TransGlobe Energy Reports 38 Percent Increase in 2011 Year-End Reserves

TransGlobe Energy Corporation (TSX:TGL,NASDAQ:TGA) reported 38 percent increase in its 2011 year-end reserves.

As quoted in the press release:

TransGlobe’s total proved reserves increased 38 percent to 28.2 million barrels of oil (“MMBbl”) at December 31, 2011 from 20.5 MMBbl at December 31, 2010. This increase in proved reserves represents a production replacement in 2011 of 275 percent. The Company produced 4.4 MMBbl of reserves during 2011.

Click here to read the TransGlobe Energy (TSX:TGL) press release.