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Exploration/Development Briefs
11/28/2011
Egypt
TransGlobe Energy Corp., Calgary, plans to appraise the Boraq oil and gas discovery and further explore the 558,120-acre South Alamein concession in Egypt's Western Desert after it receives regulatory approval to close the acquisition of a 50% interest from Cepsa Egypt.
The Boraq-2X well tested a combined 1,700 b/d of 38-40° gravity oil from two Cretaceous zones. The concession, which covers parts of the Alamein and Tiba basins, is fully covered by 3D seismic from which a number of well-defined prospects have been identified. El Paso South Alamein holds the other 50% interest in the concession.
TransGlobe plans to submit a revised budget and Boraq development plan after the transact...
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