Intrinsic value of TransGlobe Energy - TGA

Previous Close

$2.15

  Intrinsic Value

$0.58

stock screener

  Rating & Target

str. sell

-73%

Previous close

$2.15

 
Intrinsic value

$0.58

 
Up/down potential

-73%

 
Rating

str. sell

We calculate the intrinsic value of TGA stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

STOCK VALUATION INPUT DATA

Revenue (in 0001), $M
Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Variable cost ratio, %
Fixed operating expenses, $M
Interest rate on debt, %
Effective corporate tax rate, %
Production assets / Revenue, %
Life of production assets, yrs
Working capital / Revenue, %
Revenue / Adjusted assets
Adjusted equity ratio
Cash flow adjustment, % of Revenue
Book value of equity, $M
Shares outstanding, mln
Market capitalization, $bln 0.2

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
   2
   3
   4
   5
   6
   7
   8
   9
   10
   11
   12
   13
   14
   15
   16
   17
   18
   19
   20
   21
   22
   23
   24
   25
   26
   27
   28
   29
   30
   31

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  60.00
  54.50
  49.55
  45.10
  41.09
  37.48
  34.23
  31.31
  28.68
  26.31
  24.18
  22.26
  20.53
  18.98
  17.58
  16.32
  15.19
  14.17
  13.26
  12.43
  11.69
  11.02
  10.42
  9.87
  9.39
  8.95
  8.55
  8.20
  7.88
  7.59
Revenue, $m
  238
  367
  549
  797
  1,124
  1,546
  2,075
  2,724
  3,506
  4,428
  5,498
  6,722
  8,103
  9,641
  11,336
  13,186
  15,189
  17,342
  19,641
  22,082
  24,663
  27,380
  30,232
  33,217
  36,335
  39,587
  42,973
  46,496
  50,159
  53,966
Variable operating expenses, $m
  184
  282
  420
  607
  855
  1,174
  1,575
  2,067
  2,658
  3,356
  4,163
  5,089
  6,134
  7,299
  8,582
  9,983
  11,500
  13,129
  14,870
  16,718
  18,672
  20,729
  22,888
  25,148
  27,509
  29,970
  32,534
  35,201
  37,975
  40,857
Fixed operating expenses, $m
  75
  76
  78
  80
  81
  83
  85
  87
  89
  91
  93
  95
  97
  99
  101
  103
  106
  108
  110
  113
  115
  118
  120
  123
  126
  129
  131
  134
  137
  140
Total operating expenses, $m
  259
  358
  498
  687
  936
  1,257
  1,660
  2,154
  2,747
  3,447
  4,256
  5,184
  6,231
  7,398
  8,683
  10,086
  11,606
  13,237
  14,980
  16,831
  18,787
  20,847
  23,008
  25,271
  27,635
  30,099
  32,665
  35,335
  38,112
  40,997
Operating income, $m
  -21
  9
  51
  110
  188
  288
  415
  571
  759
  981
  1,243
  1,538
  1,871
  2,243
  2,652
  3,100
  3,584
  4,105
  4,661
  5,251
  5,876
  6,533
  7,223
  7,946
  8,701
  9,488
  10,308
  11,160
  12,047
  12,969
EBITDA, $m
  39
  100
  185
  302
  457
  657
  908
  1,217
  1,589
  2,028
  2,539
  3,122
  3,781
  4,515
  5,324
  6,207
  7,163
  8,191
  9,289
  10,455
  11,688
  12,985
  14,348
  15,774
  17,263
  18,817
  20,434
  22,117
  23,867
  25,686
Interest expense (income), $m
  5
  6
  11
  20
  31
  47
  68
  95
  129
  170
  220
  279
  348
  426
  514
  612
  721
  839
  967
  1,105
  1,252
  1,408
  1,573
  1,746
  1,929
  2,119
  2,319
  2,527
  2,743
  2,968
  3,202
Earnings before tax, $m
  -27
  -3
  32
  79
  141
  220
  320
  442
  588
  761
  964
  1,191
  1,446
  1,729
  2,040
  2,379
  2,745
  3,138
  3,556
  4,000
  4,468
  4,961
  5,477
  6,017
  6,581
  7,169
  7,781
  8,417
  9,079
  9,767
Tax expense, $m
  0
  0
  9
  21
  38
  59
  86
  119
  159
  205
  260
  321
  390
  467
  551
  642
  741
  847
  960
  1,080
  1,206
  1,339
  1,479
  1,625
  1,777
  1,936
  2,101
  2,273
  2,451
  2,637
Net income, $m
  -27
  -3
  23
  57
  103
  161
  234
  323
  430
  555
  704
  869
  1,055
  1,262
  1,489
  1,737
  2,004
  2,290
  2,596
  2,920
  3,262
  3,621
  3,998
  4,393
  4,804
  5,233
  5,680
  6,145
  6,628
  7,130

