Triton Announces Commencement of Q1 Drilling Program

Triton Announces Commencement of Q1 Drilling Program

Triton Energy Corp. is pleased to announce that the Corporation’s first quarter 2007 drilling program has commenced. A first quarter capital budget of $6.6 million includes the drilling of 7-9 operated wells located in the Sullivan Lake (92.5% WI), Bruce (100% WI before payout and 87.5% WI after payout) and Inland (100% WI) areas in east central Alberta and the Newton (75%-100% WI) and Giroux Lake (75% WI) areas in west central Alberta. Triton has secured a drilling rig for its first quarter 2007 drilling program and the first well, at Sullivan Lake, commenced drilling on the weekend. The rig is scheduled to move to the Bruce area next to drill 1 well and then to the Inland area where 2 wells are currently planned. Drilling in the Newton (2 wells) and Giroux Lake (1-2 wells) areas is planned to follow.

Additionally, Triton is participating for a 20% carried WI through drilling and completion and capping or abandoning in a deep test well in the Foothills area in west central Alberta (see the Corporation’s news releases dated October 25, 2006 and January 26, 2007 for further details). This potentially high impact test well is currently expected to reach total depth of 5,284 meters in March/April 2007.

Triton is a Calgary, Alberta based corporation engaged in the exploration, development and production of petroleum and natural gas. The Corporation’s common shares are listed on the TSX Venture Exchange under the trading symbol “TEZ”.

Forward-Looking Statements

This news release may include forward-looking statements including opinions, assumptions, estimates and management’s assessment of future plans and operations, wells to be drilled, timing of drilling of wells and expected depth. When used in this document, the words “anticipate,” “believe,” “estimate,” “expect,” “intent,” “may,” “project,” “plan”, “should” and similar expressions are intended to be among the statements that identify forward-looking statements. Forward-looking statements are subject to a wide range of risks and uncertainties, and although the Corporation believes that the expectations represented by such forward-looking statements are reasonable, there can be no assurance that such expectations will be realized. Any number of important factors could cause actual results to differ materially from those in the forward-looking statements including, but not limited to, risks associated with oil and gas exploration, development, exploitation, production, marketing and transportation, the volatility of oil and gas prices, currency fluctuations, the ability to implement corporate strategies, the state of domestic capital markets, the ability to obtain financing, incorrect assessment of the value of acquisitions, failure to realize the anticipated benefits of acquisitions, changes in oil and gas acquisition and drilling programs, delays resulting from inability to obtain required regulatory approvals, delays resulting from inability to obtain drilling rigs and other services, delays in tie-in operations, results from testing, environmental risks, competition from other producers, imprecision of reserve estimates, changes in general economic conditions and other factors more fully described from time to time in the reports and filings made by Triton with securities regulatory authorities. Readers are cautioned not to place undue reliance on forward-looking statements, as no assurances can be given as to future results, levels of activity or achievements. Except as required by applicable securities laws, the Corporation does not undertake any obligation to publicly update or revise any forward-looking statements.

Disclosure provided herein in respect of barrels of oil equivalent (“boe”) may be misleading, particularly if used in isolation. A boe conversion ratio of 6 mcf: 1 bbl is based on an energy equivalency conversion method primarily applicable at the burner tip and does not represent a value equivalency at the wellhead.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this news release.


Michael S. Zuber Triton Energy Corp. President & CEO (403) 266-5541 Ext. 222 (403) 266-5579 (FAX)


Dean J. Schultz Triton Energy Corp. Vice President, Finance & CFO (403) 266-5541 Ext. 229 (403) 266-5579 (FAX)


Source: Triton Energy Corp.

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