Tajzha Ventures Ltd.
TSX VENTURE : TJZ

Tajzha Ventures Ltd.

January 11, 2008 12:03 ET

Tajzha Ventures Ltd. Update on Kotcho Lake Well Operations

CALGARY, ALBERTA--(Marketwire - Jan. 11, 2008) - Tajzha Ventures Ltd. ("Tajzha") (TSX VENTURE:TJZ) has been advised by the operator of its Keg River prospect in Northeastern BC that a drilling rig has arrived at the well site. Camp and pre-drilling operations are underway and it is anticipated that drilling operations will commence within a few days. The well has been drilled and cased to within approximately fifty meters of the target Keg River formation. Drilling is expected to take 2-3 days followed by a period of testing of one week.

The surrounding area has numerous gas pools producing from the Slave Point formation, which overlies the very productive and highly permeable Pine Point reefs.

By participating in this test well, Tajzha will earn a 10% working interest in the exploration block consisting of approximately five sections of land. Tajzha will pay 11.67% of the costs of the test well to earn a 10% working interest in the well. Any subsequent wells in the exploration block will be on a straight-up working interest basis. Tajzha has the opportunity to participate in four additional exploration blocks on the same terms as the initial exploration block. Tajzha must participate in the first well on each option block to earn into the land in that block.

Tajzha has paid approximately $612,000 for costs incurred to date and also prepaid an additional $187,000 towards the final drilling and completion of the well.

ABOUT TAJZHA VENTURES LTD.

Tajzha Ventures Ltd. is a junior oil and natural gas company based in Calgary, Alberta with core operated properties located in the Davey Lake and Provost Areas, Alberta. Tajzha is also a participant in a drilling venture located in North-eastern British Columbia. Tajzha's Common Shares trade on the TSX Venture Exchange under the symbol "TJZ".

Certain statements in this material may be "forward-looking statements" including outlook on oil and gas prices, estimates of future production, estimated completion dates of acquisitions and construction and development projects, business plans for drilling and exploration, estimated amount and timing of capital expenditures and anticipated future debt levels and royalty rates. Information concerning reserves contained in this material may also be deemed forward-looking statements as such estimates involve the implied assessment that the resources described can be profitably produced in the future. These statements are based on current expectations, estimates and projections that involve a number of risks and uncertainties, which could cause actual results to differ from those anticipated by the Company.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • Tajzha Ventures Ltd.
    Ronnie D. Doman
    President
    (250) 246-4791
    or
    Tajzha Ventures Ltd.
    Terry O. Lashman
    Director
    (604) 684-7929 or 1-800-665-2454
    Website: www.tajzha.com
    or
    CHF Investor Relations
    Alison Tullis
    Account Manager
    (416) 868-1079 ext. 233