Table of Contents Table of Contents 2 List of Tables 4 List of Figures 5 Company Snapshot 7 Key Information 7 Company Overview 7 Triangle Petroleum Corporation, Valuation and Financial Data, 2011-2015 8 Triangle Petroleum Corporation, Share Price Performance, 2011-2015 8 Share Price Performance, 2011-2015 8 Key Valuation Metrics, 2011-2015 9 Triangle Petroleum Corporation, Production and Reserves Trends 10 Total Oil and Gas, Reserves and Production 10 Total Crude Oil and Natural Gas Production and Reserves Trend, 2011-2015 10 Total Crude Oil & Natural Gas Production and Reserves By Country/Region, 2011-2015 12 Total Crude Oil and Natural Gas Reserve Changes, 2011-2015 14 Crude Oil/Liquids Production and Reserve 15 Crude Oil/Liquids Production and Reserve Trend, 2011-2015 15 Crude Oil Production and Reserves By Country/Region, 2011-2015 16 Crude Oil/Liquids Reserve Changes, 2011-2015 18 Natural Gas Production and Reserve 19 Natural Gas Production and Reserve Trend, 2011-2015 19 Natural Gas Production and Reserves, By Country/Region, 2011-2015 20 Natural Gas Reserve Changes, 2011-2015 22 Total Crude Oil and Natural Gas Reserves Life Index 23 Total Crude Oil and Natural Gas Reserves Life Index, 2011-2015 23 Total Crude Oil and Natural Gas Reserves Life Index, By Country/Region, 2011-2015 24 Triangle Petroleum Corporation, E&P Costs Trends 26 Allocation of the Upstream Capital Expenditure 26 Upstream Capital Expenditure, 2011-2015 26 Acquisition Costs By Country/Region, 2011-2015 27 Exploration and Development Costs, By Country/Region, 2011-2015 29 Oil and Gas Cost Per boe, US$/boe 31 Oil and Gas Cost Per boe, US$/boe, 2011-2015 31 Oil and Gas Cost Per boe, US$/boe, By Country/Region, 2011-2015 33 Triangle Petroleum Corporation, Reserve Replacement Ratio 35 Oil and Gas Production Replacement Ratio 35 Oil and Gas Production Replacement Ratio, 2011-2015 35 Oil and Gas Production Replacement Ratio, By Country/Region, 2011-2015 37 Triangle Petroleum Corporation, Results of Oil & Gas Operations Trend 41 Oil and Gas Revenue and Expenses 41 Oil and Gas Revenue and Expenses, 2011-2015 41 Oil and Gas Revenue and Expenses, By Country/Region, 2011-2015 42 Oil and Gas Revenue and Expenses, Per boe 47 Oil and Gas Revenue and Expenses, By boe, 2011-2015 47 Oil and Gas Revenue and Expenses Per boe, By Country/Region, 2011-2015 48 Oil and Gas Performance Metrics 52 Triangle Petroleum Corporation, Land Holdings and Well Data 53 Developed and Undeveloped Acreage 53 Gross and Net Developed and Undeveloped Acreage, 2011-2015 53 Gross and Net Developed and Undeveloped Acreage, By Country/Region, 2011-2015 54 Well Statistics 57 Producible Oil and Gas Well, 2011-2015 57 Producible Oil and Gas Well, By Country/Region, 2011-2015 58 Exploration and Development Wells Drilled, 2011-2015 60 Exploration and Development Wells Drilled, By Country/Region, 2011-2015 61 Recent Developments 62 Triangle Petroleum Corporation - Recent Developments 62 Mar 24, 2016: Triangle Petroleum Announces The Hiring Of Advisors And Changes To Leadership Team 62 Dec 08, 2015: Triangle Petroleum Provides Financial Results And Operational Update For Third Quarter Fiscal Year 2016 62 Nov 09, 2015: Triangle Petroleum Provides