TG World Secures US$6.0 Million Debt Facilities

TG World Energy Corp. (TSX VENTURE:TGE) ("TG World" or the "Company") announces
that it has closed two loan facilities for a total of US$6.0 million with LIM
Asia Special Situations Master Fund Limited ("LIM").


The US$6.0 million will be drawn down in two equal tranches on August 30, 2010
and in September 2010. 


The first facility is a 9-month, US$1.0 million bridge financing with an
interest rate of 18% and is secured by funds due to TG World from the State of
Alaska's Petroleum Production Tax Credit program. The proceeds from the bridge
financing facility will be used to repay the remaining amount due on the Secured
Loan Facility TG World entered into with an institutional lender on January 18,
2010. 


The second facility is an 18-month, US$5.0 million secured debt financing with
an interest rate of 16% and is secured by the assets of the Company. This
facility is repayable in part or full at any time over the 18-month term,
subject to certain prepayment penalties. The proceeds from the secured debt
facility will be used to fund ongoing exploration and production in TG World's
areas of operation. 


In connection with the drawdowns of the secured debt facility, TG World will
issue to LIM common share purchase warrants that allow for the purchase of up to
12 million common shares of TG World (4 million on August 30, 2010 and 8 million
in September 2010). The warrants expire on August 30, 2012 and have an exercise
price of CAD$0.10.


Corporate Profile

TG World is a Calgary-based, junior international oil and gas company with
diversified exploration and development 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 ("SC 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). 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 respecting the use of proceeds
from the debt facilities are based on the results of prior exploration,
development and production activities, technical information provided to TG
World by third parties and the current budget for exploration, development and
production activities (which are subject to change). Forward-looking statements
regarding the drawdown dates for the facility tranches are based on discussions
with LIM. 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.