TG World Energy Corp. (fka TGE.v)

[Tackler]

TG World Energy spuds Saha-1 well at Tenere

2006-10-30 15:44 ET - News Release

Mr. Clifford James reports

TG WORLD TENERE PROJECT UPDATE

TG World Energy Corp.'s Saha-1 exploration well has commenced drilling on its Tenere concession, Niger.

The company has been advised by the Tenere project operator, CNPC International Tenere Ltd., a unit of the China National Petroleum Corp., that the Saha-1 well was spudded at 7 a.m. Niger time (6 a.m. GMT) on Oct. 30, 2006.

The Saha-1 well, which is expected to be drilled to a total depth of approximately 3,600 metres, is the first of three back-to-back exploration wells planned for the Tenere concession during the first exploration period. Through a wholly owned subsidiary, TG World holds a 20-per-cent carried interest in the well and the Tenere concession.

"This is great news," said TG World chief executive officer Clifford James. "The top drive was the last major piece of equipment to be delivered and we are advised that it is now installed and operating. CNPC has expended considerable effort to provide equipment in advance for any eventuality in the drilling program -- for all three wells. They are applying the expertise gained from their Sudan and Chad discoveries and we anticipate a highly professional drilling campaign."