Triton Energy Corp.

Triton Energy Corp.

March 13, 2008 13:53 ET

Triton Announces Increased Credit Facility

CALGARY, ALBERTA--(Marketwire - March 13, 2008) - Triton Energy Corp. (TSX VENTURE:TEZ) ("Triton" or the "Corporation") announces that effective March 12, 2008 ATB Financial has increased the Corporation's credit facility to $7.5 million from the previous $2.3 million.

The increased credit facility combined with estimated 2008 cash flow is expected to fund the Corporation's previously announced $16.1 capital expenditures budget for 2008, which includes drilling up to fourteen (fourteen net) wells. Approximately fifty percent of Triton's budget is currently planned to be spent on lower risk prospects at Inland, Sullivan Lake, Lloydminster and Lanaway. Forty percent is budgeted for medium risk prospects at Newton, Alexander, Giroux Lake and Sullivan Lake, with the remaining ten percent reserved for one or more higher risk prospects yet to be determined.

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, the number and location of wells to be drilled 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