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  496
  767
  1,147
  1,664
  2,347
  3,227
  4,332
  5,688
  7,319
  9,244
  11,479
  14,034
  16,916
  20,127
  23,665
  27,528
  31,710
  36,205
  41,004
  46,100
  51,488
  57,161
  63,115
  69,347
  75,857
  82,645
  89,714
  97,069
  104,716
  112,665
Adjusted assets (=assets-cash), $m
  496
  767
  1,147
  1,664
  2,347
  3,227
  4,332
  5,688
  7,319
  9,244
  11,479
  14,034
  16,916
  20,127
  23,665
  27,528
  31,710
  36,205
  41,004
  46,100
  51,488
  57,161
  63,115
  69,347
  75,857
  82,645
  89,714
  97,069
  104,716
  112,665
Revenue / Adjusted assets
  0.480
  0.478
  0.479
  0.479
  0.479
  0.479
  0.479
  0.479
  0.479
  0.479
  0.479
  0.479
  0.479
  0.479
  0.479
  0.479
  0.479
  0.479
  0.479
  0.479
  0.479
  0.479
  0.479
  0.479
  0.479
  0.479
  0.479
  0.479
  0.479
  0.479
Average production assets, $m
  387
  597
  893
  1,296
  1,828
  2,513
  3,374
  4,430
  5,700
  7,200
  8,940
  10,931
  13,175
  15,676
  18,432
  21,441
  24,698
  28,198
  31,936
  35,905
  40,101
  44,520
  49,157
  54,011
  59,081
  64,368
  69,874
  75,602
  81,559
  87,749
Working capital, $m
  5
  8
  12
  17
  24
  32
  44
  57
  74
  93
  115
  141
  170
  202
  238
  277
  319
  364
  412
  464
  518
  575
  635
  698
  763
  831
  902
  976
  1,053
  1,133
Total debt, $m
  140
  242
  386
  581
  840
  1,172
  1,590
  2,102
  2,719
  3,447
  4,291
  5,257
  6,347
  7,560
  8,898
  10,358
  11,939
  13,638
  15,452
  17,378
  19,415
  21,559
  23,810
  26,165
  28,626
  31,192
  33,864
  36,644
  39,535
  42,540
Total liabilities, $m
  188
  290
  433
  629
  887
  1,220
  1,637
  2,150
  2,766
  3,494
  4,339
  5,305
  6,394
  7,608
  8,945
  10,406
  11,987
  13,685
  15,499
  17,426
  19,462
  21,607
  23,857
  26,213
  28,674
  31,240
  33,912
  36,692
  39,583
  42,587
Total equity, $m
  309
  477
  713
  1,035
  1,460
  2,007
  2,694
  3,538
  4,552
  5,750
  7,140
  8,729
  10,522
  12,519
  14,720
  17,123
  19,724
  22,519
  25,504
  28,674
  32,025
  35,554
  39,257
  43,134
  47,183
  51,405
  55,802
  60,377
  65,134
  70,078
Total liabilities and equity, $m
  497
  767
  1,146
  1,664
  2,347
  3,227
  4,331
  5,688
  7,318
  9,244
  11,479
  14,034
  16,916
  20,127
  23,665
  27,529
  31,711
  36,204
  41,003
  46,100
  51,487
  57,161
  63,114
  69,347
  75,857
  82,645
  89,714
  97,069
  104,717
  112,665
Debt-to-equity ratio
  0.450
  0.510
  0.540
  0.560
  0.580
  0.580
  0.590
  0.590
  0.600
  0.600
  0.600
  0.600
  0.600
  0.600
  0.600
  0.600
  0.610
  0.610
  0.610
  0.610
  0.610
  0.610
  0.610
  0.610
  0.610
  0.610
  0.610
  0.610
  0.610
  0.610
Adjusted equity ratio
  0.622
  0.622
  0.622
  0.622
  0.622
  0.622
  0.622
  0.622
  0.622
  0.622
  0.622
  0.622
  0.622
  0.622
  0.622
  0.622
  0.622
  0.622
  0.622
  0.622
  0.622
  0.622
  0.622
  0.622
  0.622
  0.622
  0.622
  0.622
  0.622
  0.622

