CALGARY, ALBERTA--(CCNMatthews - Aug. 9, 2006) - TransGlobe Energy Corporation ("TransGlobe" or the "Company") (TSX:TGL) (AMEX:TGA) today filed an amended Annual Information Form ("AIF"), for the year ended December 31, 2005 with Canadian Securities regulatory authorities on the System for Electronic Document Analysis and Retrieval ("SEDAR"). In addition, TransGlobe has filed on the Electronic Data Gathering, Analysis and Retrieval ("EDGAR") system in the United States its amended annual report on Form 40-F/A for the year ended December 31, 2005, which also includes TransGlobe's amended AIF.
At the request of the Alberta Securities Commission ("ASC"), the Company has amended the NI 51-101 Statement of Reserves portion of the AIF for the period ended December 31, 2005. The changes requested by the ASC were primarily to provide additional clarification through expanded notes and the formatting of data to be consistent with the ASC's expectation for reporting under NI 51-101. The Company's Reserve numbers, Reserve classifications and Net Present Values of Future Net Revenues for the period ended December 31, 2005 were not changed.
The AIF includes TransGlobe's reserves data and other oil and gas information for the period ended December 31, 2005 as required by National Instrument 51-101 Standards of Disclosure for Oil and Gas Activities of the Canadian Securities Administrators. Copies of TransGlobe's amended AIF and disclosure documents may be accessed electronically from www.sedar.com
. Copies of the amended annual report on Form 40-F/A may be accessed electronically from www.sec.gov
TransGlobe is a growth oriented international energy company engaged in the exploration, development and production of crude oil and natural gas in the Republic of Yemen, the Arab Republic of Egypt and 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, well production performance, exploitation and exploration successes, continued availability of capital and financing, and general economic, market or business conditions.
TRANSGLOBE ENERGY CORPORATION
s/s Ross Clarkson
Ross G. Clarkson,
President & C.E.O.