Tanganyika Oil Company Company News

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CNPC, Chevron Held Talks on US Oil Field Stake Buy
Thursday, March 19, 2009CNPC has spurned a chance to secure a first foothold in the U.S. oil sector following an approach by Chevron to buy a stake in a Gulf of Mexico oil field.

Sinopec Completes Acquisition of Tanganyika Oil Co.
Monday, December 22, 2008Ninety-five percent of Tanganyika common shares have been tendered to the offer dated Oct. 30, 2008 made by Mirror Lake Oil and Gas Company Limited, an indirect wholly-owned subsidiary of Sinopec International.

Sinopec's Subsidiary Extends Takeover Offer for Tanganyika Oil
Tuesday, December 02, 2008Sinopec announced that the expiry date of the offer made by its indirect, wholly-owned subsidiary to purchase all of the issued and outstanding shares of Tanganyika Oil has been extended until December 19.

Sinopec, CNOOC Agree on $1.8B for Angola Asset
Wednesday, October 01, 2008China Petrochemical Corp., or Sinopec Group, and Cnooc Ltd. are close to buying a stake held by Marathon Oil Co. in an Angolan oil block after agreeing a price of around $1.8 billion, two people familiar with the matter said Wednesday.

Tanganyika Announces C$75 Million Private Placement
Tuesday, March 04, 2008Tanganyika Oil Company Ltd. has agreed to sell, on a non-brokered, private placement basis, up to an aggregate of 5 million common shares of the Company at a price of CDN $15 per share for gross proceeds of up to CDN $75.0 million.

Tanganyika Approves 2008 Capital Budget of $206 Million
Friday, February 15, 2008The 2008 capital program is drilling intensive with 71% of the capital budget aimed at the drilling effort. It is expected that by the end of Q1 2008 there will be six rigs available for drilling in Syria.

Tanganyika Increases Syrian Production 100%
Friday, February 15, 2008This translates into average expected Company net production of between 6,900 and 8,500 bopd, an increase of over 350% in comparison to 2007 average Company net production.

Tanganyika Revises Year-End Forecast Exit Rate
Wednesday, October 24, 2007Challenges with Syrian project have forced the company to revise production rates.

Tanganyika Closes Sale of Egyptian Assets
Wednesday, September 26, 2007Tanganyika Oil has completed the previously announced sale of its interests in the West Gharib concession area in Egypt to TransGlobe Energy.

TransGlobe Completes Acquisition of West Gharib Assets
Wednesday, September 26, 2007TransGlobe Energy has closed the acquisition of two privately held companies, holding interests in eight development leases and associated infrastructure in the West Gharib Concession area in the Arab Republic of Egypt.

Tanganyika Denies Talks of Syrian Asset Sale
Tuesday, September 11, 2007Tanganyika Oil Company saw the trading of its shares on the OMX Nordic Exchange temporarily suspended after an article published in the Swedish daily business newspaper Dagens Industri.

Tanganyika Reports on its Second Quarter Operations
Friday, July 27, 2007Tanganyika Oil says it spudded ten well during the first half of 2007 at the Oudeh Field in Syria.

Tanganyika Reports on Ops in Syria, Egypt
Thursday, April 19, 2007Tanganyika Oil Company Ltd. on Thursday provided an update on its operations in Syria and Egypt.

Tanganyika Joins Nordic Exchange's Main Market
Wednesday, February 14, 2007Tanganyika Oil Company was listed on the Stockholm Stock Exchange Wednesday, moving up from First North to the Nordic Exchange's main market.

Tanganyika's Board Okays 2007 Capital Budget
Tuesday, December 26, 2006Tanganyika Oil Company Ltd. said that the Board of Directors has approved a $185 million capital budget for 2007.

Tanganyika Says Enhanced Oil Recovery on Track in Syria
Tuesday, September 05, 2006Tanganyika Oil reports that the steam pilot equipment arrived in Syria in late August. The steam generators have been assembled and are currently being commissioned in both the Oudeh and Tishrine contract areas.

Tanganyika Announces 2006 Operations and Capital Program Update
Tuesday, July 18, 2006Tanganyika Oil Co. Ltd. has issued an update on its 2006 capital program and on its operations in Syria and Egypt.

Tanganyika Acquires Interest in North African Oil & Gas Properties
Monday, May 08, 2006Tanganyika and a private corporation have entered an exchange agreement that will allow Tanganyika to develop certain oil and gas properties located in northern Africa.

Tanganyika Continues Aggressive Exploration Program in Egypt
Monday, January 23, 2006Tanganyika Oil Company says that in Egypt, it has continued its aggressive exploration, appraisal and development drilling program with the overall objectives of testing additional prospects in the West Gharib area.

Crosco Wins New Drilling Contracts Contracts
Monday, December 12, 2005Crosco has been awarded a series of new contracts in North Africa and the Middle East.

Tanganyika On Track with Syrian and Egyptian Development Plans
Wednesday, October 12, 2005Tanganyika Oil updates its operations in Egypt and Syria. In Egypt, the Company now has five oil fields in production or under development - Hana, Hoshia, West Hoshia, Fadl and South Ramhi.

Tanganyika Says Appraisal Program Underway on Hoshia Field
Friday, July 15, 2005Tanganyika Oil Company says an appraisal program on the Company's newly discovered Hoshia field in Egypt is in progress.

Tanganyika Announces 2005/2006 Capital Program
Monday, June 27, 2005Tanganyika Oil's Board of Directors has approved the 2005/2006 capital and operating budget for the Company.

Tanganyika Makes Discovery with 2nd Egyptian Well
Tuesday, April 05, 2005Tanganyika Oil Company is encouraged by the test results of its second exploration well, Hoshia-1. The well penetrated 32 feet of oil pay zone in the Lower Miocene Rudeis sandstone reservoir with average 25% porosity.

