TG World Energy Corp.
TSX VENTURE : TGE

TG World Energy Corp.

November 26, 2008 16:34 ET

CORRECTION FROM SOURCE: TG World Provides Corporate Update

CALGARY, ALBERTA--(Marketwire - Nov. 26, 2008) - TG World Energy Corp. (TSX VENTURE:TGE) ("TG World" or the "Company") issues a correction from source in respect to the news release that was disseminated for the Company today at 11:27 a.m. eastern time. The amount that TG World currently has in its treasury should have read CAD$15.7 million, rather than the CAD$14.7 million that was previously stated. The reimbursement amount that TG World has applied, or is applying, for from the State of Alaska's Petroleum Production Tax program remains unchanged at CAD$10.2 million.

The online version of the news release has been updated to reflect the appropriate dollar value and this document can be accessed on the TG World website at www.tgworldenergy.com.

Corporate Profile

TG World is a Calgary-based, junior international oil and gas exploration company. On March 18, 2006, TG World Energy Inc., a wholly-owned subsidiary of TG World, entered into a major exploration project through the formation of a joint venture with Brooks Range Petroleum Corp. The BRPC / TG World Joint Venture was formed as an exploration strategic alliance covering a large area of mutual interest on the Alaskan Central North Slope. Through a wholly-owned subsidiary, the Company's interest in the Alaska Joint Venture includes a 25 - 35% working interest in approximately 335,000 gross acres of lease lands and an Area of Mutual Interest under which additional lands may be acquired.

Through a wholly-owned subsidiary, TG World holds a 20% carried interest in the Tenere Block, an oil and gas concession in the Republic of Niger, Africa, measuring 71,155 square kilometres (17.3 million acres). The Tenere Block contains the northern half of the Termit - Tenere Rift. The southern half is adjacent to the Agadem Block, where six oil discoveries and one gas discovery have been announced. CNPCIT, a unit of CNPC, holds the other 80% of the Tenere concession and acts as operator of the project.

The TSX Venture Exchange has neither approved nor disapproved the contents of this news release and the TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this news release.

Contact Information

  • TG World Energy Corp.
    Clifford M. James
    President and CEO
    (403) 265-4506
    or
    TG World Energy Corp.
    Paul Moon
    Director, Corporate Communications
    (403) 265-4506
    Website: www.tgworldenergy.com