TransGlobe Energy Corporation Acquires Operated Interest in the South Alamein Concession Agreement in Egypt for $3.0M

TransGlobe Energy Corporation TGA announces the signing of a Sale and Purchase Agreement to acquire a 50% operated working interest in the South Alamein Concession in the Arab Republic of Egypt from Cepsa Egypt SA B.V., a wholly owned subsidiary of COMPANIA ESPANOLA DE PETROLEOS, S.A. (of Spain) subject to the approval of the Egyptian Government and customary closing conditions. The transaction highlights include: -- $3.0 million all-cash deal; -- An expansion of TransGlobe's portfolio in Egypt's Western Desert, located approximately 150 kilometres northwest of Cairo;