2009-08-18-2008-02-01-2008-03-01

Bought co., gaining 30% WI in leases in the West Gharib PSC.

TransGlobe Energy Corp., Calgary, (Toronto: TGL; Amex: TGA) has completed its acquisition of privately held GHP Exploration (West Gharib) Ltd. for US$46.4 million. GHP holds a 30% working interest in eight development leases and one pending lease comprising the West Gharib production-sharing concession in Egypt. TransGlobe now holds a 100% interest in the Hana development lease and a 75% interest in the remaining seven leases. Proved reserves are 1.7 million barrels of oil equivalent and 3 million barrels proved plus probable. Production is 900 barrels of oil per day. TransGlobe reports it paid approximately US$44,670 per producing barrel, or US$13.40 per proved plus probable barrel. TransGlobe funded the acquisition from an expanded credit facility and working capital. The effective date is Sept. 30, 2007. TransGlobe subsidiary Dublin International Petroleum (Egypt) Ltd. is operator.