complete report here
http://finance.yahoo.com/news/transglob ... 00488.html
..TransGlobe Energy Corporation Announces Third Quarter 2012 Financial and Operating Results
Press Release: TransGlobe Energy Corporation – 2 hours 5 minutes ago....Email
Share0Print.....RELATED QUOTES.
.Symbol Price Change
TGA 11.80
......CALGARY, ALBERTA--(Marketwire - Nov 8, 2012) - TransGlobe Energy Corporation (TGL.TO) (TGA) ("TransGlobe" or the "Company") is pleased to announce its financial and operating results for the three and nine months ended September 30, 2012. All dollar values are expressed in United States dollars unless otherwise stated.
HIGHLIGHTS
•Increased production to an average of 18,143 Bopd (17,124 Bopd sales) for the quarter;
•Third quarter funds flow of $35.4 million;
•Third quarter earnings of $11.8 million (includes a $4.4 million unrealized loss on convertible debentures);
•Spent $17.5 million on exploration, development and acquisitions during the quarter;
•Drilled 9 wells in the quarter resulting in 6 oil wells and 3 dry holes;
•Ended the quarter with $45.7 million in cash and cash equivalents; positive working capital of $252.2 million or $117.4 million net of debt (including convertible debentures);
•Closed corporate acquisition of Cepsa on July 26, 2012, providing the remaining operated 50% working interest in the South Alamein concession;
•The Company''s first oil production in the Western Desert of Egypt;
•The Company was the successful bidder on four concessions offered in the EGPC 2011 bid round (NW Gharib, SW Gharib, SE Gharib and S Ghazalat).
A conference call to discuss TransGlobe''s 2012 third quarter results presented in this news release will be held Thursday, November 8, 2012 at 9:00 AM Mountain Time (11:00 AM Eastern Time) and is accessible to all interested parties by dialing 1-416-981-9005 or toll-free 1-800-736-4610 (see also TransGlobe''s news release dated November 1, 2012). The webcast may be accessed at http://events.digitalmedia.telus.com/tr ... /index.php
TGA reports
Re: TGA reports
S Ghazalat area could be a big deal for the company. This is Apache country. 
Abu Gharadig Field in Egypt's Western Desert
To bad we have to wait to 2014.
These are bigger wells , Could really change TGA production
Apache Reports New Drilling Successes at Faghur Basin, Abu Gharadig Field in Egypt's
Western Desert
HOUSTON, Sept. 19, 2011 /PRNewswire/ -- Apache Corporation (NYSE, Nasdaq: APA) today reported results from two new wells
in Egypt's Western Desert that signal continued drilling success in the Faghur Basin and on concessions acquired in 2010.
l A production test of the Cretaceous Alam El Buieb (AEB) sand in the Tayim South 1-X well in the Faghur Basin flowed at a
rate of 8,196 barrels of oil per day.
l The Lower Bahariya formation in the AG-90 development well in the Abu Gharadig Field, which was acquired in 2010,
flowed 7,614 barrels of oil and 1.5 million cubic feet (MMcf) of natural gas per day during a completion test.
The Tayim South 1-X well is the latest in a series of discoveries in the Faghur Basin based on Apache's interpretation of recently
acquired 3-D seismic surveys across several of its concession areas, including the West Kalabsha Concession, where Apache
owns a 100% contractor interest.
"The Tayim South discovery is located along a prominent east-west fault trend that stretches nearly 25 miles, all within Apacheoperated
concession boundaries, and includes productive intervals in the AEB, Safa and Paleozoic formations," said Tom
Voytovich, vice president of Apache's Egypt Region. "We have drilled 13 exploratory tests along this trend during 2011, 11 of
which were discoveries. We are planning five additional tests before year-end."
Tayim South 1-X is the highest-oil-rate completion Apache has tested since it began operating in the Western Desert in 1996.
"The AG-90 well was drilled as part of an aggressive campaign to develop oil reserves in the Abu Roash and Bahariya formations
in the Abu Gharadig field," said Voytovich.
