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TransGlobe Energy Corporation Exercise of Share Plan Options and Director PDMR Dealings

CALGARY, Alberta, March 29, 2019 (GLOBE NEWSWIRE) -- TransGlobe Energy Corporation (“TransGlobe” or the “Company”) (AIM & TSX: “TGL” & NASDAQ: “TGA”) announces that on March 27, 2019 Mr. Randy Neely, President and Chief Executive Officer, exercised 50,000 New Common Shares of no-par value (“New Common Shares”) under the Company’s Stock Option Plan.

Name Position Status SOP Options Exercised Shares Retained in Own Name Shares Sold
Randy Neely President and Chief Executive Officer PDMR 50,000 50,000 NIL

Following this transaction, Mr. Neely’s total interest in TransGlobe shares is now as follows:

Name Shares Held Interest in Shares From Option Plan Resultant Total Interest % of Issued Share Capital
Randy Neely 103,000 50,000 153,000 0.2%

1 Details of PDMR
a) Name Randy Neely
2 Reason for the notification  
a) Position / status President and Chief Executive Officer
b) Initial notification / amendment Initial notification
3 Details of the issuer  
a) Name TransGlobe Energy Corporation
b) Legal Entity Identifier 549300QMNS6BDY8UUB03
4 Details of the transaction(s)  
a) Description of the financial instrument New Common Shares
b) Identification code ISIN for TransGlobe Energy Corporation Ordinary Shares: CA8936621066
c) Nature of the transaction Acquisition of Shares
d) Price(s) and volume(s) Price ($CDN) Volume
    $2.19 50,000
e) Aggregated information -  
  Aggregated volume - 50,000 New Common Shares
  Aggregated price $2.19 CDN per New Common Share
f) Date of the transaction March 27, 2019
g) Place of the transaction Outside a Trading Venue

Application has been made for 50,000 New Common Shares, which will rank pari passu with the existing Common Shares, to be admitted to trading on AIM (“Admission”). Admission is expected to occur on April 3, 2019.

Following Admission, the total number of voting rights in the Company will be 72,542,071 Common Shares. This number may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company.

This notification is made under article 19.1 of the Market Abuse Regulation ("MAR") and relates to exercising of nil-cost options to Persons Discharging Managerial Responsibilities ("PDMR") on March 27, 2019 under the Company’s Stock Option Plan (“SOP”) and to PDMRs buying shares. This announcement is made in accordance with Article 19.3 of MAR.

About TransGlobe

TransGlobe Energy Corporation is a cash flow focused oil and gas exploration and development company whose current activities are concentrated in the Arab Republic of Egypt and Canada. TransGlobe’s common shares trade on the Toronto Stock Exchange and the AIM market of the London Stock Exchange under the symbol TGL and on the NASDAQ Exchange under the symbol TGA.

For further information, please contact:

Investor Relations
Telephone: +1 403.264.9888
Email: investor.relations@trans-globe.com
Web site:  http://www.trans-globe.com
TransGlobe Energy   Via FTI Consulting
Randy Neely, President and Chief Executive Officer    
Eddie Ok, Chief Financial Officer  
Canaccord Genuity (Nomad & Joint Broker)   +44 (0) 20 7523 8000
Henry Fitzgerald-O'Connor    
James Asensio    
GMP First Energy (Joint Broker)   +44 (0) 207 448 0200
Jonathan Wright    
FTI Consulting (Financial PR)   +44 (0) 203 727 1000
Ben Brewerton    
Genevieve Ryan   transglobeenergy@fticonsulting.com

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