Triangle Petroleum Corporation
OTC Bulletin Board : TPLM

Triangle Petroleum Corporation

June 02, 2009 08:00 ET

Triangle Petroleum Markets Nova Scotia Joint Venture Opportunity Through Jefferies Randall & Dewey and Schedules First Quarter Conference Call

CALGARY, ALBERTA--(Marketwire - June 2, 2009) - Triangle Petroleum Corporation (the "Company" or "Triangle") (TSX VENTURE:TPE) (OTCBB:TPLM) is pleased to announce that it has retained Jefferies Randall & Dewey, the Energy Investment Banking Group of Jefferies & Company, Inc., as its exclusive advisor to market a joint venture opportunity on the Company's Windsor Block in Nova Scotia.

The Company has prepared, with the assistance of Jefferies Randall & Dewey, a virtual data room of confidential information and is actively soliciting joint venture proposals. Triangle operates a ten-year lease on approximately half a million gross acres in onshore Nova Scotia, and has drilled five wells and accumulated a large seismic database. The Company is actively seeking a joint venture partner to participate in the drilling of additional wells to help provide the necessary technical and economic signposts towards potential commercial production. Companies interested in viewing the joint venture opportunity are encouraged to contact Jefferies Randall & Dewey representatives Bill Marko or Andy Rogers at (281) 774-2000.

Howard Anderson, President & COO of Triangle, states, "Together with the recent hiring of Jeff McKenna, our new Vice President, Corporate Development, retaining the experienced and reputable firm of Jefferies Randall & Dewey demonstrates our clear commitment to accelerating our Nova Scotia shale gas project."

Conference call information

Triangle has scheduled a conference call to review first quarter fiscal 2010 results on Thursday June 4 at 11:00 a.m. Eastern Time. To participate in the conference call, callers in the United States and Canada can dial (866) 845-8624 and international callers can dial (706) 634-0487. The Conference I.D. for all callers is 12765656.

The call will be available for replay beginning two hours after the call is completed through midnight of June 8, 2009. For callers in the United States and Canada, the toll-free number for the replay is (800) 642-1687. For international callers the number is (706) 645-9291. The Conference I.D. for all callers to access the replay is 12765656.

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.

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 planned joint venture activities. 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 and on SEDAR.

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.

Contact Information