TransGlobe in Egypt oil find

Egypt

CALGARY, November 19, 2018 – TransGlobe Energy Corporation has struck crude in Egypt’s Western Desert, the Canadian company announced on Monday.

Well South Ghazalat 6X tested at a combined rate of 3,840 bopd, tapping the Upper and Lower Bahariya formations, the press release added.

“We are delighted that our perseverance in the Western Desert has been rewarded with a light oil discovery and very encouraging test rates,” Randy Neely, TransGlobe’s president, said. “Once we have completed our planning we will be able to incorporate the development of this discovery into our 2019 plan, and provide updated capital and production guidance.”

The news came days after Kuwait Energy announced an oil find in the Abu Sennan concession nearby.

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