Calgary, Alberta– May 27th, 2010 – Triangle Petroleum Corporation (the "Company" or "Triangle") (OTCBB: TPLM; TSXV: TPE) an oil and gas exploration and production company with assets in North Dakota and Eastern Canada, today provided an update to its operations.

 Bakken Shale Activity:

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Williams and McKenzie Counties North Dakota- As part of its current 8,000 net acre holding, Triangle has closed a definitive sale and purchase agreement for 2,600 net acres, which includes 15 net bo/d of production and a 30% share of associated surface facilities and assets. Triangle paid a total consideration of $3.2mm, which will be paid in the form of future well carry capped on a per well basis. The acreage is an extension of the Elm Coulee area and will be operated by Kodiak Oil and Gas as part of their Grizzly Project.

McKenzie County North Dakota- Triangle will also participate in the Roedeske Federal #12-21H well with an approximate 15% WI. The well will spud on a 1280 spacing unit and will be completed with a planned 22-stage frac job. Operations are anticipated to commence in July 2010 with XTO as operator.

 Canadian Developments:

Alberta- Triangle closed on the sale of an existing wellbore and associated acreage for $1mm in cash

Nova Scotia- the company has established a data room and continues to seek a partner for the drilling of an onshore well to test a conventional structure (115-427 bcf range of gas resource potential) in the development of its 475,000 gross acres in the Maritimes, Windsor Basin.