TransGlobe Energy Corporation Announces Filing of Amended 2009 Year End Disclosure Documents
May 26 2010 - 10:00PM
Marketwired
TransGlobe Energy Corporation ("TransGlobe" or the "Company") (TSX:
TGL) (NASDAQ: TGA) today filed an amended Annual Information Form
("AIF"), for the year ended December 31, 2009 with Canadian
Securities regulatory authorities on the System for Electronic
Document Analysis and Retrieval ("SEDAR"). In addition, TransGlobe
has filed on the Electronic Data Gathering, Analysis and Retrieval
("EDGAR") system in the United States its amended annual report on
Form 40-F/A for the year ended December 31, 2009, which also
includes TransGlobe's amended AIF.
Subsequent to comments received from the Alberta Securities
Commission ("ASC") the Company has amended the NI 51-101 Statement
of Reserves portion of the AIF for the period ended December 31,
2009. The changes are contained to pages 29 & 30 of the AIF and
involve a correction to the sub-categories in the "Reconciliation
of Changes in Reserves" tables as they relate Light & Medium
Oil and Heavy Oil allocations for both the Company table and the
Egypt table. The Company's Reserve numbers, Reserve classifications
and Net Present Values of Future Net Revenues for the period ended
December 31, 2009 were not changed.
The AIF includes TransGlobe's reserves data and other oil and
gas information for the period ended December 31, 2009 as required
by National Instrument 51-101 Standards of Disclosure for Oil and
Gas Activities of the Canadian Securities Administrators. Copies of
TransGlobe's amended AIF and disclosure documents may be accessed
electronically from www.sedar.com. Copies of the amended annual
report on Form 40-F/A may be accessed electronically from
www.sec.gov.
TransGlobe Energy Corporation is a Calgary-based,
growth-oriented oil and gas exploration and development company
focused on the Middle East/North Africa region with production
operations in the Arab Republic of Egypt and the Republic of Yemen.
TransGlobe's common shares trade on the Toronto Stock Exchange
under the symbol TGL and on the NASDAQ Exchange under the symbol
TGA.
Cautionary Statement to Investors:
This news release may include certain statements that may be
deemed to be "forward-looking statements" within the meaning of the
U.S. Private Securities Litigation Reform Act of 1995. Such
statements relate to possible future events. All statements other
than statements of historical fact may be forward-looking
statements. Forward-looking statements are often, but not always,
identified by the use of words such as "seek", "anticipate",
"plan", "continue", "estimate", "expect", "may", "will", "project",
"predict", "potential", "targeting", "intend", "could", "might",
"should", "believe" and similar expressions. These statements
involve known and unknown risks, uncertainties and other factors
that may cause actual results or events to differ materially from
those anticipated in such forward-looking statements. Although
TransGlobe's forward-looking statements are based on the beliefs,
expectations, opinions and assumptions of the Company's management
on the date the statements are made, such statements are inherently
uncertain and provide no guarantee of future performance. Actual
results may differ materially from TransGlobe's expectations as
reflected in such forward-looking statements as a result of various
factors, many of which are beyond the control of the Company. These
factors include, but are not limited to, unforeseen changes in the
rate of production from TransGlobe's oil and gas properties,
changes in price of crude oil and natural gas, adverse technical
factors associated with exploration, development, production or
transportation of TransGlobe's crude oil and natural gas reserves,
changes or disruptions in the political or fiscal regimes in
TransGlobe's areas of activity, changes in tax, energy or other
laws or regulations, changes in significant capital expenditures,
delays or disruptions in production due to shortages of skilled
manpower, equipment or materials, economic fluctuations, and other
factors beyond the Company's control. TransGlobe does not assume
any obligation to update forward-looking statements if
circumstances or management's beliefs, expectations or opinions
should change, other than as required by law, and investors should
not attribute undue certainty to, or place undue reliance on, any
forward-looking statements. Please consult TransGlobe's public
filings at www.sedar.com and www.sec.gov/edgar.shtml for further,
more detailed information concerning these matters.
Contacts: TransGlobe Energy Corporation Scott Koyich Investor
Relations 403.262.9888 investor.relations@trans-globe.com
www.trans-globe.com
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