Triangle Tests Positive at Kennetcook #2, Plans Multi-Well Drilling Program

Triangle Petroleum is preparing to conclude a final flow test on the Kennetcook #2 vertical test well in the Windsor Block in Nova Scotia, Canada. This test well has flowed up to 60 thousand cubic feet of gas per day. Following the installation of an electric submersible pump, all frac water and a small amount of formation water have been recovered from the well. The formation water appears to be limited in volume, and the Company believes the water source has been substantially depleted and does not appear to significantly impede gas flow. The Company will proceed with a pressure buildup test, to further enhance its understanding of reservoir properties and frac effectiveness.

Howard Anderson, Triangle's Vice-President of Engineering and Chief Operating Officer, stated, "The KC #1 and KC #2 vertical test wells have fulfilled their purpose by contributing valuable geological information, leading to the Ryder Scott Resource Potential report which indicates 69 TCF of original gas in place on a portion of the acreage within the Windsor Block. As a bonus, the KC #2 test well, although originally designed for geological data collection, has clearly demonstrated that the shale will freely produce gas into a vertical wellbore. The Company plans to use the data gleaned from the two wells and its extensive seismic database to embark upon a multi-well drilling program."


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