Triangle Petroleum Corporation
OTC Bulletin Board : TPLM

Triangle Petroleum Corporation

July 11, 2005 19:46 ET

Triangle Obtains Resource Assessment Report

CALGARY, ALBERTA--(CCNMatthews - July 11, 2005) - Triangle Petroleum Corporation (the "Company" or "Triangle") (OTCBB:TPLM) is pleased to announce the following development from its wholly owned operating subsidiary, Elmworth Energy Corporation ("Elmworth").

Elmworth has received an independent geological assessment of the exploration area being considered by the company. The firm that provided the resource assessment is an industry recognized leader, specializing in Canadian and international geological evaluations. The consulting firm has first hand knowledge of the Deep Basin of Western Canada along with a diverse experience base in more than thirty-five nations.

The result of this recent work has confirmed a resource assessment in excess of 2 TCF of natural gas. A portion of the 2 TCF has been produced while the majority of the opportunity remains to be exploited. Elmworth will integrate this independent work into the geological and geophysical interpretations that have commenced. The geophysical team is currently being assembled and is reviewing the seismic processing requirements of the 120 square mile 3-D survey acquired by the company. For more information on this report please see the Company's website at www.trianglepetroleum.com.

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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