Dara Petroleum Company (Petrodara), a subsidiary of TransGlobe drilled new development well Hoshia-14, in the Hoshia North field, onshore the Gulf of Suez Basin.

The oil producing well was drilled to a total depth of 4160 feet, worth $755 thousand-investment.
The well, drilled through the EDC-62 rig, has not been placed on production line yet.

TransGlobe succeeded to hold 100% working interest on all nine West Gharib leases in 2008, when it an -million deal in 2008 to acquire an additional 25% in the eight development leases of Fadl, Hoshia, Hoshia North, Hoshia West, Hoshia East, Rami South, Arta and Arta East on West Gharib contract.