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TransGlobe Energy seismic exploration update

Oilfield Technology,

TransGlobe Energy Corporation has provided an operations update for Q2 2014. The company has a 100% working interst in West Gharib, Arab Republic of Egypt.

Operations and exploration

The company drilled three wells during Q2 resulting in two oil wells at Hana and one oil well at Arta. Year to date, TransGlobe has drilled eight wells resulting in seven oil wells and one dry hole at West Gharib.

The rig is currently drilling a development well at Hana and will drill a development well at Hana West prior to moving to the new North West Gharib concession for the balance of 2014.

Exploration seismic

Based on surface and remote-sensing mapping, TransGlobe believes the same structural configuration that created the pools found in the West Gharib concession is likely present in the NWG, SW Gharib (SWG) and SE Gharib (SEG) blocks.

The historical field size distribution data indicates that the average field size in the broader onshore Gulf of Suez (Eastern Desert) area is approximately 20 million barrels per field of recoverable resource. The company has identified an additional 15 areas of interest in the NWG block, four leads on the SWG block and two leads on the SEG block that will be followed up and further refined by field mapping and the high-resolution seismic acquisition program.

TransGlobe Energy has approved a large (1000+ km2 of 3D and 300+ km2 of 2D) seismic acquisition program for the Eastern Desert in 2014. The company has finalized the main tender process for the acquisition program and is in the process of finalizing the main contract. It is expected that seismic acquisition program could commence in the Eastern Desert during August, as all necessary access approvals have been received.

To read the full operations update, please click here.

Adapted from press release by Katie Woodward

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