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Tag: Transglobe

TransGlobe Energy announces Mid-Quarter Egypt Update for Q4 2016

Posted: December 22, 2016 at 3:03 pm   /   Oil & Gas

TransGlobe Energy Corporation announced the mid-quarter Egypt update for the fourth quarter of 2016. All dollar values are expressed in Canadian dollars unless otherwise stated. Mid-Quarter Operational Highlights, Arab Republic of Egypt: Production Recovery Plan (“PRP”) is on target to achieve 13,000 to 14,000 Bopd by year end 2016. Q4 production expected to meet or […]

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Oil Ministry makes $100 million payment to smaller IOCs

Posted: December 18, 2016 at 11:17 pm   /   Oil & Gas

The Oil Ministry made a USD 100 million payment to IOCs for overdue receivables, Al Mal reported. The payment was not made to major operators, but to smaller companies, including Circle Oil, TransGlobe Energy, and SDX, a source said. The source noted specifically that Circle Oil got 30% of its total receivables with a payment […]

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Egyptian Military gives TransGlobe green light on South Alamein

Posted: September 17, 2016 at 1:36 pm   /   Oil & Gas

TransGlobe Energy has finally received the approvals needed to proceed with its exploration program on its South Alamein Concession in Egypt. The company had been waiting to receive military access approvals in order to move forward on its program. The approvals are the result of significant efforts on the part of the Minister of Petroleum, […]

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TransGlobe Energy Corporation announces access to South Alamein and proposed amendments to Convertible Debentures

Posted: September 13, 2016 at 8:50 pm   /   Oil & Gas

TransGlobe Energy Corporation is pleased to announce an operational update on the South Alamein concession and calling of a meeting of the holders of its 6.0% convertible debentures. South Alamein, Arab Republic of Egypt (100% working interest, operated) The Company is very pleased to announce that it has received military access approvals to commence work […]

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Independent Resources close to extracting revenue at East Ghazalat

Posted: May 12, 2016 at 1:27 pm   /   Oil & Gas

Independent Resources was moving closer to extracting revenue from its East Ghazalat concession in Egypt on Tuesday, as it updated the market on the project’s recent developments. The firm holds a 50% share in East Ghazalat, along with fellow AIM-traded company Nostra Terra Oil & Gas. Its board said it was continuing to make progress […]

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Seeking Alpha: Apache Energy – Turnaround and Future Growth

Posted: April 18, 2016 at 10:00 am   /   Oil & Gas

Summary The company has $1.5 billion in cash and a $3.5 billion credit line that does not mature until 2020. Even then it can be extended. The current ratio is nearly two-to-one. Egyptian wells are low cost and provide the means to profitably increase production. North Sea wells are more expensive but also highly profitable. […]

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Fall of oil price pushes EGPC to halt tender for new exploration

Posted: January 10, 2016 at 7:57 pm   /   Oil & Gas

The price of Brent on international markets recorded $34.4 on Wednesday and reached a maximum of $45 in November. The Egyptian General Petroleum Corporation (EGPC) postponed offering new exploration tenders for oil and gas for foreign companies in ten areas until prices of Brent oil stabilise in international markets, instead of offering tenders early in […]

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TransGlobe Energy – East Ghazalat asset receives a good price

Posted: October 9, 2015 at 6:22 pm   /   Oil & Gas

Independent Resources and Nostra Terra, which are both party to a 50:50 JV with the express purpose to acquire E&P assets in North Africa, have agreed to acquire TransGlobe’s East Ghazalat concession in Egypt. TGA holds a 50% working interest in East Ghazalat, for which the JV is to pay $3.5m. This represents a significant […]

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Independent Resources and Nostra Terra acquire producing assets in Egypt

Posted: October 6, 2015 at 7:49 pm   /   Oil & Gas

Independent Resources plc (IRG) announced the intention to establish a strategic joint venture company (“JVCO”) owned 50-50 with Nostra Terra Oil & Gas Company plc (“Nostra Terra”) focused on the acquisition of producing assets in the North Africa region. IRG and Nostra Terra are pleased to announce that it has reached agreement with TransGlobe Energy […]

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