Triangle Petroleum – Day One Breakout Notes

Jonathan Samuels, President and Chief Executive Officer of Triangle Petroleum (TPLM), presented today at EnerCom’s The Oil & Gas Conference® 17. Triangle Petroleum is a growth-oriented oil and gas exploration and development company that is focused solely on the Bakken oil play in the Williston Basin of North Dakota and Montana. Since entering the basin in early 2010, the company has acquired approximately 83,400 net acres of prospective for the Bakken and Three Forks formations. Triangle is directing resources toward its operated program to develop its consolidated positions in McKenzie and Williams counties in the core of North Dakota.

During the company’s breakout session, management was asked the following questions:

• What are you seeing around Station right now?
• You’ve showed $25 million in new infrastructure, but this was not discussed in your presentation. Where is this money going and what are the plans in changes to the business model surrounding it?
• Where does the relationship with Oppenheimer stand?
• You sold a small piece of Station, how did that come about? Are their further plans for actions like these?
• Ideally you want 4-6 rigs across your acreage, what timeframe does this work on?
• You talked about picking up a unit here and there; how does the volatility in oil prices affect this plan of action?
• What did Rockpile learn and what implications did this learning curve have?
• How did your operations people on Triangle’s side feel about working with Rockpile?
• How many stages is Rockpile completing per day?
• Where do you stand about where your working interest is at this time?
• How does your average interest today compare to 9-12 months ago?

Click here for Triangle Petroleum’s webcast.

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