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Rising revenue and production offset by impairments



TransGlobe Energy Corporation was incorporated on August 6, 1968. The Company changed its name to TransGlobe Energy Corporation on April 2, 1996. TransGlobe, through its wholly owned subsidiaries, is primarily engaged in the exploration for, and the development and production of, oil and gas in the Arab Republic of Egypt and in the Republic of Yemen. TransGlobe is an independent, Canadian-based oil and gas company whose main business activities include exploration, development and production of crude oil, natural gas liquids and natural gas. The Company has exploration and production operations in the Republic of Yemen and in the Arab Republic of Egypt. TransGlobe Energy had a production project in Canada, bu sold it in Q2 2008 for 56.7 Million CDN.


Period Volume Type Pricing Put-Call

Crude Oil September 1, 2007- Financial

August 31, 2008            15,000 Bbls/month    Collar       $60.00-$78.55

January 1, 2008- Financial

December 31, 2008          12,000 Bbls/month    Collar       $60.00-$81.20

January 1, 2009- Financial

December 31, 2009          12,000 Bbls/month    Collar       $60.00-$82.10

September 1, 2008- Financial

January 31, 2009           11,000 Bbls/month    Collar       $60.00-$88.80

February 1, 2009- Financial

December 31, 2009           6,000 Bbls/month    Collar       $60.00-$86.10

January 1, 2010- Financial

August 31, 2010            12,000 Bbls/month    Collar       $60.00-$84.25

TransGlobe hedged about 26% of 2008 production at $82 a barrel and 12% of 2009 production at the same price level.


http://www.earthtimes.org/articles/show/transglobe-energy-2008-second-quarter-interim-report-and-news-release,496839.shtml http://www.domenicstrazzulla.com/2008/08/tga-potential-upside-with-a-nice-price-floor/

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