TGA - TransGlobe Energy Is Resuming A Growth Strategy

• The new contract roughly doubles margins at various pricing levels.
• Rigs are now mobilized and will result in production growth in the next fiscal year.
• Generally, small companies succeed by finding a niche to stay out of the way of the competition of large companies.
• Right now exploration wells cannot compete for capital with the low cost high return production restoration projects.
• Egypt benefits from the new contract through the addition of some higher cost production to sell.

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