Triangle Petroleum Corporation
OTC Bulletin Board : TPLM

Triangle Petroleum Corporation

August 04, 2005 16:01 ET

Triangle Sets Up Advisory Team Framework

CALGARY, ALBERTA--(CCNMatthews - Aug. 4, 2005) - Triangle Petroleum Corporation (the "Company") (OTCBB:TPLM) is pleased to announce the following development from its wholly owned operating subsidiary, Elmworth Energy Corporation ("Elmworth").

Elmworth has initiated a corporate business model that provides the company with key strategic advice and resources. In addition to the traditional board of directors, the company has implemented a Strategic Advisory Team consisting of expertise from a variety of disciplines.

The company welcomes Tom Davis from the Department of Geophysics at the Colorado School of Mines as the first member of this advisory team. Elmworth will also be a partner in the Reservoir Characterization Project at the Colorado School of Mines. This association re-unites previous joint ventures between the Colorado School of Mines and Canadian Hunter Exploration under the direction of Ron Hietala. Elmworth will work on a collaborative basis with the Colorado School of Mines in applying new seismic techniques to the Deep Basin project currently under way. The Strategic Advisory Team will be expanded in the short term to add further capabilities to the company.

On a related matter, Elmworth is progressing with building its technical management team. Additional updates concerning Triangle's and Elmworth's activities will be forthcoming.

About Triangle Petroleum Corporation

Triangle is a focused natural gas exploration company developing a large resource play in the Deep Basin area of Western Canada. The Company will use propriety technology to identify and commercialize natural gas fields. An experienced team comprising technical and business skills is being formed to exploit the Company's opportunity portfolio. Advanced reservoir description techniques will complement state of the art 3-D seismic interpretations to optimize drill sites. Project specific drilling and well completion techniques will be employed to optimize the production potential for each new pool. A land acquisition strategy employing traditional and new business models will be used to secure the opportunities for Triangle.

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On behalf of the Board of Directors,


Mark Gustafson, President

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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