SOURCE: Triangle Petroleum Corporation

Triangle Petroleum Corporation

June 17, 2011 09:00 ET

Triangle Petroleum Set to Join Russell 3000® Index, Russell Global Index and Russell Microcap® Index

DENVER, CO--(Marketwire - Jun 17, 2011) - Triangle Petroleum Corporation (NYSE Amex: TPLM) is set to join the U.S. broad-market Russell 3000® Index, Russell Microcap® Index and the Russell Global Index when Russell Investments reconstitutes its comprehensive set of U.S. and global equity indexes on June 24, according to a preliminary list of additions posted June 10 on www.russell.com/indexes.

Annual reconstitution of Russell's U.S. indexes captures and ranks the 4,000 largest U.S. stocks as of the end of May by total market capitalization. Membership in the Russell 3000, which remains in place for one year, means automatic inclusion in the large-cap Russell 1000® Index or small-cap Russell 2000® Index, as well as the appropriate growth and value style indexes. Russell determines membership for its equity indexes primarily by objective, market-capitalization rankings and style attributes. The Russell 3000 also serves as the U.S. component to the Russell Global Index.

"As a high growth-oriented energy company with a strategic emphasis on North Dakota's compelling Bakken Shale oil play, Triangle Petroleum is pleased to be added to the Russell Indexes," said Peter Hill, chief executive officer, Triangle Petroleum. "We have assembled a team of experts from some of the energy sector's most-recognized operators and are aggressively executing our growth plan. The widespread awareness joining the Russell Indexes brings will help increase our visibility and take the Triangle value proposition to a wider range of institutional investors."

Russell indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for both passive and active investment strategies. An industry-leading $3.9 trillion in institutional assets currently are benchmarked to them. These investment tools originated from Russell's multi-manager investment business in the early 1980s when the company saw the need for a more objective, market-driven set of benchmarks in order to evaluate outside investment managers.

More information about Russell Indexes, including total returns, is available at http://www.russell.com/Indexes/data/default.asp.

About Russell:
Russell Investments provides strategic advice, world-class implementation, state-of-the-art performance benchmarks and a range of institutional-quality investment products. Russell has about $161 billion in assets under management as of March 31, 2011, and serves individual, institutional and advisor clients in more than 35 countries. Founded in 1936, Russell is a subsidiary of The Northwestern Mutual Life Insurance Company.

About Triangle:
Founded in 2006, Triangle Petroleum Corporation is an independent oil and gas exploration company that has acquired, or committed to acquire, approximately 72,000 net acres in the Williston Basin targeting the Bakken Shale and Three Forks Formations and approximately 475,000 gross acres (413,000 net acres) in the Windsor Block of Nova Scotia.

Contact Information

  • Contact:
    Kate Finnerty
    Allison & Partners for Triangle
    646.428.0635
    Email Contact