Calgary, Alberta – June 11, 2009 – Triangle Petroleum Corporation (the
“Company” or “Triangle”) (TSXV: TPE; OTCBB: TPLM)
today reported that it now
holds a working interest of 87% in the 475,000 gross acre Windsor Block in Nova Scotia.
Triangle has executed a definitive agreement with Contact Exploration Inc. (“Contact”)
to acquire Contact’s 30% working interest in the Windsor Block in exchange for agreeing
to provide Contact a 5.75% non-convertible gross overriding royalty interest. Contact
also received a cash payment of $270,000 and Triangle assumed the liabilities related to
Contact’s former working interest
.