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  -27
  -3
  23
  57
  103
  161
  234
  323
  430
  555
  704
  869
  1,055
  1,262
  1,489
  1,737
  2,004
  2,290
  2,596
  2,920
  3,262
  3,621
  3,998
  4,393
  4,804
  5,233
  5,680
  6,145
  6,628
  7,130
Depreciation, amort., depletion, $m
  60
  91
  134
  192
  269
  368
  493
  646
  830
  1,048
  1,296
  1,584
  1,909
  2,272
  2,671
  3,107
  3,579
  4,087
  4,628
  5,204
  5,812
  6,452
  7,124
  7,828
  8,563
  9,329
  10,127
  10,957
  11,820
  12,717
Funds from operations, $m
  33
  88
  157
  249
  372
  529
  727
  969
  1,260
  1,603
  1,999
  2,453
  2,965
  3,534
  4,161
  4,844
  5,583
  6,377
  7,224
  8,123
  9,073
  10,073
  11,123
  12,220
  13,367
  14,562
  15,807
  17,102
  18,448
  19,847
Change in working capital, $m
  2
  3
  4
  5
  7
  9
  11
  14
  16
  19
  22
  26
  29
  32
  36
  39
  42
  45
  48
  51
  54
  57
  60
  63
  65
  68
  71
  74
  77
  80
Cash from operations, $m
  32
  85
  153
  244
  365
  520
  716
  955
  1,243
  1,583
  1,977
  2,428
  2,936
  3,502
  4,125
  4,805
  5,541
  6,332
  7,176
  8,072
  9,019
  10,016
  11,063
  12,158
  13,301
  14,494
  15,736
  17,028
  18,371
  19,767
Maintenance CAPEX, $m
  -35
  -56
  -87
  -129
  -188
  -265
  -364
  -489
  -642
  -826
  -1,043
  -1,296
  -1,584
  -1,909
  -2,272
  -2,671
  -3,107
  -3,579
  -4,087
  -4,628
  -5,204
  -5,812
  -6,452
  -7,124
  -7,828
  -8,563
  -9,329
  -10,127
  -10,957
  -11,820
New CAPEX, $m
  -144
  -211
  -296
  -403
  -532
  -685
  -860
  -1,056
  -1,270
  -1,500
  -1,741
  -1,990
  -2,244
  -2,501
  -2,756
  -3,009
  -3,257
  -3,500
  -3,738
  -3,970
  -4,196
  -4,418
  -4,637
  -4,854
  -5,070
  -5,287
  -5,506
  -5,728
  -5,956
  -6,191
Cash from investing activities, $m
  -179
  -267
  -383
  -532
  -720
  -950
  -1,224
  -1,545
  -1,912
  -2,326
  -2,784
  -3,286
  -3,828
  -4,410
  -5,028
  -5,680
  -6,364
  -7,079
  -7,825
  -8,598
  -9,400
  -10,230
  -11,089
  -11,978
  -12,898
  -13,850
  -14,835
  -15,855
  -16,913
  -18,011
Free cash flow, $m
  -148
  -181
  -230
  -288
  -355
  -430
  -509
  -590
  -669
  -742
  -807
  -858
  -893
  -909
  -903
  -875
  -823
  -748
  -648
  -526
  -381
  -214
  -27
  179
  404
  645
  901
  1,173
  1,458
  1,756
Issuance/(repayment) of debt, $m
  70
  102
  144
  195
