Triangle Petroleum Corporation

Triangle Petroleum Corporation

November 11, 2010 17:02 ET

Triangle Petroleum Reports Exercise of Over-Allotment Option by Underwriters

DENVER, COLORADO--(Marketwire - Nov. 11, 2010) - Triangle Petroleum Corporation (the "Company") (NYSE Amex:TPLM) (TSX VENTURE:TPO), an oil and gas exploration and production company with assets in the Williston Basin in North Dakota and the Maritimes Basin in Nova Scotia, announced today that the underwriters of its recent public offering of 10,800,000 shares of common stock have fully exercised their over-allotment option to purchase an additional 1,620,000 shares of common stock, bringing the total net proceeds to approximately $62.6 million, after payment of underwriting discounts and commissions and estimated offering expenses. The closing of the over-allotment option is expected to occur on November 16, 2010.

The public offering was underwritten by Johnson Rice & Company L.L.C., as sole book-running manager, and Canaccord Genuity Inc. and Rodman & Renshaw, LLC, as co-managers.

A registration statement on Form S-1 relating to the shares was filed with the Securities and Exchange Commission (the "SEC") and is effective. A prospectus relating to the offering has been filed with the SEC and is available on the SEC's web site at Copies of the final prospectus relating to the offering may be obtained from the offices of Johnson Rice & Company L.L.C. at 639 Loyola Ave., Suite 2775, New Orleans, Louisiana 70113, (504) 525-3767, or from the above-mentioned SEC website.

This press release does not constitute an offer to sell, or the solicitation of an offer to buy, these securities, nor will there be any sale of these securities in any state, province or other jurisdiction in which such offer, solicitation or sale is not permitted.

About Triangle

Founded in 2006, Triangle Petroleum Corporation (NYSE Amex:TPLM) (TSX VENTURE:TPO) is an independent oil and gas exploration company with approximately 475,000 gross acres (413,000 net acres) in the Windsor Block of Nova Scotia and approximately 13,000 net acres in the Williston Basin targeting the Bakken Shale and Three Forks formations.

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