TG World Energy Corp.

TG World Energy Corp.

December 20, 2006 14:10 ET

TG World Regretfully Announces the Passing of Director

CALGARY, ALBERTA--(CCNMatthews - Dec. 20, 2006) - TG World Energy Corp. (TSX VENTURE:TGE) ("TG World" or the "Company") is deeply saddened to announce the passing away of one of its early directors, Wilfrid A. Loucks.

Mr. Loucks (BSc. in Geological Engineering) was an independent businessman who had been involved in the natural resource sector for over 50 years. Previously, he had held the positions of Managing Director of Norcen International, an oil and gas company, President of Coleman Colliers, a coal producing company, and Vice President of Norcen Energy Resources Ltd., a major Canadian resource company.

"We are deeply saddened by Wilf's passing," said Cliff James, TG World's CEO. "Wilf contributed in a very positive way to the Company's development over many years, and his contribution and friendship will be missed in the future."

The Board of Directors, management and staff of TG World extend to Wilfrid's family their deepest sympathies.

On behalf of the Board of Directors:

Edward (Ted) W. Best, Chairman

A. Lloyd Flood, Director

Clifford M. James, President & CEO, Director

Wayne G. Thomson, Director

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 Tenere Block, an oil and gas concession in the Republic of Niger, Africa, measuring 71,155 square kilometers (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 Petronas and Exxon have so far drilled six announced oil discoveries and one gas discovery. CNPC International (Tenere) Ltd. ("CNPCIT"), a unit of the China National Petroleum Corporation ("CNPC"), holds the other 80% of the Tenere concession and acts as operator of the project. The Saha-1 exploration well, the first of a three-well back-to-back program, began drilling on October 30, 2006.

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 Corporation ("BRPC"), a wholly owned subsidiary of Alaska Venture Capital Group, LLC. The BRPC / TG World Joint Venture ("JV") was formed as an exploration strategic alliance covering a large area of mutual interest on the Alaskan Central 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, and in October 2006, with the addition of Bow Valley Alaska Corporation, a wholly-owned subsidiary of Bow Valley Energy Ltd. The Company's indirect interest in the Central North Slope Alaska Joint Venture includes a 25 - 35% working interest in approximately 182,394 net acres of lease lands and an AMI under which additional lands may be acquired. The Gwydyr well, the first of an up to three-well back-to-back program, is expected to commence drilling in January 2007.

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 and CEO
    (403) 265-4506
    (403) 264-7028 (FAX)
    TG World Energy Corp.
    Paul Moon
    Director, Corporate Communications
    (403) 265-4506
    (403) 264-7028 (FAX)