TG World Energy Corp.
TSX VENTURE : TGE

TG World Energy Corp.

December 29, 2008 17:48 ET

TG World Grants Stock Options

CALGARY, ALBERTA--(Marketwire - Dec. 29, 2008) - TG World Energy Corp. (TSX VENTURE:TGE) ("TG World" or the "Company") announces today that its Board of Directors has granted options to directors, officers, and insiders of the Company entitling optionees to acquire up to 2,590,000 common shares of TG World. Each option permits the holder to subscribe for and purchase one common share of the Company, at an exercise price of CAD$0.07 per share (which was the market price at the time of grant), for a period of 5 years from the date of grant.

Corporate Profile

TG World is a Calgary-based, junior international oil and gas exploration company. On March 18, 2006, TG World Energy Inc., a wholly-owned subsidiary of TG World, entered into a major exploration project through the formation of a joint venture with Brooks Range Petroleum Corp. The BRPC / TG World Joint Venture was formed as an exploration strategic alliance covering a large area of mutual interest on the Alaskan Central North Slope. Through a wholly-owned subsidiary, the Company's interest in the Alaska Joint Venture includes a 25 - 35% working interest in approximately 335,000 gross acres of lease lands and an Area of Mutual Interest under which additional lands may be acquired.

Through a wholly-owned subsidiary, TG World holds a 20% carried interest in the Tenere Block, an oil and gas concession in the Republic of Niger, Africa, measuring 71,155 square kilometres (17.3 million acres). The Tenere Block contains the northern half of the Termit - Tenere Rift. The southern half is adjacent to the Agadem Block, where six oil discoveries and one gas discovery have been announced. CNPCIT, a unit of CNPC, holds the other 80% of the Tenere concession and acts as operator of the project.

The TSX Venture Exchange has neither approved nor disapproved the contents of this news release and the TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this news release.

Contact Information

  • TG World Energy Corp.
    Clifford M. James
    President & CEO
    (403) 265-4506
    (403) 264-7028 (FAX)
    or
    TG World Energy Corp.
    Paul Moon
    Director, Corporate Communications
    (403) 265-4506
    (403) 264-7028 (FAX)
    Email: info@tgworldenergy.com
    Website: www.tgworldenergy.com