TPLM – Triangle Petroleum Corporation
Stock Guru Profile TPLM
Triangle’s Ability to Drill in Tight Gas Sands
Triangle understands the technological issues involved in drilling in tight gas sands. Triangle is drilling and completing four horizontal wells at depths of approximately 6,000 feet.
In its Johnson County Project , Triangle, and its joint venture partner Kerogen Resources Inc. of Houston, has acquired a 3-D seismic survey over its proposed drilling location. The results of the seismic interpretations support the joint venture plans to drill a horizontal Barnett well in the first quarter of 2007.
Unlike conventional resources, unconventional gas is more difficult to produce because of low permeability.
Unconventional gas is classified into four primary categories: tight gas sands, CBM, Devonian shale, and natural gas hydrates. What these resources have in common is the use of new technology development produced at market-clearing prices and Triangle has benefitted from the market prices of gas and employs new technology in accessing this gas.
Some of the technology that has aided development of unconventional gas resources include lateral wells, the ability to stay in thin zones and to identify natural fractures in these very low permeability formations.
Improvement in seismic, 3D, 4D, vertical seismic profiling across wells help delineate these smaller, hard-to-see targets. Well completions and hydraulic fracturing technologies have improved as well.Development of tight sands, CBM, and other unconventional gas resources was stimulated 20 years ago by a combination of performance-based incentives in the form of the Section 29 federal tax credits, as well as research under both the Department of Energy and the Gas Research Institute. Both programs have ceased. Yet unconventional gas production continues to grow, demonstrating its commercial viability without incentives. Triangle has proven its ablity to do just that.
Sergei Stetsenko, President/CFO
Source: Triangle Petroleum Corporation and Oil and Gas Journal
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. Source: TRIANGLE PETROLEUM CORPORATION
Forward Looking Statement: This news release may contain forward-looking statements made pursuant to the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. While these statements are meant to convey to the public the company’s progress, business opportunities and growth prospects, readers are cautioned that such forward-looking statements represent management’s opinion. While management believes such representation to be true and accurate based on the information available to the company, actual results may differ materially from those described. The company’s operations and business prospects are always subject to risks and uncertainties. Important facts that may cause actual results to differ are set forth in IMNR’s periodic filings with the U.S. Securities and Exchange Commission.
Disclosure: Pentony Enterprises LLC was compensated $21,000 from a non-controlling third party for profile coverage. Pentony Enterprises LLC is not a registered investment advisers or broker/dealers. Pentony Enterprises LLC makes no recommendation that the purchase of securities of companies profiled in this web site is suitable or advisable for any person or that an investment such securities will be profitable. In general, given the nature of the companies profiled and the lack of an active trading market for their securities, investing in such securities is highly speculative and carries a high degree of risk.
StockGuru.com is owned and operated by Pentony Enterprises LLC, 9555 Lebanon Road, Suite 103, Frisco, Texas 75035. Telephone: (214) 458-4258. Web: StockGuru.com. Email: Publisher@stockguru.com .
