10/11/2012 05:12 EDT | Updated 12/11/2012 05:12 EST

TransGlobe reports seven per cent increase in quarterly production

CALGARY - TransGlobe Energy Corp. says third-quarter production increased seven per cent over the previous quarter to an average of 18,145 barrels of oil equivalent per day.

The company (TSX:TGL), with operations in Egypt and Yemen, said September production was 18,525 barrels per day and it's currently producing about 20,000.

TransGlobe says production in the West Gharib block in Egypt was shut in for about eight days in September and October because of an illegal labour protest.

The company's 2012 production targets are unchanged at between 17,000 and 18,600 barrels per day.

TransGlobe shares closed down three cents to $10.90 on the Toronto Stock Exchange on Thursday.