The latest well encountered 189 feet of pay in six separate zones. It was completed with 18 feet of perforations from a total 84 net
feet of oil pay in the Lower Bahariya and is currently producing 5,200 barrels of oil and 5 MMcf of gas per day.
Apache has drilled 11 successful wells in the Abu Gharadig Field since acquiring the properties, with oil production rising 20
Apache has drilled 11 successful wells in the Abu Gharadig Field since acquiring the properties, with oil production rising 20
percent to 24,000 barrels per day, and gas production increasing 70 percent to 60 MMcf per day. Existing facilities allow wells to
be brought on production rapidly, although pipeline and mechanical issues have restricted condensate production.
"We believe there is a good opportunity to leverage existing processing and transportation infrastructure to maximize efficiency at
the Abu Gharadig Field complex," Voytovich said. "These new wells and others across Apache's concession holdings will help
meet Egypt's current demand for energy and add value for Apache and our Egyptian partners."
Apache Corporation is an oil and gas exploration and production company with operations in the United States, Canada, Egypt,
Abu Gharadig Field in Egypt's Western Desert
To bad we have to wait to 2014.
These are bigger wells , Could really change TGA production
Apache Reports New Drilling Successes at Faghur Basin, Abu Gharadig Field in Egypt's
Western Desert
HOUSTON, Sept. 19, 2011 /PRNewswire/ -- Apache Corporation (NYSE, Nasdaq: APA) today reported results from two new wells
in Egypt's Western Desert that signal continued drilling success in the Faghur Basin and on concessions acquired in 2010.
l A production test of the Cretaceous Alam El Buieb (AEB) sand in the Tayim South 1-X well in the Faghur Basin flowed at a
rate of 8,196 barrels of oil per day.
l The Lower Bahariya formation in the AG-90 development well in the Abu Gharadig Field, which was acquired in 2010,
flowed 7,614 barrels of oil and 1.5 million cubic feet (MMcf) of natural gas per day during a completion test.
The Tayim South 1-X well is the latest in a series of discoveries in the Faghur Basin based on Apache's interpretation of recently
acquired 3-D seismic surveys across several of its concession areas, including the West Kalabsha Concession, where Apache
owns a 100% contractor interest.
"The Tayim South discovery is located along a prominent east-west fault trend that stretches nearly 25 miles, all within Apacheoperated
concession boundaries, and includes productive intervals in the AEB, Safa and Paleozoic formations," said Tom
Voytovich, vice president of Apache's Egypt Region. "We have drilled 13 exploratory tests along this trend during 2011, 11 of
which were discoveries. We are planning five additional tests before year-end."
Tayim South 1-X is the highest-oil-rate completion Apache has tested since it began operating in the Western Desert in 1996.
"The AG-90 well was drilled as part of an aggressive campaign to develop oil reserves in the Abu Roash and Bahariya formations
in the Abu Gharadig field," said Voytovich.
The latest well encountered 189 feet of pay in six separate zones. It was completed with 18 feet of perforations from a total 84 net
feet of oil pay in the Lower Bahariya and is currently producing 5,200 barrels of oil and 5 MMcf of gas per day.
Apache has drilled 11 successful wells in the Abu Gharadig Field since acquiring the properties, with oil production rising 20
Apache has drilled 11 successful wells in the Abu Gharadig Field since acquiring the properties, with oil production rising 20
percent to 24,000 barrels per day, and gas production increasing 70 percent to 60 MMcf per day. Existing facilities allow wells to
be brought on production rapidly, although pipeline and mechanical issues have restricted condensate production.
"We believe there is a good opportunity to leverage existing processing and transportation infrastructure to maximize efficiency at
the Abu Gharadig Field complex," Voytovich said. "These new wells and others across Apache's concession holdings will help
meet Egypt's current demand for energy and add value for Apache and our Egyptian partners."
Apache Corporation is an oil and gas exploration and production company with operations in the United States, Canada, Egypt,