Outcome Of Borrowing Base Redetermination And Interim Production Update 63 Sep 08, 2015: Triangle Petroleum Provides Financial Results And Operational Update For All Business Segments For Second Quarter Fiscal Year 2016 64 Jun 08, 2015: Triangle Petroleum Provides Financial Results And Operational Update For All Business Segments For First Quarter Fiscal Year 2016 65 Apr 13, 2015: Triangle Petroleum Provides Financial Results And Operational Update For All Business Segments For Fourth Quarter and Full Fiscal Year 2015 66 Feb 05, 2015: Triangle Petroleum Provides Fiscal Year 2016 Capital Budget And Guidance For All Business Segments 68 Appendix 70 Methodology 70 Coverage 70 Secondary Research 70 Primary Research 70 Data Information Sources 71 Company Source 71 SEC/Other Regulatory Filings 71 Other Sources 71 Expert Panel Validation 71 Data Definition 71 Oil and Gas Reserves 71 Units of Measure 72 About GlobalData 72 Disclosure 72 Disclaimer 72

List of Tables Table 1: Triangle Petroleum Corporation, Key Facts 7 Table 2: Triangle Petroleum Corporation, Share Price Performance, 2011-2015 8 Table 3: Triangle Petroleum Corporation, Key Valuation Metrics, 2011-2015 9 Table 4: Triangle Petroleum Corporation, Total Crude Oil and Natural Gas, Production and Reserves, mmboe, 2011-2015 11 Table 5: Triangle Petroleum Corporation, Total Crude Oil & Natural Gas Production and Reserves, By Country/Region, mmboe, 2011-2015 13 Table 6: Triangle Petroleum Corporation, Total Crude Oil and Natural Gas Reserve Changes, mmboe, 2011-2015 14 Table 7: Triangle Petroleum Corporation, Crude Oil Production and Reserves Metrics, mmbbl, 2011-2015 15 Table 8: Triangle Petroleum Corporation, Crude Oil Production and Reserves, By Country/Region, mmbbl, 2011-2015 17 Table 9: Triangle Petroleum Corporation, Crude Oil Reserve Changes, mmbbl, 2011-2015 18 Table 10: Triangle Petroleum Corporation, Natural Gas Production and Reserves Metrics, bcf, 2011-2015 19 Table 11: Triangle Petroleum Corporation, Natural Gas Production and Reserves, By Country/Region, bcf, 2011-2015 21 Table 12: Triangle Petroleum Corporation, Natural Gas Reserve Changes, bcf, 2011-2015 22 Table 13: Triangle Petroleum Corporation, Oil and Gas Reserves Life Index, Years, 2011-2015 23 Table 14: Triangle Petroleum Corporation, Oil and Gas Reserves Life Index, By Country/Region, Years, 2011-2015 25 Table 15: Triangle Petroleum Corporation, Upstream Capital Expenditure, US$ mil, 2011-2015 26 Table 16: Triangle Petroleum Corporation, Proved and Unproved Acquisition Costs, By Country/Region, US$ mil, 2011-2015 28 Table 17: Triangle Petroleum Corporation, Exploration and Development Costs, By Country/Region, US$ mil, 2011-2015 30 Table 18: Triangle Petroleum Corporation, Reserves Replacement, Finding and Development Costs, Finding Cost and Proved Acquisition Costs Per boe, US$/boe, 2011-2015 31 Table 19: Triangle Petroleum Corporation, Reserves Replacement, Finding and Development Costs, Finding Cost and Proved Acquisition Costs Per boe, US$/boe, By Country/Region, 2011-2015 34 Table 20: Triangle Petroleum Corporation, Oil and Gas Production Replacement Ratio, %, 2011-2015 35 Table 21: Triangle Petroleum Corporation, 3-Year Wt.Avg. Oil and