Triangle Names New Executive

Triangle Petroleum Corp.

Ron Hietala, president of Elmworth Energy Corp. and Triangle USA Petroleum Corp.—both subsidiaries of Triangle Petroleum Corp.--said that Troy Wagner has been hired as the chief operating officer and vice president-engineering of both companies effective August 8, 2006.

Wagner has spent the past 10 years at a publicly traded oil and gas company where he was vice president-operations of two companies with combined production of approximately 36,000 barrels of oil equivalent per day, a capital expenditure budget of CDN$160 million, and an operating budget of CDN$110 million. His responsibilities included leading the technical teams (engineering and geoscience) and field-based staff, approving all capital projects, managing budgets, and integrating acquisitions.

A registered professional engineer, Wagner earned a bachelor's in mechanical engineering from the University of Calgary and an MBA from Queens University.

"Troy will have direct responsibility for all aspects of the company's operations," said Hietala. "He will have the mandate to develop new opportunities for the company in addition to implementing current projects. The strong combination of Troy's technical and business backgrounds along with his demonstrated track record will be a key asset to the company."

Triangle is an exploration company focused primarily on 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 formed to exploit the company's opportunity portfolio. Advanced reservoir description techniques will complement state of the art 3D 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.