TANGANYIKA OIL TO RELEASE FIRST QUARTER RESULTS WEDNESDAY MAY 14, 2008

Telephone Conference to be held on May 15 at 08:30 AM Eastern Standard Time (EST), 14:30 Central European Time (CET).

CALGARY, ALBERTA – Tanganyika Oil Company Ltd. (the "Company") (TYK - TSX Venture, TYKS – OMX Nordic Exchange) announces that the interim report for the first quarter of the financial year 2008 will be published on the 14^th of May.  

The Company will hold a telephone conference with an interactive presentation at 14:30 CET (08:30 AM EST) May 15. Gary S. Guidry, President and CEO of Tanganyika Oil will host the call and Ian Gibbs, CFO will be available to comment on the report.  

Please call in 10 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 1387

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:

http://www.livemeeting.com/cc/premconfeurope/join?id=7468474&role=attend&pw=pw5881

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

Meeting ID: 7468474

Meeting Password: pw5881

The presentation slideshow will be available in PDF format for download from the Tanganyika Oil website: www.tanganyikaoil.com.

A replay of the telephone conference will be available approximately one hour after the completion of the conference and until May 21, 2008.

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: 7468474#

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 and its Swedish Depository Receipts trade on OMX Nordic Exchange.  

For further information, please contact:

Sophia Shane – Corporate Development       

Tel:         +1-(604) 689-7842                                                                                         

Fax:        +1-(604) 689-4250                                                           

E-mail:    sophias@namdo.com                                               

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