TransGlobe Energy Corporation today announces the closing of the West Bakr acquisition in Egypt from The Egyptian Petroleum Development Co. Ltd. (of Japan) that was completed on December 29, 2011.

TransGlobe West Bakr Inc (TGWB), a wholly owned subsidiary of TransGlobe Energy Corporation, has entered into a Sale and Purchase Agreement (SPA) to acquire all the Egyptian assets of The Egyptian Petroleum Development Co. Ltd. (of Japan) (EPEDECO) for $60 million plus or minus adjustments.