Triton Energy Corp.

Triton Energy Corp.

November 11, 2008 09:00 ET

Triton Announces Change to Normal Course Issuer Bid

CALGARY, ALBERTA--(Marketwire - Nov. 11, 2008) -


Triton Energy Corp. ("Triton" or the "Corporation")(TSX VENTURE:TEZ) announced today that it has requested and received a modification to the terms of its Normal Course Issuer Bid ("NCIB") from the TSX Venture Exchange. Pursuant to the TSX Venture Exchange rules, the Corporation was previously limited to purchasing for cancellation up to 2% of Triton's total issued and outstanding common shares in any 30 day period. Triton applied and received approval to increase the limitation to purchasing for cancellation up to 4% of the Corporation's total issued and outstanding common shares in any 30 day period. Triton is able to purchase up to a maximum of 3,192,000 common shares of the Corporation during the course of the Corporation's NCIB. The NCIB commenced on October 9, 2008 and will terminate on October 8, 2009 or such earlier time as the NCIB is completed or terminated at the option of Triton.

As at the date hereof, Triton has purchased for cancellation 708,500 common shares under the NCIB since it was first approved on October 7, 2008, of which 334,500 common shares were cancelled on October 30, 2008 and 374,000 common shares were cancelled on November 3, 2008. The price which the Corporation will pay for any shares under the NCIB will be the market price at the time of purchase. Purchases will be made on the open market through the TSX Venture Exchange. The brokerage firm conducting the normal course issuer bid on behalf of Triton is Acumen Capital Finance Partners Limited.

Management of Triton believes that, from time to time, the market price of the Common Shares may not fully reflect the underlying value of the Common Shares and that at such times the purchase of Common Shares would be in the best interests of all shareholders of the Corporation. Such purchases will increase the proportionate interest of, and may be advantageous to, all remaining shareholders. In addition, the purchases by Triton may increase liquidity to shareholders wishing to sell their Common Shares.

This news release shall not constitute an offer to sell or a solicitation of an offer to buy the securities in any jurisdiction. The common shares of Triton will not be and have not been registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States, or to a U.S. person, absent registration or applicable exemption therefrom.

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".

This news release may include forward-looking statements including opinions, assumptions, estimates and management's views and expectations. When used in this document, the words "anticipate," "believe," "estimate," "expect," "intent," "may," "project," "plan", "should", "scheduled" 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 the state of domestic capital markets, delays resulting from inability to obtain required regulatory approvals, 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.

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