CALGARY, Aug. 28 /CNW/ - TG World Energy Corp. (TSX-V:TGE) ("TG World" or
the "Company") announces today that its Board of Directors has granted options
to directors, officers and insiders of the Company entitling optionees to
acquire up to 3,660,000 common shares of TG World. Each option permits the
holder to subscribe for and purchase one common share of the Company, at an
exercise price of CAD$0.12 per share (which was the market price at the time
of grant), for a period of 5 years from the date of grant.
TG World is a Calgary-based, junior international oil and gas exploration
company currently focused on Alaska and Niger.
TG World Energy Inc., a wholly-owned subsidiary of TG World, is involved
in a joint venture with Brooks Range Petroleum Corp ("BRPC"). The BRPC/TG
World Joint Venture was formed in 2006 as an exploration strategic alliance
covering a large area of mutual interest on the Alaskan Central North Slope.
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 Niger, Africa, measuring 71,155 square kilometres (17.3
million acres). The Ténéré Block contains the northern half of the Termit -
Ténéré Rift. The southern half of this rift is located in the adjacent Agadem
Block, where six oil discoveries and one gas discovery have been announced.
CNPCIT, a unit of China National Petroleum Company, holds the other 80% of the
Ténéré concession and acts as operator of the project.
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