TG World Energy Corp. (fka TGE.v)

[Tackler]

TG World operator says Saha-1 not commercially viable

2007-02-28 09:17 ET - News Release

Mr. Clifford James reports

TG WORLD PROVIDES TENERE (NIGER) PROGRAM UPDATE

TG World Energy Corp. has received preliminary information with respect to the drill stem tests conducted on the Saha-1 well in Niger by the operator of the Tenere concession, CNPC International Tenere (CNPCIT), a unit of the China National Petroleum Corp. CNPCIT has advised that tests were conducted over two intervals. Although oil flowed from one such interval, water was also encountered during the test and CNPCIT has determined that the well, based on these test results, will not be capable of commercial production. The test over the second interval apparently was incomplete.

Saha-1 is the first of three exploration wells being drilled by operator CNPCIT and TG World on the Tenere concession, Niger. TG World is carried by CNPCIT as to its 20-per-cent share in the concession for the first three exploration wells and for all seismic acquisition, processing and interpretation until the end of the second exploration well. To the end of 2006, approximately 3,780 kilometres of new 2-D seismic has been acquired and interpreted.

TG World is awaiting more detailed information concerning the testing of the Saha-1 well and expects to issue a news release containing additional information following receipt of more technical data from the operator and TG World's own interpretations.

The operator advises that it will begin mobilization to the second exploration drilling location, Fachi West-1, in the next few days.