BRIEF-TransGlobe Energy Q1 FFO per share $0.04

Thu May 12, 2016 6:38am EDT
 
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May 12 (Reuters) - Transglobe Energy Corp

* Says Q1 production averaged 12,058 bopd

* Qtrly oil revenue $29 million versus $54.3 million

* Qtrly FFO per share $0.04

* Qtrly loss per share $0.23

* Co preparing production recovery plan to reinstate curtailed/shut-in production,development projects delayed due to low oil prices

* Production recovery plan is targeting Q4 of 2016, when oil prices are anticipated to strengthen

* Expected that Q2-2016 production will average approximately 10,800 bopd

* 2016 capital program of $41.0 million has $22.3 million (54%) allocated to exploration and $18.7 million (46%) to development

* TransGlobe Energy Corporation announces first quarter 2016 financial and operating results Source text for Eikon: Further company coverage: (Bengaluru Newsroom: +1 646 223 8780)