TransGlobe Energy Corporation Provides Production Guidance for the Year 2015 and Funds Flow and Capital Expenditure Guidance for the First Quarter of 2015
For the first quarter of 2015, the production is estimated to average 14,000 barrels of oil per day, Egypt production of 13,800 Bopd (includes West Gharib, West Bakr and East Ghazalat). Yemen production of 200 Bopd (includes Block 32 only). Funds flow from operations is forecast to be $1.0 million ($0.01 per share) based on an average Brent oil price of $50/Bbl using production guidance of 14,000 Bopd.