Dara Petroleum Company (PetroDara), a subsidiary of TransGlobe, completed the spudding of the new development well, EAST ARTA-22, in the West Gharib Lease, located in the Eastern Desert last month.

The EAST ARTA-22 is a crude oil-producing well, which was drilled using the ECPC-6 rig to the depth of 4430 thousand feet. The cost of drilling the new well totaled $660 thousand. By the end of December 2011, PetroDara’s  monthly production rate had reached 381503 barrels of crude oil for said month.