TG World Energy Corp. (fka TGE.v)

[Tackler]

TG World's Tenere well reaches 3,500 m depth

2007-01-18 12:36 ET - News Release

Mr. Clifford James reports

TG WORLD PROVIDES TENERE 'NIGER' DRILLING UPDATE

TG World Energy Corp. is providing an update on the exploration campaign being carried out by the project operator, CNPC International Tenere, a unit of China National Petroleum Corp. For past information concerning the Tenere project, please refer to the company's website.

The operator has advised the company that the Saha-1 exploration well, being drilled in the Tenere permit, Niger, reached total depth of 3,500 metres at midnight on Jan. 16, 2007, Niger time, and the operator is now proceeding to log the open-hole section and finalize plans for a drill-stem testing program.

Readers are cautioned that the company has insufficient information at the current time to assess whether the structure targeted by the Saha-1 well contains any meaningful quantities of hydrocarbons or whether the Saha-1 well will be capable of producing hydrocarbons in commercial quantities. Testing of the well and analysis of the test data are required to enable the company to make such determinations.

Saha-1 testing

TG World has been advised that, following completion of logging runs and bottom-hole operations, which is expected to take three to four days, the operator plans to rig up its on-site testing unit. Testing is scheduled to require approximately two weeks. The company plans to issue a separate news release, to report the results of the testing program, when those results are made available to TG World.

Tenere block -- second exploration well

Following completion of Saha-1 testing operations, the rig will be moved to commence drilling of the second planned CNPCIT-operated exploration well. CNPCIT has advised the company that construction of the drilling platform at the second location has been completed. Rig move and rig-up to spud may take as long as two months because of desert conditions. CNPCIT has indicated that it is considering renaming the second well, previously referred to as Fachi West-1, to correspond better to Niger internal nomenclature.

Operating committee meeting Dec. 13, 2006

At an operating committee meeting held on Dec. 13, 2006, in Beijing, CNPCIT and TG World confirmed their commitment to an aggressive work program and budget for 2007. The partnership will drill two exploration wells (firm) and, in the event of a discovery, an appraisal well (contingent). As well, the 2007 budget provides for the acquisition of an additional 700 kilometres of 2-D seismic data, to provide additional regional coverage and prospect-specific detail coverage. The operator has indicated that it also plans to acquire 3-D seismic data in the event of a discovery.