Triangle Petroleum Corporation
OTC Bulletin Board : TPLM

Triangle Petroleum Corporation

June 28, 2005 10:50 ET

Triangle Announces President of New Subsidiary and Seismic Acquisition

CALGARY, ALBERTA--(CCNMatthews - June 28, 2005) - Triangle Petroleum Corporation (the "Company" or "Triangle") (OTCBB:TPLM) is pleased to announce the following significant developments.

Effective immediately, Mr. Ron Hietala assumes the role of President and Director of Triangle's new wholly owned Alberta subsidiary, Elmworth Energy Corporation ("Elmworth"), which is the operating company that will carry out all oil and gas exploration and development activities for Triangle. Elmworth has executed an agreement with Mr. Hietala which establishes a dedicated relationship for a period of two years with one year renewals upon approval by both parties.

Mr. Hietala' s mandate is to execute the Company's operating plan: develop a significant natural gas play in Western Canada utilizing a combination of qualified personnel, advanced technology and significant experience within the target area. Mark Gustafson, Triangle's President & CEO, states "we are excited to have Ron onboard and his 19 year career at Canadian Hunter Exploration Ltd. should be instrumental in assembling an experienced team to move this project forward aggressively".

As President of Elmworth, Mr. Hietala's first decision was to acquire access to 120 square miles (approximately 200 square kilometers) of new, high quality three dimensional seismic data in the Deep Basin of Northwestern Alberta. This confidential agreement allows Elmworth a time period to utilize this data to focus on acquiring initial land positions and to refine potential drilling locations. The seismic agreement provides for further data acquisition with options that will build on the initial $600,000 USD payment made by Elmworth.

Ron Hietala, President of Elmworth, states "the licensing of the seismic data is the first step to identify entry points into the new resource play. A geological and geophysical team will interpret the seismic data over the upcoming months. Advanced geophysical attribute analysis coupled with traditional seismic interpretation techniques will enable the project team to extract the maximum information. A select group of geological formations is targeted in the prolific multi-zone producing trend of the Deep Basin."

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.

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.

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