Tanganyika Production Increases 37% From Third Quarter

Tanganyika Oil Company Ltd. (the "Company") (TSX VENTURE:TYK)(OMX:TYKS) is
pleased to provide an update on Fourth Quarter ("Q4") production and the
December exit rates. Gross field production was boosted by over 3,300 bopd or
37% during Q4 with continued development drilling, especially in the northern
and southwestern extensions of the West Tishrine Field as well as the Company's
ongoing cyclic steam stimulation program.




                         Gross Oil Shipments     Company Net Oil Shipments
                             (bopd - average)              (bopd - average)
                   -------------------------     -------------------------
                    Syria                         Syria
                    Total   Tishrine   Oudeh      Total   Tishrine   Oudeh
Q3 2007             8,894      6,454   2,440      1,447        366   1,081

October 2007        9,198      6,675   2,523      1,700        550   1,150
November 2007      10,017      7,306   2,711      2,070        808   1,262
December 2007      10,997      7,946   3,051      2,800      1,281   1,519
                   -------------------------     -------------------------
Q4 2007            10,070      7,309   2,761      2,190        880   1,310

Last Two Weeks
 of December
 2007              12,220      9,082   3,138      3,491      1,912   1,579



The first of three new drilling rigs is on a commercial ship and expected to
spud mid February. The second rig is expected to depart China this week and
expected to spud the first well by the end of February. The third rig is
expected to ship in early February and spud before the end of March.


Tanganyika Oil Company Ltd. is a Canadian oil and gas company with production
and exploration assets in Syria. Its shares are traded on the TSX Venture
Exchange under the symbol TYK and its Swedish Depository Receipts trade on the
OMX Nordic Exchange under the symbol "TYKS".


Forward-looking statements: This press release contains statements about
expected or anticipated future events and financial results that are
forward-looking in nature and, as a result, are subject to certain risks and
uncertainties, such as general economic, market and business conditions, the
regulatory process and actions, technical issues, new legislation, competitive
and general economic factors and conditions, the uncertainties resulting from
potential delays or changes in plans, the occurrence of unexpected events and
management's capability to execute and implement its future plans. Actual
results may differ materially from those projected by management.