Triangle Petroleum Corporation says that the securities commissions for the provinces of Alberta and Ontario have issued a decision document (the "Decision"), which has the effect of granting Triangle exemptive relief from the disclosure requirements contained in National Instrument 51-101 - Standards of Disclosure for Oil and Gas Activities ("NI 51-101").

As a result of the Decision, and provided that certain conditions set out in the Decision are met on an on-going basis, the Company will not be required to comply with the requirements of NI 51-101 and, accordingly, will not be required to file Form 51-101F1 - Statement of Reserves Data and Other Oil and Gas Information, Form 51-101F2 - Report on Reserves Data by Independent Qualified Reserves Evaluator or Auditor and From 51-101F3 - Report of Management and Directors on Oil and Gas Disclosure. In lieu of such filings, the Company is permitted, pursuant to the Decision, to provide disclosure in respect of its oil and gas activities in the form permitted by, and in accordance with, the legal requirements of the United States Securities and Exchange Commission, the United States Securities Act 1933, as amended, the United States Securities Exchange Act of 1934, as amended, the United States Sarbanes-Oxley Act of 2002, and the rules of the NYSE MKT (collectively, the "U.S. Rules"). The Company is required to file such disclosure with the securities regulatory authority or regulator in the provinces of British Columbia, Alberta and Ontario as soon as practicable after such disclosure is filed pursuant to the U.S. Rules.

Tags: Triangle Petroleum Corporation