May 12 (Reuters) - Transglobe Energy Corp TGL.TO
* Says Q1 production averaged 12,058 bopd
* Qtrly oil revenue $29 million versus $54.3 million
* Qtrly FFO per share $0.04
* Qtrly loss per share $0.23
* Co preparing production recovery plan to reinstate
curtailed/shut-in production,development projects delayed due to
low oil prices
* Production recovery plan is targeting Q4 of 2016, when oil
prices are anticipated to strengthen
* Expected that Q2-2016 production will average
approximately 10,800 bopd
* 2016 capital program of $41.0 million has $22.3 million
(54%) allocated to exploration and $18.7 million (46%) to
development
* TransGlobe Energy Corporation announces first quarter 2016
financial and operating results
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