10:08 TGA: Shifting toward Egypt, away from Yemen.
Co reports in Egypt, during the first quarter, six oil wells were drilled; two Upper Nukhul wells and four dual Nukhul wells. In addition, two drilling rigs are currently drilling at West Gharib, primarily focused on the Nukhul formation. It is expected that up to 44 wells could be drilled in West Gharib during 2011, primarily focused on the Nukhul formation. During March, the Company has completed three Lower Nukhul and two Upper Nukhul oil wells. March production to-date has averaged approximately 9,100 barrels of oil per day representing a 12% increase from February production of 8,133 Bopd. In Yemen, co reports the oil export pipeline from Marib to the Ras Eisa port on the Red Sea is currently shut down. Production from TransGlobe's An Nagyah field on Block S-1 is shut-in until repairs to the export pipeline can be completed. The pipeline was damaged by an explosion and a local tribal group is preventing repair crew access to the pipeline because of a dispute with the government. Co reports it is difficult to predict when production will resume.
Focus Focus Focus Focus !!!!
