TG World Completes Funding of Loan Facility and Provides Philippine Operations Update

TG World Energy Corp. (TSX VENTURE:TGE) ("TG World" or the "Company") has drawn
down the second and final tranche of its previously announced US$6 million debt
facility provided by LIM Asia Special Situations Master Fund Limited ("LIM"). TG
World received US$3 million on August 30, 2010, in addition to the second
tranche of US$3 million received today.


In connection with this drawdown, TG World issued 7.2 million common share
purchase warrants to LIM. The warrants allow for the purchase of up to 7.2
million common shares of TG World at an exercise price of CAD$0.10 with an
expiry of August 30, 2012. The proceeds from the debt facility will be used to
fund TG World's ongoing exploration and production operations. 


TG World and its project partners in the Philippines have completed the
offloading and sale of 194,336 barrels of oil produced from the Tindalo well.
The crude oil has been offloaded from the floating storage and offloading vessel
and sold to a buyer in South Korea. 


The Tindalo well sidetrack program continues offshore in the Philippines and is
expected to be completed within the next week.


Corporate Profile

TG World is a Calgary-based, junior international oil and gas company with
exploration, development and production operations in the Philippines, Alaska
and Niger. 


TG World (BVI) Corp. (a wholly-owned subsidiary of TG World) is partnered with
operator Nido Petroleum Ltd., Kairiki Energy Ltd. and Trafigura Ventures III BV
in a joint venture for Service Contract 54A in the North West Palawan Basin of
the Philippines. 


TG World Energy Inc. (a wholly-owned subsidiary of TG World) is partnered with
operator Brooks Range Petroleum Corp., Alaska Venture Capital Group, Brooks
Range Development Corp. and Ramshorn Investments Inc. in a joint venture that is
pursuing oil and gas opportunities on the Central North Slope of Alaska. 


TG World Petroleum Ltd. (a wholly-owned subsidiary of TG World) is partnered
with operator CNPCIT, a unit of the China National Petroleum Company, in the
Tenere Block oil and gas concession in the Republic of Niger, Africa. 


Certain information set out in this News Release constitutes forward-looking
information. Forward-looking statements are often, but not always, identified by
the use of words such as "seek", "anticipate", "plan", "continue", "estimate",
"expect", "may", "will", "intend", "could", "might", "should", "believe" and
similar expressions. Forward-looking statements are based upon the opinions and
expectations of management of the Company as at the effective date of such
statements and, in some cases, information supplied by third parties. Although
the Company believes that the expectations reflected in such forward-looking
statements are based upon reasonable assumptions and that information received
from third parties is reliable, it can give no assurance that those expectations
will prove to have been correct. Forward-looking statements are subject to
certain risks and uncertainties that could cause actual events or outcomes to
differ materially from those anticipated or implied by such forward-looking
statements. These factors include, but are not limited to, such things as
general economic conditions in Canada, the United States, Niger, the Philippines
and elsewhere, the volatility of prices for oil and gas and other commodities,
commodity supply and demand, fluctuations in currency and interest rates,
inherent risks associated with the exploration of oil and gas properties
(including mechanical problems), ultimate recoverability of reserves,
production, timing, results and costs of exploration and development activities,
political or civil unrest, availability of financial resources or third-party
financing, availability of equipment and personnel and new laws and regulations
(domestic and foreign). 


Forward-looking statements respecting the timing and nature of remediation
activities at the Tindalo-1 well are based on the discussions carried out to
date with Nido, the results of prior exploration, development and production
activities, the results of current exploration, development and production
activities, technical information provided to TG World by Nido and the current
budget and plan for exploration, development and production activities (which
are all subject to change). Accordingly, readers should not place undue reliance
upon the forward-looking statements contained in this News Release and such
forward-looking statements should not be interpreted or regarded as guarantees
of future outcomes. Forward-looking statements of TG World contained in this
News Release are expressly qualified, in their entirety, by this cautionary
statement. Additional information relating to various risk factors to which TG
World is exposed in the conduct of its business (and which may affect the
expectations or outcomes reflected in the forward-looking statements contained
in this News Release) are described in publicly available documents filed by TG
World with certain securities regulatory authorities in Canada, which are
available through SEDAR at www.SEDAR.com.