Triangle Petroleum Corporation has now drilled two exploration test wells into the Horton Bluff shale formation on its 516,000 gross acre land position in Nova Scotia, Canada. The Horton Bluff shale formation is the exploration target for an unconventional gas resource play.

Drilling and Evaluation Programs - The following is a summary of the two wells drilled in the Company’s Windsor Basin land block.

The first well, Kennetcook #1, reached a total depth of 4,390 feet and was rig released on September 15, 2007 after running casing to total depth. Kennetcook #1 is located 25 miles west of the community of Truro, Nova Scotia. This well was extensively cored over an interval of 1,150 feet. Advanced well log data was acquired on this well and the data is currently being integrated with the special core measurements performed by service companies with extensive unconventional shale gas expertise.

The second well, Kennetcook #2, reached a total depth of 6,350 feet and was rig released on October 13, 2007 after running casing to total depth. Kennetcook #2 is located approximately two miles north-west of Kennetcook #1 and was cored over an interval of 430 feet. Similar logging programs to Kennetcook #1 were performed and the integration with shale gas laboratory measurements is currently underway. Based upon preliminary log analysis, the primary shale zone in Kennetcook # 2 is approximately 500 feet thick.

Management has concluded that a comprehensive hydraulic fracture stimulation (“completion”) program is warranted to assess the Horton Bluff deliverability. The Kennetcook #1 well will be completed first with the results of this operation used to guide the completion planning for Kennetcook #2.

Tags: Triangle Petroleum Corporation