  258
  333
  418
  513
  617
  728
  845
  966
  1,089
  1,214
  1,338
  1,460
  1,581
  1,699
  1,814
  1,927
  2,037
  2,144
  2,251
  2,356
  2,461
  2,566
  2,672
  2,780
  2,891
  3,005
Issuance/(repurchase) of shares, $m
  142
  171
  213
  264
  323
  386
  454
  521
  585
  642
  687
  720
  737
  735
  712
  666
  597
  505
  389
  250
  89
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash from financing (excl. dividends), $m  
  212
  273
  357
  459
  581
  719
  872
  1,034
  1,202
  1,370
  1,532
  1,686
  1,826
  1,949
  2,050
  2,126
  2,178
  2,204
  2,203
  2,177
  2,126
  2,144
  2,251
  2,356
  2,461
  2,566
  2,672
  2,780
  2,891
  3,005
Total cash flow (excl. dividends), $m
  64
  92
  127
  172
  226
  289
  362
  443
  533
  628
  724
  828
  934
  1,040
  1,146
  1,252
  1,355
  1,456
  1,555
  1,651
  1,745
  1,931
  2,224
  2,535
  2,864
  3,210
  3,573
  3,953
  4,349
  4,761
Retained Cash Flow (-), $m
  -142
  -171
  -236
  -322
  -425
  -547
  -687
  -843
  -1,014
  -1,198
  -1,390
  -1,589
  -1,792
  -1,997
  -2,201
  -2,403
  -2,601
  -2,795
  -2,985
  -3,170
  -3,351
  -3,529
  -3,703
  -3,877
  -4,049
  -4,222
  -4,397
  -4,575
  -4,757
  -4,944
Prev. year cash balance distribution, $m
  16
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash flow adjustment, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash available for distribution, $m
  -61
  -79
  -109
  -150
  -200
  -258
  -325
  -400
  -482
  -570
  -666
  -762
  -859
  -957
  -1,055
  -1,151
  -1,246
  -1,339
  -1,430
  -1,519
  -1,606
  -1,598
  -1,480
  -1,341
  -1,185
  -1,012
  -824
  -622
  -408
  -183
Discount rate, %
  4.30
  4.52
  4.74
  4.98
  5.23
  5.49
  5.76
  6.05
  6.35
  6.67
  7.00
  7.35
  7.72
  8.11
  8.51
  8.94
  9.39
  9.86
  10.35
  10.87
  11.41
  11.98
  12.58
  13.21
  13.87
  14.56
  15.29
  16.05
  16.86
  17.70
PV of cash for distribution, $m
  -59
  -72
  -95
  -123
  -155
  -187
  -220
  -250
  -277
  -299
  -316
  -325
  -327
  -321
  -310
  -293
  -271
  -247
  -220
  -193
  -166
  -133
  -97
  -68
  -46
  -30
  -18
  -10
  -4
  -1
Current shareholders' claim on cash, %
  50.3
  28.7
  17.9
  11.9
  8.4
  6.2
  4.7
  3.8
  3.1
  2.6
  2.2
  2.0
  1.8
  1.6
  1.5
  1.4
  1.3
  1.3
  1.3
  1.2
  1.2
  1.2
  1.2
  1.2
  1.2
  1.2
  1.2
  1.2
  1.2
  1.2

