Latest Stock Market Buzzers

TransGlobe Energy Corporation Announces Second Quarter 2019 Financial and Operating Result

This discover incorporates insider info as defined in Article 7 of Regulation 596/2014 ("MAR") on Market Abuse. Following the publication of this announcement, this insider info is now deemed to be public.

CALGARY, Alberta, August 12, 2019 (GLOBE NEWSWIRE) – AIM & TSX: "TGL" and NASDAQ: "TGA". TransGlobe Energy Corporation (“TransGlobe” or “Company”) is pleased to announce its monetary outcomes for the three and six months ended June 30, 2019. All dollar values ​​are expressed in US dollars until in any other case said. TransGlobe's condensed consolidated interim report and related notes, as well as the dialogue and evaluation of TransGlobe management for the three- and six-month durations ended June 30, 2019 and 2018, are available on the TransGlobe Site at www.trans-globe.com.

Highlights:

  • Second quarter manufacturing averaged 16,940 boe / d (Egypt 14,663 bb / day, Canada 2,277 boe / d), progress 1,zero16 boe / d (6%) compared to earlier quarter and common sales of 15 973 barrels / d. July production averaged 16,788 boe / d (Egypt 14,613 bb / d, Canada 2,175 boe / d);
  • Six-month manufacturing ended June 30, 2019 averaging 16,436 boe / d (Egypt 14,143 bb / d, Canada 2,293 boe / d), which was greater than the benchmark and 17% greater than the corresponding interval in 2018;
  • Production control for 2019 was elevated by 1,000 boe / d (7%) and is now anticipated to be in the range of 15,000-16,000 boe / d for the complete yr 2019 (15,500 boe / d midway);
  • Constructive second quarter fund flows are $ 19.1 million ($ zero.26 per share). Second-quarter internet revenue was $ 10.0 million ($ zero.14 per share);
  • ended the second quarter with $ 54.1 million in constructive working capital, together with $ 34.1 million in cash and cash equivalents;
  • drilled two developmental oil wells in Egypt (H-30 and Okay-63);
  • two exploration wells have been drilled in Egypt, leading to one oil outlet (HW-2X) and one encapsulated potential oil supply (NWG 38 D-1);
  • canceled the South Alamein concession, which was utterly impaired in Q1-2019;
  • was authorised by the South Ghazalat Improvement Lease Agreement from EGPC and the Ministry of Petroleum for the primary oil of about 1000bb / day earlier than the top of 2019;
  • paid a dividend of $ 0.035 per share. April 18, 2019 to shareholders whose document number was March 29, 2019;
  • After the quarter, the corporate declared a dividend of $ zero.035 per share, and was paid to shareholders on September 13, 2019, on August 30, 2019.

FINANCIAL AND OPERATING RESULTS
($ 000, excluding share, worth, proportion change)

Three months ended June 30, six months, June 30. Financial 2019 2018 % change 2019 2018 % change petroleum and natural fuel sales 81 123 99 220 [19659035] (18 ) 150340 152171 (1 ) Sales of petroleum and pure fuel minus royalties 43,071 68,454 (37) ) ] 80423 93169 (14 ) [19659032] Realized by-product loss on commodity contracts [7065659026] ) (5,781 ) 88 [196590135] . (929 ) (5,899 ) 84 unrealized by-product achieve (loss) . commodity contracts 1,773 (10816 ) 116 (3001 ]) (16,862 ) 82 production and working costs 12,410 ] 17,299 ] (28 ) 23943 27940 ] (14 ) promoting bills 98 1080 (91 ) ). 573 1,126 (49 ) [yleiset ja hallinnolliset kulut]] 3774 7, 583 (50 ) 8641 [19659080] 11579 [19659018] (25 ) removals, removals and removals 9 245 [19659026] 10,478 . ] (12 ) 18011 17326 4 [19659032] revenue tax expenditures 7,476 6,785 10 1345] 19659068] 12,804 7 working cash stream 22,125 . 19659018] [19659033] 18886 17 9054 11731 ] [19659018] (23 ) Belongings come from operations1 19 116 33,499 . 43 ) 34271 37422 (8 ) [19659296] per share / share zero.26 zero.46 zero.47