A Subsidiary of
TransGlobe began direct marketing Eastern Desert entitlement crude oil to international buyers in 2015. Direct oil marketing has improved liquidity and decreased credit risk.
EGPC’s cooperation on TransGlobe Energy’s export initiative is a positive indication of Egypt’s commitment to becoming a more open economy and attracting foreign investment.
Reserves and estimated future net revenues, as presented by GLJ Petroleum Consultants Ltd. ("GLJ") of Calgary, Alberta, are included in the Company's Annual Information Form, and is filed on SEDAR (http://www.sedar.com/).