Triangle Petroleum Corporation (OTCBB: TPLM)
Triangle Petroleum Corporation (OTCBB: TPLM) is an exploration company focused primarily on the Fayetteville Shale project in Arkansas, the Barnett Shale project in Texas as well as on 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 assembled to optimize the Company’s opportunities through its operating subsidiaries, Elmworth Energy Corporation in Canada and Triangle USA Petroleum Corporation in the United States.
Advanced reservoir description techniques will compliment state-of-the-art 3-D seismic interpretations to optimize drill sites. Project specific drilling and well completion techniques will be employed to opimize 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 the Company.
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OPERATIONS
Barnett Shale Program
Triangle USA Petroleum Corporation is developing a gas focused exploration program in a joint-venture with Houston based Kerogen Resources Inc. The joint-venture will pursue opportunities in the Barnett Shale geographically located in the greater Fort Worth area. Geological screening of key areas has resulted in the acquisition of land and participation in several initial drilling programs. The Barnett Shale is believed to represent a repeatable program that has the potential to add near and long term gas production to the Company.
Fayetteville Shale Program
The Fayetteville Shale in the Arkoma basin, located in Arkansas, is an industry follow-up to the successful Barnett Shale development of the Fort Worth Basin in Texas. The Fayetteville Shale is a geologic equivalent to the Barnett Shale with a large exploration fairway that extends for a distance of approximately 150 miles. The Fayetteville Shale is believed by industry participants to be the next emerging shale gas play. Triangle USA Petroleum Corporation is developing this gas focused exploitation program in a joint-venture with Kerogen Resources Inc.
Rocky Mountain Program
Triangle USA Petroleum Corporation is developing oil and gas focused exploration programs in a joint-venture with Denver based, Hunter Energy Inc. The relatively under-explored Rocky Mountain basins have the potential for large new fields located at shallower depths than previous exploration programs of the last twenty years. The ability to secure large land positions on favorable geologic trends makes this an attractive program. Modern drilling and completions technology should assist greatly in the commercialization of the target reservoirs.
Western Canadian Program
Elmworth Energy Corporation is developing gas focused exploration programs in the greater Deep Basin area of the Western Canadian Sedimentary Basin. Significant potential exists in the moderately explored areas between Edson, Alberta and Fort St. John, British Columbia. The Upper Cretaceous to Triassic stratigraphic interval is the primary zone of interest. Detailed geological modeling and interpretation is being undertaken to guide the large scale 3-D seismic surveys that have been acquired. The Deep Basin area described has demonstrated commercial production from twenty-three horizons in this prolific multi-horizon area.
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