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Enter Symbol:
Rating: TPLM
Buy $2

Triangle Petroleum Corporation (AMEX: TPLM) reiterated to Buy with price target $2 by Canaccord Genuity

Thursday,  Dec 10, 2015  8:25 AM ET by Kristen Bailey

Canaccord Genuity reiterated Triangle Petroleum Corporation (AMEX: TPLM) to Buy with price
target $2. Canaccord Genuity rated Triangle Petroleum Corporation (AMEX: TPLM) to Buy with price target $10 on 12/18/2012, when the price was $5.89.

Triangle Petroleum Corporation (Triangle) is an exploration company focused on shale gas opportunities in the Maritimes Basin of Nova Scotia, Canada. The Company has a 57% working interest in 516,000 gross acres (294,000 net acres) on the Windsor Block in Nova Scotia. During the fiscal year ended January 31, 2009 (fiscal 2009), the Company acquired three-dimensional (3D) seismic, drilled and completed two vertical test wells, and drilled three vertical exploration wells, of which, the Company completed one. In addition, the Company has non-core interests in the Fayetteville Shale trend in Arkansas (20,344 gross acres, 10,172 net acres), the Barnett Shale trend in Texas (three producing wells), and conventional oil and gas properties in Alberta (two producing wells), Colorado (18,987 gross acres and 4,747 net acres) and Wyoming (17,307 gross acres and 4,327 net acres). In June 2008, the Company sold its Montana prospect, consisting of 9,692 net acres of land.

Canaccord Genuity’s global team of over 100 research professionals are inquisitive, experienced and committed to generating actionable investment ideas. We analyze over 725 companies in a broad range of market sectors, identifying value and defining risk for our clients.

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