TransGlobe Energy (TGA)
Posted: Sun May 09, 2010 2:01 pm
I'm currently updating my TGA forecast. It will be posted to the website tomorrow.
The Company made excellent progress during the first quarter of 2010. Production, funds flow from operations and net income all increased significantly over the previous quarter. The West Gharib project area continues to be a star performer in the Company's portfolio and is expected to remain the focus for continued production and reserves growth. The Republic of Yemen ("Yemen") drilling program during the second half of 2010 is anticipated to also provide low risk, development gains and very significant exploration tests. A new exploration project was added in the Western Desert area of Egypt and a new oil discovery was found in only the second well. 2010 is expected to be the Company's most active drilling year.
Dan
The Company made excellent progress during the first quarter of 2010. Production, funds flow from operations and net income all increased significantly over the previous quarter. The West Gharib project area continues to be a star performer in the Company's portfolio and is expected to remain the focus for continued production and reserves growth. The Republic of Yemen ("Yemen") drilling program during the second half of 2010 is anticipated to also provide low risk, development gains and very significant exploration tests. A new exploration project was added in the Western Desert area of Egypt and a new oil discovery was found in only the second well. 2010 is expected to be the Company's most active drilling year.
Dan