Triton Energy Corp.

Triton Energy Corp.

November 01, 2005 23:59 ET

Triton Announces Filing of and Receipt for Final Prospectus

CALGARY, ALBERTA--(CCNMatthews - Nov. 1, 2005) -


Triton Energy Corp. ("Triton" or the "Company") announces that it has filed a final prospectus with and received a corresponding receipt from the securities regulatory authorities in the provinces of Alberta, British Columbia, Saskatchewan and Ontario to raise a minimum of $10 million and a maximum of $12.5 million (the "IPO") through the sale of common shares and "flow-through" shares at a price $1.00 per common share and $1.20 per flow-through share, respectively. Up to 25% of the gross proceeds of the IPO may be issued as flow-through shares to a maximum of $3.0 million. A copy of the prospectus can be viewed at SEDAR, The TSX Venture Exchange has conditionally approved the listing of the securities. Listing is subject to Triton fulfilling all of the requirements of the TSX Venture Exchange, including distribution of these securities to a minimum number of public securityholders. The IPO is scheduled to close on or about November 15, 2005.

Acumen Capital Finance Partners Limited is acting as lead agent in a syndicate that includes Canaccord Capital Corporation, GMP Securities Ltd. and Raymond James Ltd. (collectively the "Agents"). The Company has granted the Agents a 15% over-allotment option on the common share portion of the offering exercisable for a period of 30 days from the date of closing of the IPO. Net proceeds from the IPO will be used to fund Triton's exploration activities and for general working capital.

Triton is a Calgary, Alberta based company engaged in the exploration, development and production of oil and natural gas.

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

Forward-Looking Statements

This press release may include forward-looking statements including opinions, assumptions, estimates and expectations of future production, cash flow and earnings. 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 Company 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 volatility of oil and gas prices, the ability to implement corporate strategies, the state of domestic capital markets, the ability to obtain financing, changes in oil and gas acquisition and drilling programs, operating risks, production rates, 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.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this Press Release.

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