TG World Energy Corp.

TG World Energy Corp.

April 03, 2007 18:58 ET

TG World- Stock Options Granted

CALGARY, ALBERTA--(CCNMatthews - April 3, 2007) - TG World Energy Corp. (TSX VENTURE:TGE) ("TG World" or the "Company") announces today that the Board of Directors have granted options to George Chelico, newly appointed CFO to the Company, to acquire up to 100,000 common shares of TG World. Each option represents the right to purchase one common share of the Company at an exercise price of CAD$1.56 per share 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. 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 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.

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. 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. The Company's indirect interest in the Central North Slope Alaska Joint Venture includes a 25 - 35% working interest in approximately 309,384 net acres of lease lands and an AMI under which additional lands may be acquired. The Company has a 35% working interest in the two to three well Gwydyr Bay program planned for the 2006/07 winter season.

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
    TG World Energy Corp.
    Paul Moon
    Director, Corporate Communications
    (403) 265-4506