TANGANYIKA OIL COMPANY COMMENCES LAND GRAVITY SURVEY IN TANZANIA.

VANCOUVER, BC--(BUSINESS WIRE)--Oct. 5, 1995--TANGANYIKA OIL COMPANY(VSE: TYK ) TANGANYIKA OIL COMPANY LTD. (the "Company") announces that their gravity team has arrived in Dar Es Salaam. A detailed land gravity survey has commenced in the Mandawa Jurassic Salt Basin (Block 1) on the eastern coast of Tanzania.

The objective of the survey is to delineate large pre-Jurassic salt gravity and seismic structural leads along the western margin of the Mandawa Basin. Existing (pre-1990) seismic and gravity grid, shot mainly over the central parts of the 80 km wide rift basin, stopped short of the leads which appear towards the end of several seismic lines.

Rich oil-prone mature source rock was determined to exist below the salt in the area of full seismic coverage but no reservoir rocks were found. Gravity has proved to be an effective exploration tool in the basin due to the remarkable contrast in rock densities of the sedimentary section which contains salt and the pre-Cambrian metamorphic basement of the basin floor. Previous seismic and gravity work verified favourable matching between gravity and seismic structural anomalies.

The survey will cover the corridor area of the anticipated Lower Jurassic deltas where a sandstone reservoir is expected to develop near the basin margin adjacent to the western basement outcrop.

The Company is also re-processing the existing seismic with an objective of combining the new gravity and the re-processed data together to enhance the structural integrity of the prospects.

The geological setting in the Mandawa-Rufiji Basin is similar to the Ma'rib Al Jawf Basin in Yemen where major reserves were discovered since 1984. Canadian Occidental Petroleum and Hunt Oil are operating in Ma'rib Al Jawf and are producing in excess of 360,000 BOPD.

ON BEHALF OF THE BOARD "Mamdouh Nagati" President

CONTACT: Tanganyika Oil Company Ltd.

William V. Williams, Corporate Development

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