Stocks in play: TransGlobe Energy Corporation

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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