TransGlobe Energy Corporation reports a mid-quarter production and operating update. All dollar values are expressed in United States dollars unless otherwise stated. The calculations of barrels of oil equivalent are based on a conversion rate of six thousand cubic feet of natural gas to one barrel of crude oil. Boes may be misleading, particularly if used in isolation. A Boe conversion ratio of 6 Mcf: 1 Bbl is based on an energy equivalency conversion method primarily applicable at the burner tip and does not represent a value equivalency at the wellhead.

The Company's total production averaged approximately 6,970 Boepd in January and 7,800 Boepd in February. New wells, estimated to increase total Company production to approximately 8,000+ Boepd for March 2008, were brought on production during February on the West Gharib leases. The estimated 8,000+ Boepd in March 2008 represents a 17 percent increase over the fourth quarter of 2007 (6,837 Boepd) as a result of new wells and the acquisition of additional interest in the West Gharib producing assets in Egypt on February 5th.

Tags: TransGlobe Energy Corporation