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| Suite 2900, 330 5th Avenue SW, Calgary, AB, T2P 0L4, CA. TEL: 403-264-9888 | ||||||
| Last Sale | Net Change | % Change | Volume | Last Updated | ||
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| $3.55 | 0.11 | 3.20 | 166,403 | 11/20/09 4:00 PM ET | ||
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| Security Type | Common Stock | Specialist | 987 | |
| Industry | Oil & Gas Extraction, Production, Products, and Services | Trading Post | 5 | |
| Primary Exchange | NASDAQ | 0000736744 | ||
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| Description |
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TransGlobe Energy Corp., through its wholly-owned subsidiaries, explores for, and develops and produces oil and gas in Canada, in the Arab Republic of Egypt and in the Republic of Yemen. The company also reviews potential acquisitions and new international exploration blocks to supplement its exploration and development activities. TransGlobe's major operations and principal activities are in the oil and gas exploration and production business. The company has operated in the Republic of Yemen, Canada and Egypt during the past nine, seven and three years, respectively. In the Republic of Yemen, the company has interests in five PSA's. In Eastern Yemen, TransGlobe has interests in three Blocks located in the prolific Masila Basin which are operated by DNO ASA (an independent Norwegian oil company). The Masila basin was originally discovered and developed by Nexen and has ultimate reserves in excess of 1 billion barrels of oil discovered to date. Current producers in the Masila basin are Nexen, Total, DNO, Dove and Calvalley. In Western Yemen, the company has interests in two Blocks located in the prolific Marib Basin, which are operated by Occidental Petroleum (OXY). The Marib basin was originally discovered and developed by Hunt Oil and has ultimate reserves in excess of 900 million barrels of oil and 16 trillion cubic feet of natural gas discovered to date. Current producers in the Marib basin are Safer, Hunt, OXY and OMV. In Canada, all of the company's interests are located in the Province of Alberta, primarily in central Alberta. TransGlobe acquired its Canadian operations in April 1999. TransGlobe operates most of the wells. Until 2003, investment in Canadian operations was limited to development and exploitation of producing areas with minimal investment in land or exploration opportunities. Since 2003, Canadian operations have been successfully expanded providing increased cash flow and asset value. The company plans to continue expanding the Canadian operations to capitalize on the North American gas market. In 2004, TransGlobe Petroleum Egypt Inc. entered into a Farmout Agreement with Quadra Egypt Limited (QEL), subsequently acquired by Arsenal Energy Inc., and Rampex Petroleum International, headquartered in Cairo. Under the terms of the agreement, TransGlobe Egypt earns a 50% interest in the Nuqra Concession by paying 100% of the initial $6.0 million of expenditures in the Period One and the Period Two work programs. After the initial $6.0 million has been spent, costs will be shared 60% TransGlobe Egypt and 40% Arsenal. |
| Quote |
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| Last Sale | $3.55 (N.A.) | |||
| Net Change | 0.11 | |||
| % Change | 3.20 | |||
| Previous Close | $3.44 | |||
| Today’s Open | $3.40 | |||
| Today’s High | $3.60 | |||
| Today’s Low | $3.40 | |||
| Volume | 166,403 | |||
| 52 Week High | $4.70 | |||
| 52 Week Low | $1.62 | |||
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| Chart |
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| Fundamentals |
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| P/E ratio | -86.00 | Short Interest | N.A. | |
| Earnings Per Share | 0.00 | Current yield | N.A. | |
| Shares Outstanding | 65,328,000 | Dividend Info | ||
| Market Cap | 231,914,400 | |||
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