Triton Energy Corp.
TSX VENTURE : TEZ

Triton Energy Corp.

March 26, 2007 19:17 ET

Triton Completes Q1 Drilling Program and Provides Update

CALGARY, ALBERTA--(CCNMatthews - March 26, 2007) - Triton Energy Corp. ("Triton" or the "Corporation") (TSX VENTURE:TEZ) announces that it has completed its first quarter 2007 drilling program, having drilled seven (6.43 net) operated wells resulting in four (3.68 net) successful natural gas wells, one (0.75 net) oil well currently under evaluation and two dry holes.

Two of the successful natural gas wells are located in areas where the Corporation has existing production, namely Inland (100% working interest) and Sullivan Lake (92.5% working interest). Another well is located in the Bruce area (100% working interest before payout and 87.5% working interest after payout) and the fourth successful natural gas well is located in the Newton area (75% working interest). Bruce and Newton are both new exploration areas for the Corporation and efforts are underway to acquire additional lands in both of these areas.

Triton also participated for a 20% carried working interest in a potentially high impact deep test well in the Foothills area in west central Alberta that was not successful.

Looking forward, Triton intends to tie-in at least three (2.68 net) of the aforementioned successful natural gas wells during the second quarter, following spring break-up, and currently plans to drill up to thirteen (10.9 net) additional wells in 2007. Some of this drilling is planned in areas where the Corporation currently has production and some is planned in two new exploration areas.

At Sullivan Lake, Triton recently acquired an additional 11 sections of undeveloped land, increasing Triton's total Sullivan Lake lands to 14 sections. With two (1.93 net) wells currently on production, one (0.93 net) well awaiting tie-in and 12 sections of undeveloped lands, Sullivan Lake is developing into a core property for the Corporation.

Triton is also participating in two new, potentially higher impact exploration prospects in the Willesden Green and Calais areas of west central Alberta.

At Willesden Green, Triton is participating for a 50% working interest (35% after completion) in a five section exploration prospect targeting natural gas in the Banff formation. Four analogous wells located within 6-10 km of the prospect area have produced 6-19 bcf of natural gas per well from the Banff formation at 2,800 meters, according to information in the public domain. This reflects exploration target size only, not anticipated results. A 17.6 square km proprietary 3-D seismic program has recently been shot by Triton and its partner covering the prospect lands and the data are currently being processed. If drill locations are identified by the 3-D seismic, a summer drilling program will be planned.

At Calais, Triton is participating for a 50% working interest (30% after payout) in a 12.5 section exploration prospect targeting light oil in the Montney formation at 1,800 meters. An analogous field approximately 6 km south of the prospect area has produced 6.8 million barrels of light (39 degree API) oil from 105 wells, according to information in the public domain. The Calais prospect is exploratory and therefore this is not intended to reflect anticipated results. One (0.5 net) well has been licensed and drilling operations are expected to commence in the second quarter, following spring break-up.

Additionally, Triton currently plans to drill two operated wells in the Lloydminster area (100% working interest) targeting heavier (17 degree API) oil in the Sparky formation. These wells will likely be summer drills.

The Corporation intends to release financial and operating results for the year and three months ended December 31, 2006 and file its annual audited consolidated financial statements and accompanying Management's Discussion and Analysis with securities regulatory authorities on or about March 30, 2007.
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, wells to be drilled, estimated target sizes, timing of drilling of wells, timing of tie-in of wells and timing of release of financial and operating results. 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, 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.

Disclosure provided herein in respect of barrels of oil equivalent ("boe") may be misleading, particularly if used in isolation. A boe conversion ratio of 6 mcf: 1 bbl is based on an energy equivalency conversion method primarily applicable at the burner tip and does not represent a value equivalency at the wellhead.

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

Contact Information