MATERIAL CHANGE REPORT

1.	Name and Address of Company
	TransGlobe Energy Corporation ("TransGlobe" or the "Company")
	Suite 2500, 605 - 5th Avenue, S.W.
	Calgary, AB, T2P 3H5
	Tel: (403) 264-9888 Fax: (403) 264-9898
2.	Date of Material Change
	December 16, 2008
3.	News Release
	A news release dated December 16, 2008, disclosing in detail the material summarised in this material change report was disseminated through the facilities of Marketwire (Canada and U.S. disclosure package) on December 16, 2008 and would have been received by the securities commissions where the Company is a "reporting issuer" and the stock exchanges on which the securities of the Company are listed and posted for trading in the normal course of their dissemination.
4.	Summary of Material Change
	On December 16, 2008, TransGlobe announced its mid-quarter production and operations update for the fourth quarter of 2008.
5.	Full Description of Material Change
	See the attached news release.
6.	Reliance on Subsection 7.1(2) or (3) of National Instrument 51-102
	Not Applicable
7.	Omitted Information
	Not Applicable
8.	Executive Officers
	For further information, please contact Ross G. Clarkson, President and Chief Executive Officer, by telephone at (403) 264-9888 or by facsimile (403) 264-9898.
9.	Date of Report
	December 16, 2008