TG World Energy Corp.
TSX VENTURE : TGE

TG World Energy Corp.

July 07, 2005 10:11 ET

TG World Energy Corp. Tenere Concession Update: Seismic Acquisition Completed

CALGARY, ALBERTA--(CCNMatthews - July 7, 2005) - TG World Energy Corp. (TSX VENTURE:TGE):

- Initial Seismic Acquisition Program Complete

- Total of 1,686.525 km of 2D Seismic Data Acquired

- Processing Well Under Way - Total 1,000 kms Processed to Date

TG World Energy Corp. ("TG World") and CNPC International (Tenere) Ltd. ("CNPCIT"), a unit of the China National Petroleum Corporation, are pleased to announce that the initial seismic acquisition program on the Tenere Block, operated by CNPCIT, was completed on target in late June, 2005. Approximately two thirds of the seismic data has been processed, and is ready for interpretation.

CNPCIT has reported that it achieved all objectives for the seismic acquisition program as of June 18, 2005, through the acquisition of 1,686.525 line km, after commencing shooting on January 11, 2005. CNPCIT achieved an overall rate of 10.67 km/day, despite unseasonably severe heat in the Tenere desert this year.

CNPCIT is now processing the data at its in-house processing centre in Niamey, the capital of Niger. Approximately 1,000 km data has already been processed.

TG World has independently processed certain data in Calgary for purposes of control and comparison, and feedback is being provided to CNPCIT. As previously reported, the data acquired during the program is judged by both parties to be of high quality.

"The majority of the seismic data acquired by the program was prospect or lead-specific," said TG World CEO Clifford James. "The two companies are now proceeding to interpretation with a view to identifying potential drilling locations. Both companies want to move aggressively to the next stage," he said.

The minimum work program on the Tenere Block consists of 1,500 km seismic acquisition and three exploration wells. Operator CNPCIT holds an 80% interest in the Tenere Permit; TG World holds a 20% Carried Interest.

For more information on TG World Energy Corp and the Tenere Block Project, please visit the Company's website at http://www.tgworldenergy.com.

The statements herein that are not historical facts are forward-looking statements. Forward-looking statements (often, but not always, identified by the use of words such as expect, may, anticipate or will and similar expressions) may include plans, expectations, opinions, or guidance that are not statements of fact. Although the Corporation believes that the expectations reflected in such forward looking statements are reasonable, it can give no assurance that such expectations will prove to have been correct. These statements are subject to certain risks and uncertainties that could cause actual results or outcomes to differ materially from those anticipated or implied by forward looking statements. TG World Energy Corp. does not assume responsibility for the accuracy and completeness of the forward looking statements and, subject to applicable law, does not undertake any obligation to publicly revise such forward looking statements to reflect subsequent events or circumstances. The forward looking statements of TG World Energy Corp contained in this News Release or expressly qualified, in their entirety, by this cautionary statement. The various risks associated with the Tenere Block are more fully described in the Material Change Report, filed by the Corporation on SEDAR on September 7, 2004 and which is available at www.SEDAR.com.

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

Contact Information

  • TG World Energy Corp.
    Clifford M. James
    President & CEO
    (403) 265-4506
    (403) 264-7028 (FAX)
    Website: www.tgworldenergy.com