CEO Today Global Awards

55 www.ceotodaymagazine.com CEO Today Global Awards 2019 Canada RANDALL C. NEELY CEO of Transglobe Energy Corporation ABOUT RANDALL C. NEELY TransGlobe Energy Corporation is a Canadian-based, publicly-traded oil exploration and production company whose activities are concentrated in Egypt and Canada. The Company’s growth strategy is built on three pillars: Acquire/maintain high working interests and operatorship TransGlobe operates all of its properties in Egypt, providing control of the drilling pace and choice of locations. Diversified portfolio TransGlobe’s operations contain a multi-year inventory of drilling prospects that range from low-risk development wells to higher-risk, high-reward exploration locations. Prudent financial management TransGlobe’s objective is to fully fund its capital program with funds flow from operations. The Company utilizes debt as part of its capital structure within Company financial policies as reviewed by the Board of Directors. Harmattan is located approximately 80 kilometres north of Calgary, Alberta. This property produces oil and associated natural gas from the Cardium and Viking zones and liquids-rich natural gas from zones in the Lower Mannville and Rock Creek formations at vertical depths of 1,200 to 2,600 metres. The majority (88%) of the production from the area is operated by TransGlobe. TransGlobe owns a 100% working interest in a large oil battery and a compressor station where a majority of oil volumes are handled. All gas is delivered to a third party non-operated gas plant for processing. Canada - Harmattan TransGlobe re-entered Canada through acquisition of the Harmattan property in central Alberta; in December 2016 As at September 30, 2017, the Harmattan property represented 43,000 gross (38,000 net) acres of developed land and 44,000 gross (39,000 net) acres of undeveloped land. • Land Position: 77,000 net acres (87,000 gross acres) • Q3 2017 Production: ~2,600 Boepd1 (~57% liquids-weighted) • 2P Reserves: 21.3 MMBoe2 (62.9% liquids-weighted) • 45 net proved + probable horizontal locations assigned with an additional 100+ net horizontal locations identified by management.2, 3 Canadian Cardium Light Oil and Liquids-Rich Gas Production • The prolific Cardium formation has produced hydrocarbons in centralAlberta for over 60 years; there are currently ~10,000 producing wells (of which ~3,900 are horizontal wells) • Stable geopolitical environment • Favorable royalty and tax structure in current low price environment • Low historical operating costs (<$8.00/boe Cdn) • High quality light oil and liquids yielding attractive netbacks Acquisition Adds Low-Risk Development Upside • Well definedCardiumandEllerslie horizontal drilling locations provide for significant production and cash flow growth • Access to surplus infrastructure capacity to significantly grow production FIRM PROFILE Mr. Neely was appointed President and CEO of the Company in January 2019 and to the Board of Directors in May 2018. He was previously appointed as President in January 2018 and Vice President, Finance and CFO in May 2012. Mr. Neely has 25 years of experience in executive and financial roles, including CFO of Zodiac Exploration, CFOof Pearl (Blackpearl) Exploration & Production and CFO of Trident Exploration. Prior to working directly in the oil and gas industry, Mr. Neely spent three and a half years in investment banking with TD Securities and eight years with KPMG LLP.