Triton Energy Corp.
TSX VENTURE : TEZ

Triton Energy Corp.

December 18, 2008 13:32 ET

Triton Announces 2009 Capital Expenditures Budget

CALGARY, ALBERTA--(Marketwire - Dec. 18, 2008) - Triton Energy Corp. (TSX VENTURE:TEZ) ("Triton" or the "Corporation") is pleased to announce that the Corporation's Board of Directors has approved a capital expenditures budget of $12 million for 2009, which includes drilling up to eight (6.6 net) wells. Triton's 2009 drilling program combines lower risk, medium risk and high risk drills. Lower and medium risk drills are planned at Newton and Sullivan Lake with high risk drills at Beaverhill Lake and Tay River. Triton expects to fund its 2009 capital expenditures program primarily with cash flow and available credit facilities.

Triton is a Calgary, Alberta based corporation engaged in the exploration, development and production of petroleum and natural gas. The Corporation's common shares are listed on the TSX Venture Exchange under the trading symbol "TEZ".

Forward-Looking Statements

This news release may include forward-looking statements including opinions, assumptions, estimates and management's assessment of future plans and operations, capital expenditures and method of funding thereof, the number and location of wells to be drilled and the associated levels of risk, and sources of capital. When used in this document, the words "anticipate," "believe," "estimate," "expect," "intent," "may," "project," "plan", "should" and similar expressions are intended to be among the statements that identify forward-looking statements. Forward-looking statements are subject to a wide range of risks and uncertainties, and although the Corporation believes that the expectations represented by such forward-looking statements are reasonable, there can be no assurance that such expectations will be realized. Any number of important factors could cause actual results to differ materially from those in the forward-looking statements including, but not limited to, risks associated with oil and gas exploration, development, exploitation, results from testing, production, marketing and transportation, the volatility of oil and gas prices, currency fluctuations, the ability to implement corporate strategies, the state of domestic capital markets, the ability to obtain financing, incorrect assessment of the value of acquisitions, failure to realize the anticipated benefits of acquisitions, changes in oil and gas acquisition and drilling programs, delays resulting from inability to obtain required regulatory approvals, delays resulting from inability to obtain drilling rigs and other services, delays in tie-in operations, results from testing, environmental risks, competition from other producers, imprecision of reserve estimates, changes in general economic conditions and other factors more fully described from time to time in the reports and filings made by Triton with securities regulatory authorities. Readers are cautioned not to place undue reliance on forward-looking statements, as no assurances can be given as to future results, levels of activity or achievements. Except as required by applicable securities laws, the Corporation does not undertake any obligation to publicly update or revise any forward-looking statements.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this news release.

Contact Information

  • Triton Energy Corp.
    Michael S. Zuber
    President & CEO
    (403) 266-5541 ext. 222
    (403) 266-5579 (FAX)
    Email: mzuber@tritonenergy.ca
    or
    Triton Energy Corp.
    Dean J. Schultz
    Vice President, Finance & CFO
    (403) 266-5541 ext. 229
    (403) 266-5579 (FAX)
    Email: dschultz@tritonenergy.ca