SOURCE: Market Pulse

October 25, 2006 08:40 ET

Market Pulse Breaking News Alert for Wednesday, October 25, 2006: TPLM - Triangle Petroleum Announces First Test Well in Arkoma Basin Located in Arkansas!

NOTE TO EDITORS: The Following Is an Investment Opinion Being Issued by Market Pulse.

ATLANTA, GA--(Marketwire - October 25, 2006) - Market Pulse News Alert for this AM, Stocks to Watch are: Triangle Petroleum Corporation (OTCBB: TPLM), Amazon.Com Inc. (NASDAQ: AMZN), General Motors Corp. (NYSE: GM) and Lucent Technologies Inc. (NYSE: LU).

Investors need to be watching Triangle Petroleum Corporation (OTCBB: TPLM) this AM! Triangle Petroleum is an exploration company primarily focused on large resource plays of natural gas in the Deep Basin area of Western Canada, and in selected areas of the Western United States. The Barnett Shale project is located in Texas and the Fayetteville Shale project is located in Arkansas. An experienced team comprising technical and business skills has been formed to optimize the company's opportunities through its operating subsidiaries -- Triangle USA Petroleum Corporation in the United States and Elmworth Energy Corporation in Canada. Triangle Petroleum recently announced its new strategic initiative in Triangle USA Petroleum Corporation. The initiative involves Triangle USA's participation in a $16.1 million US joint venture program which will exploit the Fayetteville Shale of the Arkoma Basin, located in Arkansas. Triangle USA entered into an agreement with Kerogen Resources Inc. of Houston, Texas, on September 19, 2006. The agreement enables Triangle to acquire 50% of Kerogen's present land position in the Arkoma Basin (approximately 17,000 acres or 26.5 square miles). The agreement further calls for Triangle USA and Kerogen to conduct two new 3-D seismic programs over the prospective acreage block. The Fayetteville Shale is an industry follow-up to the successful Barnett Shale development of the Fort Worth Basin in Texas. The Fayetteville Shale is a geologic equivalent to the Barnett Shale with a large exploration fairway that extends for a distance of approximately 150 miles. The Fayetteville Shale is believed by industry participants to be the next emerging shale gas play. Ron Hietala, President of Triangle USA, comments, "We believe that this Fayetteville Shale gas project allows us to continue developing a significant near and long term production base for our Company. Based upon significant industry interest in this basin, we are fortunate to acquire this key land position in the Arkoma Basin as we believe it provides us with multiple drilling opportunities. We look forward to aggressively developing this exciting new shale gas project with our partner." Triangle Petroleum's business plan is focused on a strategy for maximizing the success of its long-term exploration and drilling program in Canada and the United States. TPLM has had several excellent news announcements out lately and one again before today's opening bell announcing the commencement of drilling operations on its Fayetteville Shale program located in Arkansas! This could be great news for investors!

Triangle Petroleum Corp. (OTCBB: TPLM) is pleased to announce the following development in its wholly owned subsidiary, Triangle USA Petroleum Corporation ("Triangle USA").

Triangle USA is pleased to announce the commencement of drilling operations on its Fayetteville Shale program located in Arkansas. This first well has resulted from a pooling arrangement between Triangle USA's Arkoma joint venture with Kerogen Resources and an experienced local operator. The initial test well, which is located in Conway County, Arkansas, will be a horizontal lateral. The drilling and evaluation stage is anticipated to take approximately thirty days, after which a completion program will be designed incorporating the new data from this exploration test.

Triangle USA is pleased with the accelerated time frame that has been established between the start of the project to the commencement of drilling operations. The objective of Triangle USA's focus is the conversion of a technically guided land acquisition program to specific drilling opportunities in an efficient time frame. The subsurface information being collected along with the stimulation data will assist the company in developing an effective Fayetteville Shale completion strategy. Triangle USA currently has a working interest in 17,000 acres and plans to expand on this solid base through a number of initiatives which will also include new joint ventures with industry partners.

The Fayetteville Shale in the Arkoma basin is an industry follow-up to the successful Barnett Shale development of the Fort Worth Basin in Texas. For more information on this new emerging shale gas play, please visit

Mr. Ron Hietala, President of Triangle USA, comments "the unconventional shale gas programs in the Barnett Shale and now the Fayetteville Shale represent a significant growth opportunity for the Company. The time and resources invested to date will continue to surface new opportunities and provide a long term direction and value for our shareholders."

About Triangle Petroleum Corporation

Triangle is an exploration company focused on the Barnett Shale project in Texas, the Fayetteville Shale project in Arkansas, large resource plays in the Deep Basin area of Western Canada and in select areas of the western United States. An experienced team comprising technical and business skills has been 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.

For more information please visit

Stocks in the news and acting well as of late include: Amazon.Com Inc. (NASDAQ: AMZN), General Motors Corp. (NYSE: GM) and Lucent Technologies Inc. (NYSE: LU).

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