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Stocks in play: TransGlobe Energy Corporation

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Announced its financial and operating results for the three months and year ended December 31, 2020. All dollar values are expressed in United States dollars. 2020 production averaged 13,425 boe/d (Egypt 11,147 bbls/d, Canada 2,278 boe/d), a decrease of 16% from 2019 primarily due to deferred well interventions in Egypt during low oil prices, the curtailed 2020 capital program and natural declines. 2020 net loss of $77.4 million ($1.07 per share), is inclusive of a $73.5 million non-cash impairment loss and a $0.2 million unrealized loss on derivative commodity contracts. The Company ended the year with positive working capital of $15.3 million, including cash and cash equivalents of $34.5 million. TransGlobe Energy Corporation shares T.TGL are trading down $0.05 at $2.13.

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