Message #4 From:
NewsBot Date: July 5, 2005 02:44:51 PM
TPLM News Research Triangle Outlines Exploration Program
Triangle Outlines Exploration Program
Triangle Petroleum Corporation (OTCBB:TPLM) (the "Company" or "Triangle") is pleased to announce the Company's exploration program over the next twelve months.
Phase I -
- expand the board of directors and management team
- complete first tranche of funding (see June 17 press release)
- acquire and interpret seismic data
- contract a drilling rig for the winter season
Phase II -
- commence second tranche of funding
- continue seismic data acquisition and interpretation
- acquire initial land purchases through crown purchases
- establish joint venture farm-ins
Phase III -
- commence winter drilling program
- commence third tranche of funding
- continue to acquire land via crown purchases and farm-ins
- initiate completion of wells drilled
Mark Gustafson, President & CEO of Triangle, states "this is an aggressive timetable, yet achievable given the quality and capability of the team being assembled in the Company and its wholly owned operating subsidiary".
About Triangle Petroleum Corporation
Triangle is a focused natural gas exploration company developing a large resource play in the Deep Basin area of Western Canada. The Company will use propriety technology to identify and commercialize natural gas fields. An experienced team comprising technical and business skills is being formed to exploit the Company's opportunity portfolio. Advanced reservoir description techniques will complement state of the art 3-D seismic interpretations to optimize drill sites. Project specific drilling and well completion techniques will be employed to optimize the production potential for each new pool. A land acquisition strategy employing traditional and new business models will be used to secure the opportunities for Triangle.
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On behalf of the Board of Directors,
TRIANGLE PETROLEUM CORPORATION
Mark Gustafson, President
Safe Harbor Statement. This news release includes statements about expected future events and/or results that are forward-looking in nature and subject to risks and uncertainties. Forward-looking statements in this release include, but are not limited to, the Company's proposed acquisition and development of properties, including drilling projects. It is important to note that actual outcomes and the Company's actual results could differ materially from those in such forward-looking statements. Factors that could cause actual results to differ materially include the possibility that additional investments will not be made or that appropriate opportunities for development will not be available or will not be properly developed. For additional risk factors about our Company, readers should refer to risk disclosure contained in our reports filed with the Securities and Exchange Commission.
Triangle Petroleum Corporation (OTC Bulletin Board:TPLM)
Triangle Petroleum Corporation
Jason Krueger, CFA
Corporate Communications
(403) 374-1234
Email: info@trianglepetroleum.com
Website: www.trianglepetroleum.com
