11:55 AM EST - TransGlobe Energy Corporation : announced its financial and operating results for the year ended December 31, 2011. All dollar values are expressed in United States dollars unless otherwise stated. Production increased to 12,132 barrels of oil per day ("Bopd") from an average 9,960 Bopd in 2010, a growth rate of 22%. Funds flow from operations increased to $120.0 million ($1.60/share diluted) based on average Brent oil pricing of $111.27 in 2011 from $75.5 million in 2010, a growth rate of 59%. Net earnings increased to $81.4 million ($1.09/share diluted) including a $13.2 million ($0.18/share diluted) gain on the West Bakr acquisition. Net earnings increased 101% from $40.6 million in 2010. TransGlobe Energy Corporation
shares T.TGL are trading up $0.14 at $11.45.
