TransGlobe acquires additional interest in West Gharib Properties

  • TransGlobe acquires additional interest in West Gharib Properties

    TransGlobe acquires additional interest in West Gharib Properties

    Tuesday, 19th August 2008
    TransGlobe Energy Corporation is pleased to announce it has completed the acquisition of an additional 25 percent in certain leases on its West Gharib (Arab Republic of Egypt) properties from its partner, a private company registered in Cyprus, for consideration of US$18.0 million adjusted to June 1, 2008. This acquisition brings TransGlobe's holdings to a 100 percent working interest on all nine West Gharib leases.