TransGlobe Energy Corporation is an oil exploration and production company. The Company's activities are concentrated in the Arab Republic of Egypt (Egypt). The Company conducts its operations through the Arab Republic of Egypt segment. The Company is primarily engaged in oil exploration, development, production and the acquisition of properties. It holds interests in various production sharing concessions (PSC) in Eastern Desert Egypt and Western Desert Egypt. Its blocks in Eastern Desert Egypt include West Gharib, which covers approximately 34,860 acres; West Bakr, covering over 11,600 acres; North West (NW) Gharib, covering approximately 162,000 acres; South East (SE) Gharib, which covers over 125,650 acres, and South West (SW) Gharib, covering approximately 48,310 acres. Its blocks in the Western Desert Egypt include South Alamein, covering approximately 335,830 acres; South Ghazalat, covering over 465,300 acres, and North West (NW) Sitra, covering approximately 480,850 acres.

FINANCIAL RATIOS  of  TransGlobe Energy (TGA)

Valuation Ratios
P/E Ratio -1.8
Price to Sales 2.4
Price to Book 0.5
Price to Tangible Book
Price to Cash Flow -155.3
Price to Free Cash Flow -2
Growth Rates
Sales Growth Rate -31.2%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate 66.7%
Cap. Spend. - 3 Yr. Gr. Rate -10.3%
Financial Strength
Quick Ratio 0
Current Ratio 0.2
LT Debt to Equity 2.1%
Total Debt to Equity 29.5%
Interest Coverage -14
Management Effectiveness
Return On Assets -19.1%
Ret/ On Assets - 3 Yr. Avg. -11.8%
Return On Total Capital -21.9%
Ret/ On T. Cap. - 3 Yr. Avg. -13.7%
Return On Equity -26.8%
Return On Equity - 3 Yr. Avg. -16.3%
Asset Turnover 0.1
Profitability Ratios
Gross Margin 35.9%
Gross Margin - 3 Yr. Avg. 50.7%
EBITDA Margin -64.1%
EBITDA Margin - 3 Yr. Avg. -30.8%
Operating Margin -89.1%
Oper. Margin - 3 Yr. Avg. -64.2%
Pre-Tax Margin -117.2%
Pre-Tax Margin - 3 Yr. Avg. -73%
Net Profit Margin -137.5%
Net Profit Margin - 3 Yr. Avg. -82.5%
Effective Tax Rate -17.3%
Eff/ Tax Rate - 3 Yr. Avg. 24.8%
Payout Ratio 0%

TGA stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the TGA stock intrinsic value calculation we used $148.572 million for the last fiscal year's total revenue generated by TransGlobe Energy. The default revenue input number comes from 0001 income statement of TransGlobe Energy. You may change it if you feel that it should be adjusted for some unusual circumstances that are not expected to be repeated in the future or if you already know (from interim financial statements, for example) that this year's revenue is going to be quite different.

Revenue growth rate. Forecasted future revenue growth rate is the most important input parameter for the intrinsic value calculation. Unlike other input parameters that are reasonably expected to be in line with their historic averages or their historic trends, the revenue growth rate by and large is a wild card: nobody really knows what the company's revenue will be in the future. Of course, the level of unpredictability is different for different industries (utility companies being the most predictable and, thus, less risky).
    We use three input parameters to forecast the revenue growth rate in our TGA stock valuation model: a) initial revenue growth rate of 60% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 4.3%, whose default value for TGA is calculated based on our internal credit rating of TransGlobe Energy, is applied to the cash flow expected to be received a year from now (well, actually, to be precise, in the financial year following the base year - the last year for which we have financial statements). For each consecutive year the discount rate is multiplied by the discount rate multiplier of 1.05, e.i. each year it increases by 5%. Feel free to change this number to correspond to your level of risk assessment of TransGlobe Energy.
    By the way, it is easy to set the discount rate to be constant (this would make comparison with other valuation models easier): just set the discount rate multiplier equal to 1 and chose the magnitude of the initial discount rate to your liking.

