TGL: FY10 Financial and Operating Results

GERRY DONNELLY, FirstEnergy Capital (03/16/2011)
"TransGlobe Energy announced its financial and op¬erating results for the three months and year ended December 31, 2010. Average daily production for the year stood at 9,960 bbl/d, broadly in line with stated guidance [and] production is expected to ramp-up by 33% to 13,000–13,500 bbl/d in 2011 with the drilling of 61 wells mostly focused on the Nukhul play in the West Gharib concession in Egypt. The company reported a net income of US$37.9M (FCC: US$48M) with a net income of US$0.55/share on a diluted basis (FCC: US$0.69/share)."

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