TG World Names Chelico Finance Chief
TG World Energy Corp. has appointed George Chelico the company's Chief Financial Officer (CFO).
Chelico has over 30 years of experience in finance and taxation in the oil and gas and fertilizer industries. He holds a Bachelor of Commerce degree with a major in accounting and business administration from Loyola University of Montreal (now Concordia). Chelico has held senior positions in the tax, accounting, internal audit and insurance fields with BP Canada (now Talisman Energy) and Agrium Inc.
TG World is a Calgary-based, junior international oil and gas exploration company. Through a wholly owned subsidiary, TG World holds a 20% carried interest in the Tenere Block, an oil and gas concession in the Republic of Niger, Africa, measuring 71,155 square kilometers (17.3 million acres). The Tenere Block contains the northern half of the Termit - Tenere Rift. The southern half is adjacent to the Agadem Block, where six oil discoveries and one gas discovery have been announced. CNPCIT, a unit of CNPC, holds the other 80% of the Tenere concession and acts as operator of the project.
On March 18, 2006, TG World Energy Inc., a wholly owned subsidiary of TG World, entered into a major exploration project through the formation of a joint venture with Brooks Range Petroleum Corporation. The BRPC / TG World Joint Venture ("JV") was formed as an exploration strategic alliance covering a large area of mutual interest on the Alaskan Central North Slope. The company's indirect interest in the Central North Slope Alaska Joint Venture includes a 25 – 35% working interest in approximately 309,384 net acres of lease lands and an AMI under which additional lands may be acquired. The company has a 35% working interest in the two well Gwydyr Bay program planned for the 2006/07 winter season.
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