Egypt - Eastern Desert

TransGlobe's initial entry into Egypt occurred in July 2004 when the Company entered into a farm-out agreement and earned a 50% interest in the Nuqra Concession.

In September 2007, TransGlobe significantly expanded its Egyptian operations with the acquisition of approximately 55% and operatorship of the West Gharib Concession; this was followed by the acquisition of an additional 30% in February 2008, and the final 15% in August 2008, to give the Company 100% of the West Gharib Concession.

In December 2011, TransGlobe acquired a 100% working interest in the West Bakr Concession.

In November 2013, TransGlobe acquired a 100% working interest in the NW Gharib, SW Gharib, SE Gharib and South Ghazalat Concessions.

In November 2016, TransGlobe relinquished SE Gharib following completion of the first phase of exploration commitments. In May 2017, TransGlobe relinquished SW Gharib following completion of it’s exploration commitments. TransGlobe also relinquished NW Gharib’s exploration land in May 2017, and retains four development areas, one in production and three pending approval. TransGlobe holds a 100% working interest in three Concessions in the Eastern Desert of Egypt.

West Gharib

West Gharib consists of five development leases: Arta, East Arta, Hana, Hoshia and West Hoshia. These fields produce from the Asl, Markha, Nukhul, Lower Nukhul (Redbed), Rudeis, Lower Rudeis and Thebes formations. The crude oil produced ranges in quality from 16-26 API averaging 20 API and generally contains approximately 3% sulfur. As a result of this higher sulfur content West Gharib (and West Bakr) crude is exported, as part of Ras Gharib blend, to be refined outside of Egypt (Europe and Asia).

The West Gharib Concession has been a tremendous success for the Company. Through the implementation of and improvements to water flooding, water handling, pumping technology as well as exploration discoveries the West Gharib concession became the template for operational excellence.

From acquisition to peak (in 2013) TransGlobe increased production by over 400%.

Concession has additional exploitation and unconventional opportunities that may be pursued in the future.

West Bakr

The West Bakr acquisition, completed in late 2011, provides TransGlobe with synergies and operating leverage in the Eastern Desert Region.

The West Bakr Concession is located immediately adjacent to the West Gharib Concession. The West Bakr Concession contains three fields: H, K and M, which produce from the Asl and Yusr formations. Crude oil produced in West Bakr ranges from 14-20 API averaging 19 API and generally contains 4% sulfur. The infrastructure in the West Bakr Concession allows the Company to process the oil to pipeline specifications in the field.

TransGlobe has identified a number of optimization/development projects and drilling opportunities that could increase production and recoverable reserves.

In addition, TransGlobe has consolidated the West Bakr JV Operating Company and the West Gharib JV Operating Company to improve operational efficiencies and reduce costs.

North West Gharib

The North West Gharib concession was ratified into law on November 11th, 2013.

At North West Gharib the Company acquired 200 square kilometers of 3-D seismic and drilled 30 wells during the initial three year exploration phase was extended six months to May 2017. In December of 2016, the NWG Development Lease #1 was approved, with three additional development leases (NWG DL 2, 3 & 4) approved in 2017. The balance of the exploration lands were relinquished in 2017.

The North West Gharib Concession is early in its development lifecycle and contains both additional conventional and unconventional development opportunities.

Egypt - Western Desert

In November 2013, TransGlobe acquired a 100% working interest in the South Ghazalat Exploration Concession.

TransGlobe now has approximately 7,358 net acres in the Western Desert in one operated development lease.

South Ghazalat

The South Ghazalat Concession is located in the prolific Abu Gharadig basin.

TransGlobe drilled the successful oil discovery at SGZ 6X in the fall of 2018.

TransGlobe has received approval of a development lease in 2019, with first oil targeted for late 2019.

TransGlobe intends to drill an additional exploration well utilizing both the 3D seismic utilized to identify the initial SGZ 6X discovery as well as additional purchased seismic data.

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