TG World Energy Corp's Wholly-Owned U.S. Subsidiary Has Reached an Agreement
to Settle Outstanding Disputes with Joint Venture Partners in Alaska
(TSX-V: TGE)
With the execution and delivery of the settlement agreement, the current litigation between AVCG/BRPC and TG World, and related claims and counterclaims have been dismissed with prejudice. TG World has also executed the Beechey Point Unit Agreement as part of the settlement agreement.
The Corporation is encouraged by this settlement agreement between the Alaskan joint venture partners and is optimistic that a winter drilling program will be established and completed during the upcoming drilling season in Alaska.
Corporate Profile -----------------
TG World is a Calgary-based, junior international oil and gas exploration company currently focused on Alaska and
TG World Energy Inc., a wholly-owned subsidiary of TG World, is involved in a joint venture with
A second wholly-owned TG World subsidiary, TG World Petroleum Limited, holds a 20% carried interest in the Ténéré Block, an oil and gas concession in the Republic of
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.
For further information: For further information: Dean Callaway, CFO and Vice President, Finance, (403) 265-4506; Ian McColl, Corporate Communications, (403) 265-4506
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