Tanganyika Spuds Third Exploration Well in Egypt
Wednesday, March 02, 2005Tanganyika Oil Company reports that a third exploration well, West Hoshia-1, has spudded.

Tanganyika Gets Approval for Tishrin & Sheik Mansour Fields
Wednesday, February 16, 2005Tanganyika Oil Company reports that the production sharing agreements signed with the Syrian Petroleum Company and the Syrian Government over the Tishrin and Sheik Mansour fields have been ratified by the Syrian Parliament and President.

Tanganyika Reviewing Egyptian Drilling Prospects
Thursday, February 03, 2005Numerous additional prospects within the West Gharib concession are under review for a potential new drilling campaign being planned for 2005.

Tanganyika Oil Provides Update Oudeh Field Operations
Wednesday, January 26, 2005Tanganyika Oil reports that OD#138, the third of the horizontal wells drilled from the satellite production facility 6-well drilling pad, has been successfully acidized and recompleted with a larger capacity PC pump.

Tanganyika Says Fadl-1 Well Reaches Total Depth
Thursday, January 06, 2005Tanganyika Oil Company reports that the Fadl-1 exploration well in Egypt has reached total depth of 5612 feet and will undergo testing using a PC pump in the coming two weeks.

Tanganyika Oil Spuds Fadl-1 Well in Egypt
Thursday, December 02, 2004Tanganyika Oil reports that the Fadl-1 exploration well has spudded. Fadl-1 is the first of a two well exploration program on the Company's West Gharib concession in Egypt and is located approximately 9.2 km southwest of the Hana field.

Tanganyika Signs PSA for Two Blocks in Syria
Wednesday, December 01, 2004Tanganyika Oil Company reports that a Production Sharing Agreement over the Tishrin and Sheik Mansour fields has been signed with the Syrian Petroleum Company

Tanganyika Oil Begins Drilling in Egypt
Monday, November 22, 2004Tanganyika Oil reports that the first of a two well exploration program on the Company's West Gharib concession in Egypt is expected to spud by the end of November, 2004.

Tanganyika to Negotiate for the Tishrin & Sheik Mansour Flds
Wednesday, October 06, 2004Tanganyika Oil has been notified by the Syrian Government that it is the successful candidate to negotiate an agreement to develop the Tishrin and Sheik Mansour field reactivation project.

Tanganyika Says Report Shows Increase in Oudeh Reserves
Wednesday, September 22, 2004Tanganyika Oil Company reports that an updated independent oil reserve estimate for the Oudeh Field in Syria has been completed by Sproule International Limited.

Tanganyika Oil Plans Three Well Program on West Gharib Block
Friday, September 10, 2004Tanganyika Oil Company is planning a three well drilling program on the West Gharib Block in Egypt.

Tanganyika Increases Production from Oudeh Field in Syria
Thursday, September 02, 2004Following successful solvent wash and acid stimulation treatments on wells OD#133 (vertical well) and OD#2H (horizontal well), production from Oudeh reached a year's high of approximately 2000 bopd.

Tanganyika Continues Fast Track Development of Oudeh Field
Thursday, August 05, 2004Tanganyika Oil says the company's fast track development program of the Oudeh Field in Syria is yielding positive results.

Tanganyika Achieves Significant Production from Oudeh Wells
Monday, July 19, 2004Tanganyika Oil Company reports that the production levels have been achieved from its first two horizontal wells Oudeh #136 and Oudeh #137, following their completion with +600 bopd capacity PCP pumps and the spud of its third Shiranish development well OD#138 in the Oudeh Block in Syria.

Tanganyika Reaches Final Depth on Syrian Well
Wednesday, May 26, 2004Tanganyika Oil reports on the progress of its horizontal drilling program on the Oudeh Field in Syria.

Tanganyika Spuds First Horizontal Well in Oudeh Field
Monday, April 26, 2004Tanganyika Oil Company has spud its first horizontal well (OD #136) in the Shiranish Reservoir of the Oudeh Field in Syria.

Tanganyika Oil to Begin First Horizontal Well at Oudeh Field
Tuesday, April 06, 2004Tanganyika Oil reports that preparations are being made to commence drilling the Company's first horizontal well in the Shiranish Reservoir of the Oudeh Field in Syria.

Tanganyika Hires General Manager for Oudeh Project in Syria
Wednesday, February 18, 2004Tanganyika Oil Company has appointed Mr. Paul A. King as General Manager of the Oudeh Field development project in Syria.

Tanganyika to Sell Shares to Fund Oudeh Field Development
Thursday, February 05, 2004Tanganyika has agreed to sell 3 million shares of the Company in order to fund its work on the Oudeh Field and for general working capital.

Tanganyka Commences First Production at Oudeh Field in Syria
Tuesday, February 03, 2004Tanganyika Oil has successfully completed its initial well workover program on the Oudeh Field in Syria, triggering the first incremental production from the field.

Syrian Govt. Approves Tanganyika PSA for Oudeh Field
Thursday, July 24, 2003Tanganyika Oil reports that the PSA signed with the Syrian Petroleum Company and the Syrian Government for the Oudeh Block has been ratified by the Syrian Parliament and President.

Tanganyika Oil To Develop Oudeh Project in Syria
Wednesday, July 23, 2003Tanganyika Oil Company has provided to the Government of the Syrian Republic and the Syrian Petroleum Company a US $2 million letter of guarantee pursuant to work commitments to be carried out on the Oudeh project.

TYK Signs PSA for Syrian Exploration Block
Tuesday, May 27, 2003Tanganyika Oil Company has signed a Production Sharing Agreement with the Syrian Petroleum Company over the giant Oudeh oil field in northeastern Syria.