ATLANTA, Oct. 25, 2006 (PRIMEZONE) -- Market-Pulse.com announces its trade alert for Triangle Petroleum Corporation (OTCBB:TPLM). According to Bernard R. Schmitt of Market Pulse, "The company just had excellent news out before Wednesday's trading announcing their wholly owned subsidiary, Triangle USA Petroleum Corporation, commenced 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."
In a press release issued Wednesday by TPLM, Ron Hietala, President of Triangle USA commented, "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."
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.
Triangle USA is pleased with the accelerated time frame that has been established between the start of the project to the commencement of drilling operations. The objective of Triangle USA's focus is the conversion of a technically guided land acquisition program to specific drilling opportunities in an efficient time frame. The subsurface information being collected along with the stimulation data will assist the company in developing an effective Fayetteville Shale completion strategy. 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.
The Fayetteville Shale in the Arkoma basin is an industry follow-up to the successful Barnett Shale development of the Fort Worth Basin in Texas. For more information on this new emerging shale gas play, please visit http://www.aapg.org/explorer/2006/02feb/arkoma_basin.cfm.
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.
For more information please visit www.trianglepetroleum.com.
About Market-Pulse.com
Market Pulse LLC, the owner and operator of Market-Pulse.com (collectively referred to as "MP"), is a leading investor relations firm whose primary focus is promoting awareness among brokers, investors, and others in the investment community who are interested in small- and micro-cap companies. MP is dedicated to helping publicly traded companies gain the exposure they need to move forward with the development of their business plans. MP's goal is to feature equity investments in micro- or small-capitalization companies that have the potential for long-term appreciation. MP provides investors with a complete suite of online interactive financial data and tools that includes quotes, charts, company profiles, news, market commentary and SEC filings, just to name a few. MP offers a free financial newsletter. To subscribe or get more information, visit our home page located at www.market-pulse.com.
Information contained herein is the opinion of MP and is intended to be used strictly for informational purposes. You should be aware that MP attempts to assure itself of the accuracy of the information contained in the analyses it publishes. In this regard, MP does, at times, rely on the accuracy of information supplied to it by the companies which are the subject of MP's analyses and/or parties related to those companies. MP also relies on the accuracy and integrity of information that is contained in company press releases and reports filed with the SEC. The companies mentioned in this publication have not approved the content or timing of the information being published unless otherwise noted.
MP, because it relies on information supplied by various third parties disclaims any responsibility for the accuracy of such information. Any investor considering making an investment in any security which has been the subject of a MP analysis or opinion should, before making any such investment, consult with his/her market professional and/or do his/her own independent research regarding the company which is the subject of an MP opinion, recommendation or analysis. Information regarding companies which MP has opined upon is normally available from many sources including the subject company's filings with the SEC and various press releases issued by the company.
You should be aware that MP is often compensated for issuing analyses, recommendations or opinions concerning particular companies. Its opinion is therefore not unbiased and you should consider this factor when evaluating MP's statements regarding a company. MP has been compensated sixty thousand dollars from Triangle Petroleum Corporation. MP's officers and directors reserve the right to buy additional shares of the companies discussed in this opinion and may profit in the event those shares rise in value. When MP receives free trading shares as compensation for a profiled company, MP may sell part or all of any such shares during the period in which MP is performing such services.