Triangle Petroleum Corporation
OTC Bulletin Board : TPLM
TSX VENTURE : TPE

Triangle Petroleum Corporation

April 16, 2009 17:06 ET

Triangle Petroleum Announces Investor Relations and Market-Making Arrangements

CALGARY, ALBERTA--(Marketwire - April 16, 2009) -

NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE U.S.

Triangle Petroleum Corporation (the "Company" or "Triangle") (TSX VENTURE:TPE) (OTCBB:TPLM) today reported that it has, subject to regulatory approval, signed an amending agreement with San Diego Torrey Hills Capital, Inc. ("Torrey Hills") to add market-making services in Canada to its agreement for investor relations services.

For a monthly fee of $9,000 US, Torrey Hills will provide investor relations consulting services and market-making services in Canada to Triangle. Mark Gustafson, the Chief Executive Officer of Triangle, is providing 200,000 common shares of Triangle to Torrey Hills for the market-making activities. The agreement is in place until July 14, 2009 and is subject to cancellation on 30 days' notice. Torrey Hills' market-making program for Triangle will be conducted by Torrey Hills through a registered broker in compliance with the guidelines established by the TSX Venture Exchange in Policy 3.4 and other relevant regulations.

Triangle also has an agreement with Redwood Capital Corporation for the provision of investor relations consulting services for a monthly fee of $5,000 Cdn. This agreement is in place until January 31, 2010 and is terminable on 30 days' notice.

About San Diego Torrey Hills Capital, Inc.

San Diego Torrey Hills Capital, Inc. is a corporate finance and investor relations advisory firm specializing in the development of emerging growth companies. With operations in Del Mar, California and Boston, Massachusetts, it represents privately held and publicly traded companies throughout the United States and Canada. Torrey Hills' principal objective is to advise senior management and business owners with respect to (i) the identification and implementation of value-enhancing corporate strategies; (ii) capital raising, mergers and acquisitions, and other financial transactions; and (iii) investor relations, market support and awareness activities. Triangle and Torrey Hills act at arm's length to each other.

About Redwood Capital Corporation

Jason Krueger, President of Redwood, has conducted investor relations programs for a variety of Canadian-listed companies. Mr. Krueger holds the Chartered Financial Analyst® designation, and is a member of the CFA Institute as well as The Calgary Society of Financial Analysts. Triangle and Redwood act at arm's length to each other and Redwood has no direct or indirect interest in Triangle or its securities.

About Triangle Petroleum Corporation

Triangle is an exploration company focused on an emerging Canadian shale gas project covering 475,000 gross acres (270,000 net acres) in the Maritimes Basin in Nova Scotia through Elmworth Energy Corporation, its Calgary-based operating subsidiary. Triangle's common shares trade on the TSX Venture Exchange under the symbol TPE and on the OTC Bulletin Board under the symbol TPLM.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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