TG World Energy Corp.
TSX VENTURE : TGE

TG World Energy Corp.

January 26, 2010 14:19 ET

TG World and Partners Spud Sak River #1a Exploration Well on Alaska North Slope

CALGARY, ALBERTA--(Marketwire - Jan. 26, 2010) - TG World Energy Corp. (TSX VENTURE:TGE) ("TG World" or the "Company") is pleased to announce that Nabors 16E rig spudded the Sak River #1a exploration well on the Alaska Central North Slope on January 26, 2010. The well is being drilled from an onshore ice pad to an offshore bottom hole location. The suspended Sak River #1 well has been re-entered and a new hole will be drilled after the cement plug at the base of the surface casing set to 4,225 feet has been drilled-out. The well is expected to reach total depth of approximately 12,500 feet in February. Brooks Range Petroleum Corporation ("BRPC"), a wholly-owned subsidiary of the Alaska Venture Capital Group, is operator of the well and Ramshorn Investments Inc. is the other joint venture ("JV") partner.

The Sak River #1a well will test a Kuparuk formation exploration prospect identified by proprietary 3-D seismic data. The prospect is located within the JV's Beechey Point Unit ("Unit"), which includes the undeveloped North Shore #1 and Pete's Wicked oil discoveries. A Sak River #1a discovery would likely be developed in conjunction with the existing oil discoveries. TG World will pay 45.7% of the well costs to participate for its 35% working interest in the Unit.

Further details regarding the 2010 winter exploration program are provided in the TG World corporate presentation available on the company's website at www.tgworldenergy.com. 

Corporate Profile

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

TG World Energy Inc. (a wholly owned subsidiary of TG World) is partnered with operator Brooks Range Petroleum Corp., Alaska Venture Capital Group and Ramshorn Investments Inc. in a joint venture that is pursuing oil and gas opportunities on the Central North Slope of Alaska. The joint venture has oil and gas activities in three geographical areas in Alaska: Slugger/South Thomson, Tofkat and the Beechey Point Unit, which borders the Prudhoe Bay oil development area. The joint venture intends to drill wells in the Beechey Point Unit this winter drilling season.

TG World Petroleum Limited (a wholly-owned subsidiary of TG World) is partnered with operator CNPCIT, a unit of the China National Petroleum Company, in the Ténéré Block oil and gas concession in the Republic of Niger, Africa. The Company has a 20% carried interest in the Ténéré Block, which contains the northern half of the Termit - Ténéré Rift, a large rift valley basin in the country. The southern half of this rift is located in the adjacent Agadem Block, where the Chinese National Petroleum Company holds several oil and gas discoveries. A security warning has recently been lifted in the Ténéré Block area and the operator is considering alternatives for potential drilling.

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 and potential development activities in TG World's areas of operation 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 and development activities (all of which are 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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