TransGlobe Energy Corporation

TransGlobe Energy Corporation

March 15, 2005 10:32 ET

TransGlobe Energy Corporation Announces Update on Yemen Operations


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: TRANSGLOBE ENERGY CORPORATION

TSX SYMBOL: TGL
AMEX SYMBOL: TGA

MARCH 15, 2005 - 10:32 ET

TransGlobe Energy Corporation Announces Update on
Yemen Operations

CALGARY, ALBERTA--(CCNMatthews - March 15, 2005) - TransGlobe Energy
Corporation ("TransGlobe" or the "Company") (TSX:TGL) (AMEX:TGA)
announces an operations update on Block 32 in the Republic of Yemen.

Block 32, Yemen (13.81% working interest)

The Tasour #17 exploration well was drilled to a total depth of 1904
meters to test a separate Qishn structure to the east of the Tasour
Field. The well has been plugged and suspended after encountering Qishn
S-1A sand in a structurally low position. Although hydrocarbon shows
were encountered, no tests were conducted as it was determined that the
Qishn S-1A sand was water bearing.

A 70 kilometer 2-D seismic shoot is scheduled to get under way during
the second quarter, to define several exploration leads to the north and
west of the Tasour field.

The drilling rig is scheduled to move to a non-owned adjacent block for
a two well program before returning to Block 32 for additional drilling.
It is anticipated that the drilling rig will return to Block 32 in June
of 2005 for a 2 well program.

This release includes certain statements that may be deemed to be
"forward-looking statements" within the meaning of the US Private
Securities Litigation Reform Act of 1995. All statements in this
release, other than statements of historical facts, that address future
production, reserve potential, exploration drilling, exploitation
activities and events or developments that the Company expects, are
forward-looking statements. Although TransGlobe believes the
expectations expressed in such forward-looking statements are based on
reasonable assumptions, such statements are not guarantees of future
performance and actual results or developments may differ materially
from those in the forward-looking statements. Factors that could cause
actual results to differ materially from those in forward-looking
statements include oil and gas prices, exploitation and exploration
successes, continued availability of capital and financing, and general
economic, market or business conditions.


TRANSGLOBE ENERGY CORPORATION

s/s Lloyd Herrick

Lloyd W. Herrick

Vice President & C.O.O

-30-

Contact Information

  • FOR FURTHER INFORMATION PLEASE CONTACT:
    TransGlobe Energy Corporation
    Ross G. Clarkson
    President & C.E.O.
    (403) 264-9888
    (403) 264-9898 (FAX)
    or
    TransGlobe Energy Corporation
    Lloyd W. Herrick
    Vice President & C.O.O.
    (403) 264-9888
    (403) 264-9898 (FAX)
    Email: trglobe@trans-globe.com
    Website: www.trans-globe.com
    or
    Executive Offices
    #2500, 605 -5th Avenue, S.W.,
    Calgary, AB T2P 3H5