Calgary, Alberta – TransGlobe Energy Corporation (AIM: TGL) (TSX: TGL) (NASDAQ: TGA) (“TransGlobe” or the “Company”) announces that it is aware of market speculation and rumours that the Egyptian Parliament has approved the Company’s consolidated and amended Eastern Desert production sharing contracts and that the agreement is awaiting ratification by Egyptian President Abdel Fattah El-Sisi. While it is the Company’s policy not to comment on market speculation or rumours, the Company has received no official confirmation that such approval has been given or that the agreement is awaiting the President’s ratification. The Company will continue to engage with Egypt’s Ministry of Petroleum and Mineral Resources and the Egyptian General Petroleum Corporation on this matter.
TransGlobe does not intend to make any further public announcements regarding any rumours or speculation unless it determines that disclosure is warranted and in accordance with the requirements of applicable law.