December 16, 2008 / 1:17 PM / 10 years ago

UPDATE 1-Transglobe: 2008 production to exceed 7,400 boe/d

Dec 16 (Reuters) - Oil and gas exploration and production company Transglobe Energy Corp (TGL.TO) (TGA.O) expects its 2008 average production to exceed 7,400 barrels of oil equivalent per day (boe/d).

The company, which said November production in its Yemeni properties was fell from the preceding month due to unscheduled maintenance work and natural declines at two fields, had earlier forecast 2008 production to average between 7,450 and 7,650 boe/d.

Transglobe, which has properties in the Middle East and North Africa, expects December production from Egypt to average 4,100 boe/d, compared with an average of 3,294 boe/d in November.

The company’s fields in Yemen produced an average of 3,551 boe/d in November, compared with 3,776 boe/d in October. Transglobe expects December production to average at 3,600 boe/d.

Shares of the company closed at C$2.78 Monday on the Toronto Stock Exchange. (Reporting by Arup Roychoudhury in Bangalore; Editing by Pratish Narayanan)

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