred pending the results of Nuzooh #1.
Block S-1, Republic of Yemen (25% working interest) The An Nagyah #26 upper Lam A horizontal development well is currently drilling with results expected by the end of June.
Production Update - Corporate
Company production averaged approximately 5,250 Barrel of oil equivalent per day ((1)Boepd) during May and is expected to average approximately 5,600 Boepd during June with the addition of increased production at Godah and in Canada.
TransGlobe Energy is an oil and gas producer with proved reserves and production operations in The Republic of Yemen and in Alberta, Canada. TransGlobe has an active exploration and development program planned for 2007 in The Republic of Yemen, the Arab Republic of Egypt and in Canada. The Company owns working interests in more than 6.8 million acres across their operating regions. In 2006, the Company set new records for total proved reserves and annual production.
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