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Stock Market & Financial Investment News

News Breaks
January 23, 2013
17:45 EDTTGATransGlobe Energy announced 32.8MMBbl total reserves at December 31
TransGlobe's total proved reserves increased 16% to 32.8 MMBbl at December 31 from 28.2 MMBbl at December 31, 2011. This increase in proved reserves represents a production replacement in 2012 of 172%. The company produced 6.4 MMBbl of reserves during 2012. Total 2P reserves grew 10% to 48.7 MMBbl at December 31 from 44.2 MMBbl at December 31, 2011. Total 3P reserves grew 4% to 62.4 MMBbl at December 31 from 59.8 MMBbl at December 31, 2011.
News For TGA From The Last 14 Days
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March 5, 2015
05:40 EDTTGATransGlobe reports Q4 FFO 19c, compared to 49c a year ago
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05:36 EDTTGATransGlobe sees 2015 capital budget $37.5M
The 2015 capital program is split 49:51 between development and exploration, respectively. The focus for 2015 will be on building the exploration prospect inventory from the recently acquired seismic in the Eastern Desert region of Egypt, completing the planned 400 km2 3-D seismic program on the South Ghazalat concession in the Western Desert and preparing the three new North West Gharib oil discoveries for development. The company currently plans to drill five wells in 2015, however, drilling activities can be adjusted should oil prices improve during 2015. It is anticipated that the company will fund its 2015 capital budget from funds flow from operations and working capital.
05:35 EDTTGATransGlobe sees Q2 production to be approximately 13,300 Bopd
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05:35 EDTTGATransGlobe sees Q1 production of 14,500 Bopd
The company reduces 2015 capital program to $37.5M in response to low oil prices. TransGlobe commented, "On January 24 TransGlobe lifted its first directly marketed crude oil shipment. That cargo was exclusively West Gharib entitlement production. The total amount lifted was approximately 545,000 barrels and TransGlobe's entitlement production from West Gharib in Q1 is estimated to be 415,000 barrels. The over-lift portion of the marketed cargo or approximately 130,000 barrels will be applied against outstanding receivables at the end of Q1. West Bakr will be in an under-lift position of approximately 175,000 entitlement barrels at the end of the quarter and it is expected that April's cargo will be attributable to the company's West Bakr entitlement production."
05:34 EDTTGATransGlobe reports January production of 15,092 Bopd
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05:34 EDTTGATransGlobe reports Q4 production averaged 15,172 bpd
Reports Q4 average sales volume 15,139 Bopd. Reports Q4 average price of $66.41.

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