Gas Production Replacement Ratio, By Country/Region, %, 2011-2015 40 Table 22: Triangle Petroleum Corporation, Revenue and Expenses, US$ mil, 2011-2015 41 Table 23: Triangle Petroleum Corporation, Revenue and Expenses, By Country/Region, US$ mil, 2011-2015 46 Table 24: Triangle Petroleum Corporation, Oil and Gas Revenue and Expenses, US$/boe, 2011-2015 47 Table 25: Triangle Petroleum Corporation, Oil and Gas Revenue and Expenses, US$/boe, By Country/Region, 2011-2015 51 Table 26: Triangle Petroleum Corporation, Oil and Gas Performance Metrics, 2011-2015 52 Table 27: Triangle Petroleum Corporation, Land Holdings (Developed and Undeveloped Acreage), Acres, 2011-2015 53 Table 28: Triangle Petroleum Corporation, Land Holdings (Developed and Undeveloped Acreage), By Country/Region, Acres, 2011-2015 56 Table 29: Triangle Petroleum Corporation, Producible Oil and Gas Wells, 2011-2015 57 Table 30: Triangle Petroleum Corporation, Producible Oil and Gas Wells, By Country/Region, 2011-2015 59 Table 31: Triangle Petroleum Corporation, Exploratory and Developed Wells, 2011-2015 60 Table 32: Triangle Petroleum Corporation, Exploratory and Developed Wells, By Country/Region, 2011-2015 61 List of Figures Figure 1: Triangle Petroleum Corporation, Share Price Performance, USD/Share, 2011-2015 8 Figure 2: Triangle Petroleum Corporation, Key Valuation Metrics, EV/Production ($/boed), EV/Proved Reserve (US$/boe), 2011-2015 9 Figure 3: Triangle Petroleum Corporation, Total Crude Oil and Natural Gas, Production and Reserves, mmboe, 2011-2015 10 Figure 4: Triangle Petroleum Corporation, Total Oil & Gas Reserves, End of Period, By Country/Region, mmboe, 2011-2015 12 Figure 5: Triangle Petroleum Corporation, Total Oil & Gas Production, By Country/Region, mmboe, 2011-2015 12 Figure 6: Triangle Petroleum Corporation, Total Crude Oil and Natural Gas Reserve Changes, mmboe, 2015 14 Figure 7: Triangle Petroleum Corporation, Crude Oil Production and Reserves Metrics, mmbbl, 2011-2015 15 Figure 8: Triangle Petroleum Corporation, Oil Reserves, End of Period, By Country/Region, mmbbl, 2011-2015 16 Figure 9: Triangle Petroleum Corporation, Oil Production, By Country/Region, mmbbl, 2011-2015 16 Figure 10: Triangle Petroleum Corporation, Crude Oil Reserve Changes, mmbbl, 2015 18 Figure 11: Triangle Petroleum Corporation, Natural Gas Production and Reserves Metrics, bcf, 2011-2015 19 Figure 12: Triangle Petroleum Corporation, Gas Reserves, End of Period, By Country/Region, bcf, 2011-2015 20 Figure 13: Triangle Petroleum Corporation, Gas Production, By Country/Region, bcf, 2011-2015 20 Figure 14: Triangle Petroleum Corporation, Natural Gas Reserve Changes, bcf, 2015 22 Figure 15: Triangle Petroleum Corporation, Oil and Gas Reserves Life Index, Years, 2011-2015 23 Figure 16: Triangle Petroleum Corporation, Gas Reserve Life Index, By Country/Region, Years, 2011-2015 24 Figure 17: Triangle Petroleum Corporation, Oil & Gas Reserve Life Index, By Country/Region, Years, 2011-2015 24 Figure 18: Triangle Petroleum Corporation, Oil Reserve Life Index, By Country/Region, Years, 2011-2015 25 Figure 19: Triangle Petroleum Corporation, Upstream Capital Expenditure, US$ mil, 2011-2015 26 Figure 20: Triangle Petroleum