Variable cost ratio is the ratio of variable costs (i.e. costs that fluctuate with fluctuation of the volume of production) to the revenue expressed as a percentage. In the calculation of intrinsic value of TGA stock the variable cost ratio is equal to 78.5%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $73 million in the base year in the intrinsic value calculation for TGA stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 8.1% for TransGlobe Energy.

Corporate tax rate of 27% is the nominal tax rate for TransGlobe Energy. In reality, companies find ways to pay much less taxes than that or not to pay them at all.

Cash flow adjustment could be used for any adjustment the investor deems necessary. Most commonly we use this field to account for stock options-related effects in excess of what is reported on the company's income statement. The cash flow adjustment is expressed as a percentage of the revenue, and in the current valuation of the TGA stock is equal to 0%.

Production assets are the company's assets used for manufacturing products or provision of services. In the valuation model input table they are expressed as a percentage of revenue and for TGA are equal to 162.6%.

Life of production assets of 6.9 years is the average useful life of capital assets used in TransGlobe Energy operations. It is used to calculate yearly capital expenditures needed to keep these assets in good order - we call it the maintenance CAPEX.

Working capital is the difference between the company's current assets and liabilities. In the model we use the ratio of working capital to revenue, which for TGA is equal to 2.1%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $210.007 million for TransGlobe Energy - is used in calculation of the "floor" for intrinsic valuation based on the discounted cash flow (DCF) method. Even if the prospects are very bad for a company, its assets could always be sold now for their current fair market value.

Shares outstanding of 72.206 million for TransGlobe Energy is needed to calculate the intrinsic value of one share.

Market capitalization is used here only for reference purposes and as a quick check that the share price and the number of shares outstanding numbers are correct - something especially to be cognizant about at stock splits. So, the market capitalization of TransGlobe Energy at the current share price and the inputted number of shares is $0.2 billion.

RELATED COMPANIES Price Int.Val. Rating

COMPANY NEWS

▶ TransGlobe Energy Corporation: Holdings(s) in Company   [Nov-13-18 10:03AM  GlobeNewswire]
▶ Transglobe: 3Q Earnings Snapshot   [10:50AM  Associated Press]
▶ TransGlobe Energy Corporation to Host Earnings Call   [Aug-14-18 08:00AM  ACCESSWIRE]
▶ Transglobe: 2Q Earnings Snapshot   [05:08AM  Associated Press]
▶ TransGlobe Energy Corporation Announces Operations Update   [Jul-20-18 02:00AM  GlobeNewswire]
▶ TransGlobe Energy Corporation Announces Mid-Q2 2018 Update   [Jun-22-18 02:00AM  GlobeNewswire]
▶ Transglobe: 1Q Earnings Snapshot   [May-10-18 05:25AM  Associated Press]
▶ TransGlobe Energy Corporation Announces Operations Update   [Apr-27-18 02:00AM  GlobeNewswire]
▶ TransGlobe Energy Corporation to Host Earnings Call   [Mar-07-18 07:45AM  ACCESSWIRE]
▶ Transglobe reports 4Q loss   [05:53AM  Associated Press]
▶ TransGlobe Energy Corporation to Host Earnings Call   [Nov-09-17 08:10AM  ACCESSWIRE]
▶ Transglobe reports 2Q loss   [Aug-14-17 11:24PM  Associated Press]
▶ TransGlobe Energy Corporation Reports Voting Results   [May-11-17 06:48PM  Marketwired]
▶ Transglobe reports 1Q loss   [06:28AM  Associated Press]
▶ Transglobe reports 4Q loss   [Mar-07-17 07:18PM  Associated Press]
▶ IIROC Trade Resumption - TGL.DB   [Feb-10-17 08:44AM  PR Newswire]
▶ IIROC Trading Halt - TGL.DB   [08:33AM  PR Newswire]

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