7.29.2007

Triangle's Barnett Acreage Sale: The Company recently received approximately $1 million from the sale of its 27% interest in 12,100 gross acres in northeast Hill County in Texas. This was undeveloped acreage and does not include the Company's ownership in eight lower working interest Barnett Shale wells that are in various stages of production and completion.Mark Gustafson, Triangle's President and CEO, commented 'Following the acquisition of the 584,000 gross acres of land in our Eastern Canada shale project, we have elected to focus on our three core areas in Eastern Canada, the Fayetteville and Rocky Mountain projects for the balance of this year. The knowledge and experience gained from our participation in the Barnett shale project has been very important for moving forward in the Fayetteville shale project and just as importantly for our Eastern Canadian shale project.'

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