TransGlobe Energy Corporation provides an update on the Company's Executive succession and Board of Directors transition plan.

EXECUTIVE MANAGEMENT SUCCESSION

Ross Clarkson will retire as the Company’s Chief Executive Officer (“CEO”) effective December 31, 2018.  Randall (Randy) Neely, TransGlobe’s current President, will assume the role of President and CEO.  Mr. Clarkson will remain with the Company as a Non-Executive Director. Both Mr. Clarkson and Mr. Neely intend to stand for re-election to the Board of Directors at the 2019 AGM.

With the transition of Executive leadership to Randy Neely at year end, the Company acknowledges the tremendous contribution made by Ross over the past twenty plus years as a founder and builder of TransGlobe.

Mr. Rob Jennings, Non-Executive Chairman of TransGlobe Energy commented:
“Ross built a team of professionals and together executed a strategy that saw the Company grow from a small Canadian base to a focused international petroleum company.

On behalf of the Board, Management and the shareholders, the Company wishes Ross well in his much deserved retirement from executive duties.”

CHANGES TO THE BOARD OF DIRECTORS

Appointment of Dr. Carol Bell
The Company is pleased to announce the appointment Dr. Carol Bell of London, England as an Independent Non-Executive Director effective January 1, 2019.

Dr. Bell (age 60) is an independent businesswoman and corporate director with over 35 years of experience in the natural resources sector.  Dr. Bell has experience as a director on companies listed in Canada, Norway and the UK, bringing a wealth of capital markets and energy board experience to her role at TransGlobe.

Dr. Bell’s successful career includes her position as Managing Director of Chase Manhattan Bank’s Global Oil & Gas Group, Head of European Equity Research at JP Morgan and several years as an equity research analyst in the oil and gas sector at Credit Suisse First Boston and UBS Phillips & Drew. Dr. Bell began her career in corporate planning and business development at Charterhouse Petroleum plc and RTZ Oil and Gas.

Dr. Bell holds a MA Natural Sciences from Cambridge University; a BA, Earth Sciences from Open University; and a PhD, Archaeology of Trade from University College London.

Retiring Director, Mr. Fred Dyment
As part of the Company’s Board of Directors transition plan, Mr. Fred Dyment has chosen to retire from the Board effective January 1, 2019. Mr. Dyment is a long serving director who joined TransGlobe on February 10, 2004. During his time with TransGlobe, Mr. Dyment chaired the Audit Committee until May of 2018. Mr. Dyment has been a key member of the Board and, along with senior management, helped steward the Company through a number of challenging times such as the financial crisis of 2009, Arab Spring and world oil price volatility. The Board and Company wish to thank Mr. Dyment for his valuable contributions and wish him much health and happiness in the future.

Mr. Rob Jennings commented:
“The entire Board, Management and Employees will miss Fred. He has been a strong, positive contributor to the Company in so many ways over a period which saw the Company actively expand in various jurisdictions. We will miss him and extend our sincere gratitude and very best wishes for years to come.

We are extremely pleased to welcome Dr. Bell to the Board as she brings a wealth of experience across finance, capital markets and M&A, the oil and gas sector and international exploration and development. Dr. Bell joins TransGlobe at an opportune time as the Company continues to execute on its strategy of building a diversified, profitable and cash flow focused international portfolio.”