TG World Energy Corp.
TSX VENTURE : TGE

TG World Energy Corp.

December 08, 2009 05:45 ET

TG World Reports Niger Security Warning Lifted in Agadez Region-Re-Commencement of Drilling Program Being Assessed

- China National Petroleum Company subsidiary assessing commencement of drilling on Tenere Block

- TG World is carried for the next well drilled in the Block

CALGARY, ALBERTA--(Marketwire - Dec. 8, 2009) - TG World Energy Corp. (TSX VENTURE:TGE) ("TG World" or the "Company") has been advised by the Operator of the Ténéré Block in Niger, Africa, CNPC International (Ténéré) Ltd. ("CNPCIT" or the "Operator"), a unit of the China National Petroleum Company, that the Security Warning that has prevented any drilling in the Ténéré Block for the past two years has been lifted.

In recent press, it has been reported that "The President, Chief of State, his Excellency Monsieur Mamadou Tandja signed a decree putting an end to the warning in the Agadez region. The terms of the decree put an end to the warning for the region of Agadez effective November 27, 2009".

Cliff James, President and CEO of TG World, commented that "TG World is pleased to learn that the security warning has finally been lifted, which will permit operations, including drilling, to resume. Our project operator has continued to drill and make discoveries on lands they hold in the prolific Agadem Block located to the south of the Ténéré Block. We are very encouraged by CNPCIT's success in the Agadem Block and hope that this success continues into our northern rift basin Block with the drilling of our next well."

In November 2007, the drilling program of CNPCIT and TG World was delayed due to the security warning that was imposed in the area. TG World is to be carried for a third drilling location in the Ténéré Block. At the time of the security warning, the partners had intended to drill Facai – 1, to a depth of 3,700 metres, to test a new Cretaceous Play. The proposed well location is 100 km north of the two 2007 wells drilled on the Ténéré Block and is situated in the Northeast sector of the Ténéré Rift Basin.

TG World is awaiting further news from CNPCIT with regards to when and where the next well will be drilled. Further information will be released by TG World, subsequent to receiving such details.

Corporate Profile

TG World is a Calgary-based, junior international oil and gas exploration company currently focused on Alaska and Niger.

TG World Petroleum Limited (a 100% owned subsidiary of TG World) holds a 20% carried interest in the Ténéré Block, an oil and gas concession in the Republic of Niger, Africa, measuring 71,155 square kilometres (17.3 million acres). The Ténéré Block contains the northern half of the Termit - Ténéré Rift. The southern half of this rift is located in the adjacent Agadem Block, where nine oil discoveries and one gas discovery have been announced. CNPCIT, a unit of China National Petroleum Company, holds the other 80% of the Ténéré concession and acts as operator of the project.

TG World Energy Inc., a wholly-owned subsidiary of TG World, is also involved in a joint venture with AVCG, Ramshorn Investments Inc. and Dana Petroleum PLC. The joint venture is operated by BRPC and was formed as an exploration strategic alliance covering a large area of mutual interest on the Alaskan Central North Slope. The joint venture may drill up to three wells on the Alaska North Slope in 2010.

Certain information set out in this News Release constitutes forward-looking information. Forward-looking statements are often, but not always, identified by the use of words such as "seek", "anticipate", "plan", "continue", "estimate", "expect", "may", "will", "intend", "could", "might", "should", "believe" and similar expressions. Forward-looking statements are based upon the opinions and expectations of management of the Company as at the effective date of such statements and, in some cases, information supplied by third parties. Although the Company believes that the expectations reflected in such forward-looking statements are based upon reasonable assumptions and that information received from third parties is reliable, it can give no assurance that those expectations will prove to have been correct. Forward-looking statements are subject to certain risks and uncertainties that could cause actual events or outcomes to differ materially from those anticipated or implied by such forward-looking statements. These factors include, but are not limited to, such things as general economic conditions in Canada, the United States and elsewhere, the volatility of prices for oil and gas and other commodities, commodity supply and demand, fluctuations in currency and interest rates, inherent risks associated with the exploration of oil and gas properties (including mechanical problems), ultimate recoverability of reserves, timing, results and costs of exploration and development activities, political or civil unrest, availability of financial resources or third-party financing, availability of equipment and personnel and new laws and regulations (domestic and foreign). Accordingly, readers should not place undue reliance upon the forward-looking statements contained in this News Release and such forward-looking statements should not be interpreted or regarded as guarantees of future outcomes. Forward-looking statements respecting anticipated exploration activities are based upon the results of prior exploration activities, the status of TG World's discussions with its partners as to the nature and extent of the exploration programs and the current budget for exploration activities (which is subject to change). Forward-looking statements of TG World Energy Corp. contained in this News Release are expressly qualified, in their entirety, by this cautionary statement. Additional information relating to various risk factors to which TG World is exposed in the conduct of its business (and which may affect the expectations or outcomes reflected in the forward-looking statements contained in this News Release) are described in publicly available documents filed by TG World with certain securities regulatory authorities in Canada, which are available through SEDAR at www.SEDAR.com.

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.

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