• Receives Results Of Fachi West-1 Well
• Location Of Third Exploration Well (TG World Carried) to Be Selected After Evaluation of Seismic and Results of First Two Wells
TG World Energy Corp. has received confirmation from the Operator of the Ténéré Concession, CNPC International Ténéré (“CNPCIT”), a unit of the China National Petroleum Corporation, that the second exploration well on the Ténéré Block, Niger, has been plugged and abandoned as a dry hole.
CNPCIT has advised that Fachi West-1 reached a total depth of 3,400 metres in the Donga Formation. No significant hydrocarbon shows were encountered while drilling and there were no significant indications of hydrocarbons on wireline logs. The well was plugged and abandoned on May 27, 2007 without testing. The well took 51 days to drill.
Fachi West - 1 was the second of three exploration wells being drilled by Operator CNPCIT and TG World on the Ténéré Concession, Niger.
The results of the Fachi West-1 well are being integrated into the data interpretation prior to finalising the selection of the location for the third prospect, which is anticipated to be drilled as soon as possible in 2007.
TG World is carried by CNPCIT as to its 20% 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 3,965 km of new 2D seismic has been acquired and interpreted.
