Tanganyika Oil Company Ltd.

Tanganyika Oil Company Ltd.

September 15, 2008 02:30 ET

Tanganyika to Commence Trading on Toronto Stock Exchange on September 16, 2008

CALGARY, ALBERTA--(Marketwire - Sept. 16, 2008) - Tanganyika Oil Company Ltd. ("Tanganyika" or the "Company") (TSX VENTURE:TYK)(OMX:TYKS) is pleased to announce that its common shares will commence trading on the Toronto Stock Exchange as of the market opening on September 16, 2008. The Company's trading symbol "TYK" will remain the same. Tanganyika's shares will be delisted from the TSX Venture Exchange at the close of market on September 16, 2008.

Gary Guidry, President and CEO, commented, "Tanganyika's graduation to the Toronto Stock Exchange is a reflection of the Company's growth and its accomplishments to date. We've continued to set new oil production records during August, with average gross field production of over 21,700 bopd (Company net production of over 9,000 bopd) during the month."

The Tishrine drilling program continues to appraise the West Tishrine extensions that were first reported during the third quarter of 2007. The southwest extension of the West Tishrine field added a significant new area now recognized in the Company's reserve base. A second new appraisal area is the northern down-dip extensions in the Chilou A, Chilou B and Jaddala reservoirs of the West Tishrine field. Both West Tishrine extension areas continue to positively impact production, reserves and validate the trapping model making further appraisal on the Tishrine anticline very exciting for the Company. The Company has commenced drilling additional appraisal wells in the area between West and East Tishrine. Results of these wells are expected during the remainder of the year.

Six drilling rigs are now drilling and ten steam generators are in operation in Syria, providing the Company with a strong platform from which it may continue to expand its drilling and enhanced oil recovery programs.

As expected, 2008 is proving to be a pivotal year for the Company as we demonstrate our ability to grow and convert our world class reserve base into proven producing assets capable of generating strong earnings and operating cash flow.

Tanganyika Oil Company Ltd. is a Canadian oil and gas company with production and exploration assets in Syria. Its shares are traded on the TSX Venture Exchange under the symbol TYK and its Swedish Depository Receipts trade on the OMX Nordic Exchange under the symbol "TYKS".

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

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