Triangle Petroleum Corporation
OTC Bulletin Board : TPLM

Triangle Petroleum Corporation

December 23, 2008 08:00 ET

Triangle Petroleum Receives Approval in Principle for Nova Scotia Shale Gas Production Lease

CALGARY, ALBERTA--(Marketwire - Dec. 23, 2008) - Triangle Petroleum Corporation (the "Company" or "Triangle") (TSX VENTURE:TPE)(OTCBB:TPLM) today reported that its Canadian operating subsidiary, Elmworth Energy Corporation, has received approval in principle from the Nova Scotia government for a shale gas production lease in the Windsor Block.

This production lease will cover a 10-year period and additional approvals are required for specific activities and stages within the lease. Company staff will meet with energy department officials in the New Year to confirm specific work commitments which were proposed in the development application submitted in June 2008.

"Elmworth is pleased to gain approval in principle for the next phase of our Windsor block project," said Howard Anderson, President of Triangle. "Nova Scotia is a great place to do business, and we hope our development will bring a new source of energy and continued economic benefits to the region."

About Triangle Petroleum Corporation

Triangle is an exploration company focused on an emerging Canadian shale gas project covering 516,000 gross 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.

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