StockGuru Blog: Triangle Petroleum Corporation – Unlocking the Secrets in Shale

TPLM – Triangle Petroleum Corporation – (OTCBB: GDVI)
Stock Guru Profile TPLM

Triangle Petroleum Corporation (TPLM) announced the commencement of drilling operations on its Fayetteville Shale program located in Arkansas. This first well has resulted from a pooling arrangement between Triangle USA’s Arkoma joint venture with Kerogen Resources and an experienced local operator. The initial test well, which is located in Conway County, Arkansas, will be a horizontal lateral. The drilling and evaluation stage is anticipated to take approximately thirty days, after which a completion program will be designed incorporating the new data from this exploration test.

“Shale gas is going to change the landscape of the oil and gas industry as we know it today,” says Tom Harris, president of Kerogen Resources Inc. “And even though it’s played in the past a subsidiary role [production is] going to climb. I think it’ll surpass coalbed methane in years to come.”

Privately held Kerogen Resources is a Houston-based startup devoted exclusively to shale gas. Harris and co-founder Murray Grigg, Kerogen’s senior vice-president, are former executives of Canadian Hunter Exploration Ltd., a Calgary-based 20th century success story now owned by ConocoPhillips Company.

Harris was Canadian Hunter’s exploration manager for three years. He also spent 12 years in technical and management posts at Amoco Production Company.

Stay tuned as we learn what shale production means to the future of exploration and examine this company’s focus and why it is an important trend!

Sergei Stetsenko, President/CFO
Source: Triangle Petroleum Corporation
Suite 1110
521 – 3 Avenue Sw
Calgary, BC T2P 3T3
Phone: (403) 262-4471
Website: http://www.trianglepetroleum.com.

About Triangle Petroleum Corporation – Triangle is an exploration company focused on the Barnett Shale project in Texas, the Fayetteville Shale project in Arkansas, large resource plays in the Deep Basin area of Western Canada and in select areas of the western United States. An experienced team comprising technical and business skills has been formed to exploit the Company’s opportunity portfolio. Advanced reservoir description techniques will complement state of the art 3-D seismic interpretations to optimize drill sites. Project specific drilling and well completion techniques will be employed to optimize the production potential for each new pool. A land acquisition strategy employing traditional and new business models will be used to secure the opportunities for Triangle.

Cautionary Note to U.S. Investors — The United States Securities and Exchange Commission (”SEC”) permits oil and gas companies, in their filings with the SEC, to disclose only proved reserves that a company has demonstrated by actual production or conclusive formation tests to be economically and legally producible under existing economic and operating conditions. We use certain terms in this press release, such as probable, possible and potential, that the SEC’s guidelines strictly prohibit us from including in filings with the SEC. U.S. Investors are urged to consider closely the disclosure in TPLM’s Form 10-KSB, File No. 0-51321, available from us at Suite 1110, 521 – 3 Avenue SW, Calgary, Alberta T2P 3T3 Canada. You can also obtain this form from the SEC by calling 1-800-732-0330.

Safe Harbor Statement. This news release includes statements about expected future events and/or results that are forward-looking in nature and subject to risks and uncertainties. Forward-looking statements in this release include, but are not limited to, the amount of funds the Company may receive, the Company’s proposed acquisition and development of properties, including drilling projects. It is important to note that actual outcomes and the Company’s actual results could differ materially from those in such forward-looking statements. Factors that could cause actual results to differ materially include the possibility that additional investments will not be made or that appropriate opportunities for development will not be available or will not be properly developed. For additional risk factors about our Company, readers should refer to risk disclosure contained in our reports filed with the Securities and Exchange Commission.