DENVER, COLORADO — (Marketwire) — 04/16/12 — Triangle Petroleum Corporation (“Triangle” or “the Company”) (NYSE Amex: TPLM) today announced changes to its Executive Management Team, provided an operational update, and reported its fiscal 2012 results for the year ended January 31, 2012 (“FY2012”).
Changes to Executive Management Team
Operational Update
Acquisition, Strategic & Financial Update
Results for Fiscal Year 2012, ending January 31, 2012 (“FY2012”)
(i)totals may vary slightly from audited financials due to rounding; Please view complete audited financials in our form 10-K at .
About Triangle
Triangle (NYSE Amex: TPLM) is a high-growth oriented energy company with a current strategic focus on developing the Bakken Shale and Three Forks formations in the Williston Basin of North Dakota and Montana. Triangle has acquired approximately 83,000 net acres in the Williston Basin. For more information, visit Triangle–s Web site at .
Conference Call Information
Dr. Peter Hill, Executive Chairman of Triangle, and Jonathan Samuels, President and Chief Executive Officer of Triangle, will host a conference call at 7:00 AM MT (9:00 AM ET) today to provide an overview of results and current position, immediately followed by a question and answer session. Interested parties may dial in using the conference call number (877) 683-1144 (participant passcode #66361485). International parties may dial-in using (973) 935-8352. A recording of the conference call will be available through April 23, 2012 at (855) 859-2056 (participant passcode # 66361485), for international participants the encore dial-in number is (404) 537-3406.
Forward-Looking Statements Disclosure
This press release includes a number of forward-looking statements that reflect the current views of our management with respect to future events and financial performance. You can identify these statements by forward-looking words such as “may,” “will,” “expect,” “anticipate,” “believe,” “estimate,” “plan” and “continue,” or similar words. Those statements include statements regarding our and members of our management team–s intent, belief or current expectations as well as the assumptions on which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risk and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements.
Readers are urged to carefully review and consider the various disclosures made by us in these materials and our other reports filed with the U.S. Securities and Exchange Commission. These presentation materials should be read in conjunction with the sections entitled “Management–s Discussion and Analysis of Financial Condition and Results of Operations” in our Annual Report on Form 10-K, and with our “Consolidated Financial Statements” and notes thereto in our Annual Report on Form 10-K for the year ended January 31, 2012. Important factors currently known to our management could cause actual results to differ materially from those in forward-looking statements. We undertake no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes in the future operating results over time. We believe that these assumptions are based upon reasonable data derived from and known about our business and operations. No assurances are made that actual results of operations or the results of our future activities will not differ materially from these assumptions. Factors that could cause differences include, but are not limited to, history of losses, uncertainty of drilling results, inability to acquire additional leasehold interests or other oil and natural gas properties, inability to manage growth in our business, inability to control properties we do not operate, inability to protect against certain liabilities associated with our properties, lack of diversification, substantial capital requirements and limited access to additional capital, competition in the oil and natural gas industry, global financial conditions, oil and natural gas realized prices, seasonal weather conditions, marketing and distribution of oil and natural gas, the influence of our significant stockholders, government regulation of the oil and natural gas industry, potential regulation affecting hydraulic fracturing, environmental regulations, including climate change regulations, uninsured or underinsured risks, aboriginal claims, defects in title to our oil and natural gas interests, material weakness in our internal accounting controls, and foreign currency exchange risks. Furthermore, the forward-looking statements contained in this press release are made as of the date hereof, and we undertake no obligation, except as required by applicable securities legislation, to update publicly or to revise any of the included forward looking statements, whether as a result of new information, future events or otherwise. The forward-looking statements contained herein are expressly qualified by this cautionary statement.
Contacts:
Triangle Petroleum Corporation
Mike Grijalva
VP of Capital Markets
303-260-7125