Triangle to Begin Winter Drilling Program in Canada
Triangle Petroleum's subsidiary, Elmworth, has secured a drilling rig for it's Canadian winter 2005/2006 program with a start date of December 1, 2005. The 3,000 meter rig will be located in the south Grande Prairie Area. Crest Energy Consultants has been engaged by Elmworth to design and supervise all phases of the drilling and completion programs for the company in Canada.
Elmworth plans to work with industry partners to establish gas production in the greater Deep Basin area of Alberta and welcomes strategic partners and joint ventures. Elmworth's geo-science team is developing new prospects based on area experience and a recently acquired 3-D seismic survey.
Ron Hietala, President of Elmworth, states "we are fortunate to contract a drilling rig given the strong levels of activity in the industry right now and look forward to utilizing the very capable team at Crest for our drilling programs."
In addition, Triangle has secured the services of a qualified financial professional to oversee all financial reporting activities of the Company. Mr. Aly Musani has agreed to join the Company and its subsidiaries as Chief Financial Officer effective November 14, 2005. Mr. Musani received his Chartered Accountant designation in 1999 while employed by Deloitte & Touche in Calgary, Alberta. He has been working for the past six years in Calgary with a private and now public oilfield services firm that has experienced significant growth.
Mark Gustafson, President of Triangle, indicates "we are very confident that his integrity and skill set are a great fit for the people in our organization and to meet the growing financial and regulatory demands of our public company."
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