2010-11-04-2010-10-25-2010-10-25

Acquired 1,732 net undeveloped acres in Williams County in contiguous blocks

Denver-based Triangle Petroleum Corp. (OTCBB; Toronto Venture: TPLM; TPE) has acquired substantially all of the assets of privately held, Texas-based Williston Exploration LLC for up to $2.2 million in cash and up to 4.3 million shares of Triangle stock.

The assets consist of approximately 1,732 net undeveloped acres in Williams County, North Dakota, in contiguous blocks in three separate 1,280-acre drilling units. The deal will provide Triangle's first operated drilling locations.

The two-pronged deal is expected to close in December 2010 and in February 2011.