Tanganyika Oil to Release Year-End Report Wednesday February 28, 2007

Tanganyika Oil Company Ltd. (the "Company") announces that the unaudited fourth quarter and year-end report for the financial year 2006 will be published prior to the opening of trading on February 28, 2007.

The Company will hold a telephone conference with an interactive presentation at 17:00 CET (11:00 AM EST, 08:00 AM PST) February 28, where Gary S. Guidry, President and CEO of Tanganyika Oil will host the call. Arlene Weatherdon, CFO will be available to comment on the report.

Please call in 5 minutes before the conference starts and stay on the line (an operator will be available to assist you).

Call-in number for the conference call (North America): +1 718 354 1388

Call-in number for the conference call (Europe): +46 (0)8 5352 6408

To take part in the interactive presentation, please log on using the following direct link: www.livemeeting.com/cc/premconfeurope/join?id=4297038&role=attend&pw=tan63

Or visit the website www.euvisioncast.com and login using the following:

Meeting ID: 4297038

Meeting Password: tan63

The presentation slideshow will be available in PDF format for download from the Tanganyika Oil website: www.tanganyikaoil.com from 6:30 AM PST on February 28, 2007.

A replay of the telephone conference will be available approximately one hour after the completion of the conference and until March 7, 2007.

Replay number in Europe is: +46-8-5876 9441 and in North America: +1-718-354 1112

To access the recording, please enter access code: 4297038#

Tanganyika Oil Company Ltd. is a Canadian oil and gas company with production and exploration assets in Egypt and Syria. Its shares are traded on the TSX Venture Exchange and Swedish Depository Receipts trade on Stockholmsborsen.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.


Contact:

Gary Guidry
Tanganyika Oil Company Ltd.
President and CEO
(403) 716-4051
(403) 261-1007 (FAX)
Email: gary.guidry@tykoil.com

Arlene Weatherdon
Tanganyika Oil Company Ltd.
Chief Financial Officer
(403) 716-4054
(403) 261-1007 (FAX)
Email: arlene.weatherdon@tykoil.com

Sophia Shane
Tanganyika Oil Company Ltd.
Corporate Development
(604) 689-7842
(604) 689-4250 (FAX)
Email: sophias@namdo.com
Website: www.tanganikaoil.com

Source: Tanganyika Oil Company Ltd.