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TransGlobe Energy Corporation Announces New Concessions Ratified in Egypt

TransGlobe Energy Corporation Announces New Concessions Ratified in Egypt 
CALGARY, ALBERTA -- (Marketwired) -- 10/03/13 -- TransGlobe Energy
Corporation ("TransGlobe" or the "Company") (TSX:TGL) (NASDAQ:TGA) is
pleased to announce the ratification of four new Production Sharing
Concessions in Egypt. All dollar values are expressed in United
States dollars unless otherwise stated. 
ARAB REPUBLIC OF EGYPT  
NEW CONCESSIONS - EGPC BID ROUND  
TransGlobe has received written notice from the Egyptian Government
that the four Production Sharing Concessions ("PSCs") (100% working
interest) which were won in the 2011/2012 EGPC bid round have been
ratified into Law. It is expected that the new PSCs will be effective
following the customary documentation associated with work program
guarantees, settlement of signature bonuses and an official signing
ceremony which is expected to occur in October.  
Mr. Ross Clarkson, President and CEO states: "The approval of the
four new PSCs represents a significant milestone in the Company's
continued growth and commitment to Egypt and we are encouraged that
the current Egyptian Government is demonstrating its commitment to
follow through on its stated objective to facilitate increased
investment in oil and gas exploration and development in Egypt. The
four new PSCs will increase the Company's land position in Egypt by
160% to 1.3 million acres and will provide continued growth
opportunities to the Company for many years to come." 
North West Gharib, Arab Republic of Egypt (100% WI) 
The Company's primary objective was obtaining the 655 square
kilometer (162,000 acre) North West Gharib PSC which surrounds and
immediately offsets the Company's core West Gharib/West Bakr
producing PSCs (approx. 45,000 acres). At North West Gharib the
Company expects to commence drilling in the first half of 2014. The
Company has identified more than 79 drilling locations based on
existing well and seismic data for the area. The Company intends to
identify additional exploration targets by acquiring 3-D seismic data
on portions of the lands not currently covered by 3-D seismic. 
South West Gharib, Arab Republic of Egypt (100% WI) 
The 195 square kilometer (48,000 acre) South West Gharib PSC is
located immediately south of the North West Gharib concession. The
Company will acquire 3-D seismic over the entire concession prior to
drilling exploration wells in the first exploration phase. 
South East Gharib, Arab Republic of Egypt (100% WI) 
The 508 square kilometer (125,000 acre) South East Gharib PSC is
located immediately south of the South West Gharib concession. The
Company will acquire extensive 2-D and 3-D seismic over this area
prior to drilling exploration wells in the first exploration phase.  
South Ghazalat, Arab Republic of Egypt (100% WI) 
The 1,883 square kilometer (465,000 acre) South Ghazalat PSC is
located immediately to the west of our recently announced Jurassic
gas/condensate and Cretaceous oil discovery at North Dabaa 1X in the
East Ghazalat PSC. The Company will acquire extensive 3D seismic over
this area prior to drilling exploration wells in the first
exploration phase.  
TransGlobe Energy Corporation is a Calgary-based, growth-oriented oil
and gas exploration and development company focused on the Middle
East/North Africa region with production operations in the Arab
Republic of Egypt and the Republic of Yemen. TransGlobe's common
shares trade on the Toronto Stock Exchange under the symbol TGL and
on the NASDAQ Exchange under the symbol TGA. TransGlobe's convertible
debentures trade on the Toronto Stock Exchange under the symbol
TGL.DB. 
Cautionary Statement to Investors: 
This news release may include certain statements that may be deemed
to be "forward-looking statements" within the meaning of the U.S.
Private Securities Litigation Reform Act of 1995. Such statements
relate to possible future events. All statements other than
statements of historical fact may be forward-looking statements.
Forward-looking statements are often, but not always, identified by
the use of words such as "seek", "anticipate", "plan", "continue",
"estimate", "expect", "may", "will", "project", "predict",
"potential", "targeting", "intend", "could", "might", "should",
"believe" and similar expressions. These statements involve known and
unknown risks, uncertainties and other factors that may cause actual
results or events to differ materially from those anticipated in such
forward-looking statements. Although TransGlobe's forward-looking
statements are based on the beliefs, expectations, opinions and
assumptions of the Company's management on the date the statements
are made, such statements are inherently uncertain and provide no
guarantee of future performance. Actual results may differ materially
from TransGlobe's expectations as reflected in such forward-looking
statements as a result of various factors, many of which are beyond
the control of the Company. These factors include, but are not
limited to, unforeseen changes in the rate of production from
TransGlobe's oil and gas properties, changes in price of crude oil
and natural gas, adverse technical factors associated with
exploration, development, production or transportation of
TransGlobe's crude oil and natural gas reserves, changes or
disruptions in the political or fiscal regimes in TransGlobe's areas
of activity, changes in tax, energy or other laws or regulations,
changes in significant capital expenditures, delays or disruptions in
production due to shortages of skilled manpower, equipment or
materials, economic fluctuations, and other factors beyond the
Company's control. TransGlobe does not assume any obligation to
update forward-looking statements if circumstances or management's
beliefs, expectations or opinions should change, other than as
required by law, and investors should not attribute undue certainty
to, or place undue reliance on, any forward-looking statements.
Please consult TransGlobe's public filings at www.sedar.com and
www.sec.gov/edgar.shtml for further, more detailed information
concerning these matters. 
Contacts:
TransGlobe Energy Corporation
Scott Koyich
Investor Relations
403.264.9888
investor.relations@trans-globe.com
http://www.trans-globe.com