Insider Report for Arthur Bell
Data courtesy of the System for Electronic Disclosure by Insiders
http://www.sedi.ca/

Transactions sorted by	: Insider
Insider family name	: bell ( Starts with )
Given name	: arthur ( Starts with )
Filing date range	: March 24, 2005 - March 24, 2005
Equity securities	: Common Shares
Issuer derivatives	: Options

Insider name:	BELL, Arthur William Edward
Legend:	O - Original transaction, A - First amendment to transaction, A' - Second amendment to transaction, AP - Amendment to paper filing, etc.
	Insider's Relationship to Issuer: 1 - Issuer, 2 - Subsidiary of Issuer, 3 - 10% Security Holder of Issuer, 4 - Director of Issuer, 5 - Senior Officer of Issuer, 6 - Director or Senior Officer of 10% Security Holder, 7 - Director or Senior Officer of Insider or Subsidiary of Issuer (other than in 4,5,6), 8 - Deemed Insider - 6 Months before becoming Insider.
Warning:	The closing balance of the " equivalent number or value of underlying securities" reflects the" total number or value of underlying securities" to which the derivative contracts held by the insider relate. This disclosure does not mean and should not be taken to indicate that the underlying securities have, in fact, been acquired or disposed of by the insider.

Transaction ID

Date of transaction YYYY-MM-DD

Date of filing YYYY-MM-DD

Ownership type (and registered holder, if applicable)

Nature of transaction

Number or value acquired or disposed of

Unit price or exercise price

Closing balance

Insider's calculated  balance

Conversion or exercise  price

Date of expiry ormaturity YYYY-MM-DD

Underlying security designation

Equivalent number or value of underlying securities acquired or disposed of

Closing balance of equivalent number or value of underlying securities

Issuer name:  TransGlobe Energy Corporation

Insider's Relationship to Issuer: 8 - Deemed Insider - 6 Months before becoming Insider

Security designation: Options (Common Shares)

447045

2005-03-17

2005-03-24

Direct Ownership :

50 - Grant of options

+30,000

7.7400

180,000

2010-03-17

Common Shares

+30,000

180,000