Tanganyika to Negotiate for the Tishrin & Sheik Mansour Flds

Tanganyika 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. The company is currently negotiating a Production Sharing Agreement with the Syrian Government and the Syrian Petroleum Company.

The Tishrin and Sheik Mansour Fields are located in the prolific oil producing region of Jbisseh some 120 km south of the company's existing Oudeh Field project (please see attached map). The Tishrin Field is currently producing approximately 6000 bopd through the central production facility and analysis of data and current well performance indicates production upside potential. The Sheikh Mansour Field productive area has been defined by 5 appraisal wells.

The two fields may contain in excess of 500 million barrels of oil in place and has upside potential.

Tanganyika President Lukas Lundin commented, "We are very pleased to be able to build on the success of our existing Syria venture and believe that these two fields will elevate us to a large producer in the country."