Tanganyika Oil Company Ltd.
TSX VENTURE : TYK

Tanganyika Oil Company Ltd.

January 23, 2006 10:00 ET

Tanganyika Oil Company Ltd.: Gonzalo Ruiz Appointed General Manager-Syria

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Jan. 23, 2006) - Tanganyika Oil Company Ltd. (the "Company" or "Tanganyika") (TSX VENTURE:TYK)(NYA MARKNADEN:TYKS) is pleased to announce the appointment of Mr. Gonzalo Ruiz as General Manager for the Company's Syrian operations. Mr. Ruiz has over 30 years of international technical and commercial experience in the oil and gas industry. Mr. Ruiz is a Registered Professional Engineer receiving a B.Sc. in Petroleum Engineering and an MBA from the University of Texas at Austin. He spent many years at Occidental Petroleum in various senior level positions worldwide including the Middle East. He also has experience with heavy oil operations in remote locations having managed Alberta Energy Company's (now EnCana) operations in Ecuador. Most recently, he was President of a highly successful petroleum consultancy working throughout the heavy oil regions of South America. Mr. Ruiz brings a wealth of expertise and knowledge to the Company.

Gary Guidry, President of Tanganyika Oil, commented, "We are very pleased to welcome Gonzalo to the team. He is exceptionally experienced in all areas of business development, government relations, project management, production operations and petroleum engineering and has particular expertise in heavy oil and EOR projects."

Tanganyika Oil is a Canadian oil and gas company with production and exploration assets in Egypt and Syria. Its shares are traded on the TSX Venture Exchange and Swedish Depository Receipts trade on the Nya Marknaden of the Stockholm Stock Exchange.

ON BEHALF OF THE BOARD

Gary S. Guidry, President and CEO

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

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