TG World updates central north slope Alaska

TG World Energy Corp. provides an update on the Alaska Central North Slope winter 2008 exploration program, which is being carried out by the project operator Brooks Range Petroleum Corporation (“BRPC” or the “Operator”), a wholly-owned subsidiary of the Alaska Venture Capital Group.

BRPC has informed the joint venture (“JV”) participants, TG World Energy Inc., Bow Valley Alaska Corporation and Ramshorn Investments Inc., that contracted rig, Nabors’ 27E, re-entered the North Shore #1 well on January 10 to further evaluate an Ivishak oil accumulation that was originally tested in 1974.

Certain information set out in this News Release constitutes forward-looking information, including information concerning anticipated exploration activities in Alaska and the timing of selection of a location for the drilling of a third well on the Tenere Block in Niger. Readers should review the cautionary statement respecting forward-looking information that appears at the end of this News Release.

Last winter season, on behalf of the JV, BRPC successfully drilled and logged the prospective Sag and Ivishak Formations but was unable to complete the well due to the winter drilling season coming to an end. The well bore was drilled to 13,319 feet total measured depth. Casing was run in the well to approximately 12,500 feet measured depth and cemented, and the well was suspended and made ready for re-entry during the 2008 winter drilling season. The Operator has advised that it plans to sidetrack out of the existing casing, re-drill the last 1,000 feet, complete the well, and then test both the Sag and Ivishak formations. TG World has a 35% working interest in the North Shore #1 well.