TG World Energy Corp.
TSX VENTURE : TGE

TG World Energy Corp.

October 25, 2006 09:00 ET

TG World Joined by Bow Valley Energy in Central North Slope Alaska Project

CALGARY, ALBERTA--(CCNMatthews - Oct. 25, 2006) - TG World Energy Corp. (TSX VENTURE:TGE) ("TG World" or the "Company") announced today that Bow Valley Energy Ltd. (TSX - BVX) has entered into a Joint Venture Agreement with Alaska Venture Capital Group, LLC ("AVCG") and its operating subsidiary Brooks Range Petroleum Corporation ("BRPC"), under which Bow Valley has agreed to participate in an exploration program on the North Slope of Alaska along with fellow participants Ramshorn Investments and TG World.

The North Slope joint venture was formed in March 2006 between TG World and BRPC, which also acts as project operator. The BRPC / TG World Joint Venture ("JV") was formed as an exploration strategic alliance covering a large area of mutual interest on the Alaskan North Slope. Membership in the JV was expanded in June 2006 with the addition of Ramshorn Investments, Inc., a wholly owned subsidiary of Nabors Drilling USA, LP, the world's largest oil and gas drilling contractor. For past information on the JV and the prospect areas, please refer to TG World's September 7, May 18 and March 20, 2006 news releases, which are available on the Company's website at www.tgworldenergy.com.

"We welcome the addition of Bow Valley Energy to the Alaska North Slope Joint Venture," said Cliff James, TG World's CEO. "Bow Valley is a successful exploration and production company in both international ventures and Western Canada. We expect that Bow Valley's project management and technical experience will benefit our joint venture, and we look forward to working together with the Bow Valley team."

Corporate Profile

TG World is a Calgary-based, junior international oil and gas exploration company. Through a wholly-owned subsidiary, TG World holds a 20% carried interest in the TTnTrT Block, an oil and gas concession in the Republic of Niger, Africa, measuring 71,155 square kilometers (17.3 million acres). The TTnTrT Block contains the northern half of the Termit - TTnTrT Rift. The southern half is adjacent to the Agadem Block, where Petronas and Exxon have so far drilled six announced oil discoveries and one gas discovery. CNPC International (TTnTrT) Ltd. (CNPCIT), a unit of the China National Petroleum Corporation (CNPC), holds the other 80% of the TTnTrT concession and acts as operator of the project.

On March 18, 2006, TG World entered into a major exploration project through the formation of a joint venture on the Central North Slope of Alaska with Brooks Range Petroleum Corporation, a wholly owned subsidiary of Alaska Venture Capital Group, LLC. The Company's interest in the Central North Slope Alaska Joint Venture includes a 25 - 35% working interest in approximately 172,000 net acres of lease lands and an AMI under which additional lands may be acquired.

Information relating to various risk factors to which TG World is exposed in the conduct of its business are described in publicly available documents filed by TG World with certain securities regulatory authorities in Canada, which are available through SEDAR, at www.sedar.com.


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

Contact Information

  • TG World Energy Corp.
    Clifford M. James
    President and 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