Triangle USA is involved in active drilling operations. Triangle USA currently has a working interest in 17,000 acres and plans to expand on this solid base through a number of initiatives which will also include new joint ventures with industry partners. This an exploration company focused primarily on the Fayetteville Shale project in Arkansas, the Barnett Shale project in Texas, 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 manages the Company’s opportunities through its operating subsidiaries, Elmworth Energy Corporation in Canada and Triangle USA Petroleum Corporation in the United States.
The Fayetteville Shale Project in the Arkoma basin is an industry follow-up to the successful Barnett Shale development of the Fort Worth Basin in Texas. For detailed information on this new emerging shale gas play, please visit http://www.aapg.org/explorer/2006/02feb/arkoma_basin.cfm.
Mr. Ron Hietala, President of Triangle USA notes “the unconventional shale gas programs in the Barnett Shale and now the Fayetteville Shale represent a significant growth opportunity for the Company. The time and resources invested to date will continue to surface new opportunities and provide a long term direction and value for our shareholders”.
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 our 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.
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