Tanganyika Oil Company Ltd.

Tanganyika Oil Company Ltd.

December 12, 2007 16:15 ET

Tanganyika Oil Corporate Update

CALGARY, ALBERTA--(Marketwire - Dec. 12, 2007) - Tanganyika Oil Company Ltd. (the "Company") (TSX VENTURE:TYK)(OMX:TYKS) reports that it has granted an aggregate of 185,433 incentive stock options to certain officers of the Company. The options are exercisable, subject to vesting provisions, over a period of five years at a price of Cdn $14.99 per share.

On Behalf of the Board,

Gary 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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