TransGlobe Energy Corporation

West Bakr

On March 28, 2011, TransGlobe announced the signing of a Sale and Purchase Agreement to acquire a 100% working interest in the West Bakr Concession agreement in Egypt from The Egyptian Petroleum Development Co. Ltd. (of Japan), subject to customary due diligence, closing conditions and the approval of the Egyptian Government. The West Bakr Concession is 45.2 square kilometres (11,600 acres) in two development leases, is located immediately adjacent to TransGlobe’s existing West Gharib development leases and produces approximately 4,000 Bopd. The oil produced ranges from 17° to 20° API and is pipeline connected to the Ras Gharib terminal on the coast, which is the same export terminal that West Gharib production is currently trucked to. There are three oil fields on the lands with cumulative production of approximately 50 MMBbl. TransGlobe has identified a number of optimization/development projects and drilling opportunities that could increase production and recoverable reserves.