Triangle Petroleum Corporation
OTC Bulletin Board : TPLM

Triangle Petroleum Corporation

September 20, 2007 09:01 ET

Triangle Petroleum Commences Drilling Oil Well in Rocky Mountains

CALGARY, ALBERTA--(Marketwire - Sept. 20, 2007) - Triangle Petroleum Corporation (the "Company" or "Triangle") (OTCBB:TPLM) today announced that its oil exploration program has commenced in southwestern Wyoming.

In conjunction with its joint venture partners, the Company has commenced drilling a 2,000 foot test well into the Nugget Sandstone formation. Triangle and its partners are targeting a conventional oil reservoir on this 17,000 gross acre prospect in Lincoln County, Wyoming. Technical evaluation of deeper wells previously drilled in this area indicates that a bypassed oil zone opportunity may exist.

The entire drilling and testing program is expected to be complete by mid-October. Drilling and completion costs are expected to total approximately $800,000. Triangle pays 33% of the costs for a 25% working interest. If oil is encountered during the test phase, a follow-up drilling program will be planned and initiated.

Mark Gustafson, Triangle's President & CEO, comments, "This is one of two oil exploration programs that we have planned to pursue in this joint venture. Any oil encountered in this test well would have meaningful implications for our Company."

About Triangle Petroleum Corporation

Triangle is an exploration company focused on emerging Canadian shale gas projects, the Fayetteville shale gas project in Arkansas and select conventional oil projects in the Rocky Mountains. 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.

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 amount of funds the Company may receive, 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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