NEWS RELEASE TRANSMITTED BY Marketwire



FOR: TRANSGLOBE ENERGY CORPORATION

TSX SYMBOL:
 TGL
NASDAQ SYMBOL:
 TGA

TransGlobe Energy Corporation Announces Successful Development Well in Republic of Yemen

Oct 26, 2004 - 10 26 ET

CALGARY, ALBERTA--(CCNMatthews - Oct. 26, 2004) - TransGlobe Energy 
Corporation ("TransGlobe" or the "Company") is pleased to announce a 
successful development well at Tasour #14. 

BLOCK 32, REPUBLIC OF YEMEN (13.81% working interest) 

Successful appraisal well at Tasour #14: 

Tasour #14, a development well on the western flank of the Tasour Field 
in Block 32, was put on production today with initial production of 
2,820 barrels of oil per day (389 barrels of oil per day to TransGlobe) 
and 1,330 barrels of water per day. Tasour #14 is one of several 
development locations planned within the western field extension defined 
by 3-D seismic. It is anticipated that the drilling rig will return to 
Block 32 early in 2005 to commence drilling on the potential eastern 
extension of the Tasour field in addition to several 
development/appraisal wells planned in 2005. The total oil production 
from the Tasour Field is expected to average approximately 18,000 Bopd 
during the fourth quarter, of which TransGlobe's share is approximately 
2,486 Bopd. 

TransGlobe is a growth oriented international exploration and production 
company with its corporate office in Calgary, Alberta, Canada. 
TransGlobe is projecting a 2005 average production rate of 5,500 Boed, 
an increase of 52% over the 2004 average rate. TransGlobe is well 
positioned for continued growth with interests in three production 
sharing agreements in the Republic of Yemen (two producing, one 
exploration), one exploration concession in the Arab Republic of Egypt 
and producing oil and gas properties in Alberta, Canada. 

This release includes certain statements that may be deemed to be 
"forward-looking statements" within the meaning of the US Private 
Securities Litigation Reform Act of 1995. All statements in this 
release, other than statements of historical facts that address future 
production, reserve potential, exploration drilling, exploitation 
activities and events or developments that the Company expects, are 
forward-looking statements. Although TransGlobe believes the 
expectations expressed in such forward-looking statements are based on 
reasonable assumptions, such statements are not guarantees of future 
performance and actual results or developments may differ materially 
from those in the forward-looking statements. Factors that could cause 
actual results to differ materially from those in forward-looking 
statements include oil and gas prices, exploitation and exploration 
successes, continued availability of capital and financing, and general 
economic, market or business conditions. 

/T/

s/s David Ferguson 

David C. Ferguson,
Vice President, Finance and C.F.O 

/T/

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FOR FURTHER INFORMATION PLEASE CONTACT:

TransGlobe Energy Corporation
Ross G. Clarkson
President & C.E.O.
(403) 264-9888
(403) 264-9898 (FAX)

or

TransGlobe Energy Corporation
Lloyd W. Herrick
Vice President & C.O.O.
(403) 264-9888
(403) 264-9898 (FAX)
Email: trglobe@trans-globe.com
Website: www.trans-globe.com

or

TransGlobe Energy Corporation
Executive Offices:
#2900, 330 -5th Avenue, S.W.
Calgary, AB T2P 0L4