2011-06-15-2011-05-24-2011-05-24

Acquired 42,000-net-acre Station prospect targeting Bakken/Three Forks formations in MT Williston Basin.

Triangle Petroleum Corp., Denver, (Amex: TPLM) has acquired approximately 42,000 net acres prospective for the Bakken and Three Forks formations in the Montana Williston Basin from an undisclosed seller for an undisclosed price.

The acquisition, called the Station prospect, is in an undisclosed area of Montana in area prospective for both the Middle Bakken and Three Forks formations. The acreage is largely contiguous and Triangle plans to operate 100% of all acquired acres. Due to ongoing leasing efforts and competitive concerns, Triangle is not disclosing the location of the prospect or the price paid.

The deal brings Triangle's total net acreage position in the Williston Basin to approximately 72,000 net acres and brings its total operated acres to approximately 51,000 net acres.

Triangle chief executive Peter Hill says, "The Station prospect acquisition brings us closer to our long-term goal of 100,000 net acres and a two-thirds operated and one-third non-operated leasehold position. The Station prospect is located in a thermally mature area of the basin and provides us with a significant number of net drilling locations in a largely contiguous block."