TGL Provides 2011 Guidance

ALEXANDER KLEIN, Dundee Securities (11/29/2010)
"This morning TransGlobe provided 2011 capital spending and production guidance to the market Although our 2011 production and financial forecasts are above company guidance, we believe the company is being conservative with its production estimates and there is a strong possibility that actual results will exceed company guidance. We remind investors that TransGlobe expects to exit 2010 at 11,000 bbl/d or more.

We are maintaining our Buy recommendation on the company based on the belief that further upside potential is possible given the company's near-term drilling program that could result in further increases to the petroleum-in-place estimates at Arta and East Arta. Further, TransGlobe has at least six high-impact exploration wells being drilled over the next five months that could provide additional upside value if successful."

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