Corporation, Proved Acquisition Costs, By Country/Region, US$ mil, 2011-2015 27 Figure 21: Triangle Petroleum Corporation, Unproved Acquisition Costs, By Country/Region, US$ mil, 2011-2015 27 Figure 22: Triangle Petroleum Corporation, Development Costs, By Country/Region, US$ mil, 2011-2015 29 Figure 23: Triangle Petroleum Corporation, Exploration Costs, By Country/Region, US$ mil, 2011-2015 29 Figure 24: Triangle Petroleum Corporation, 3-Year Wt.Avg., Reserves Replacement, Finding and Development Costs, Finding Cost and Proved Acquisition Costs Per boe, US$/boe, 2011-2015 31 Figure 25: Triangle Petroleum Corporation, Oil & Gas Finding & Development Cost/boe, 3-Year Average, By Country/Region, US$/boe, 2011-2015 33 Figure 26: Triangle Petroleum Corporation, Oil & Gas Finding Cost per boe, 3-Year Average, By Country/Region, US$/boe, 2011-2015 33 Figure 27: Triangle Petroleum Corporation, Reserve Replacement Cost per boe, 3-Year Average, By Country/Region, US$/boe, 2011-2015 34 Figure 28: Triangle Petroleum Corporation, 3-Year Wt.Avg., Oil and Gas Production Replacement Ratio, %, 2011-2015 35 Figure 29: Triangle Petroleum Corporation, 3-Year Wt. Avg. Gas F&D Production Replacement, By Country/Region, %, 2011-2015 37 Figure 30: Triangle Petroleum Corporation, 3-Year Wt. Avg. Gas RRC Production Replacement, By Country/Region, %, 2011-2015 37 Figure 31: Triangle Petroleum Corporation, 3-Year Wt. Avg. Oil & Gas F&D Production Replacement, By Country/Region, %, 2011-2015 38 Figure 32: Triangle Petroleum Corporation, 3-Year Wt. Avg. Oil & Gas RRC Production Replacement, By Country/Region, %, 2011-2015 38 Figure 33: Triangle Petroleum Corporation, 3-Year Wt. Avg. Oil F&D Production Replacement, By Country/Region, %, 2011-2015 39 Figure 34: Triangle Petroleum Corporation, 3-Year Wt. Avg. Oil RRC Production Replacement, By Country/Region, %, 2011-2015 39 Figure 35: Triangle Petroleum Corporation, Revenue and Expenses, US$ mil, 2011-2015 41 Figure 36: Triangle Petroleum Corporation, Depreciation, Depletion and Amortization From Upstream Oil & Gas Operations, By Country/Region, US$ mil, 2011-2015 42 Figure 37: Triangle Petroleum Corporation, Income Tax Provision (Benefit) From Upstream Oil & Gas Operations, By Country/Region, US$ mil, 2011-2015 42 Figure 38: Triangle Petroleum Corporation, Net Income/ Loss From Upstream Oil & Gas Operations, By Country/Region, US$ mil, 2011-2015 43 Figure 39: Triangle Petroleum Corporation, Oil & Gas Revenue, By Country/Region, US$ mil, 2011-2015 43 Figure 40: Triangle Petroleum Corporation, Profit (loss) Before Taxation From Upstream Oil & Gas Operations, By Country/Region, US$ mil, 2011-2015 44 Figure 41: Triangle Petroleum Corporation, Production Costs, By Country/Region, US$ mil, 2011-2015 44 Figure 42: Triangle Petroleum Corporation, Total Expenses From Upstream Oil & Gas Operations, By Country/Region, US$ mil, 2011-2015 45 Figure 43: Triangle Petroleum Corporation, Oil and Gas Revenue and Expenses, US$/boe, 2011-2015 47 Figure 44: Triangle Petroleum Corporation, Income Tax/(Benefit) per boe, By Country/Region, US$/boe, 2011-2015 48 Figure 45: Triangle Petroleum Corporation, Lifting Cost per boe, By Country/Region, US$/boe, 2011-2015 48 Figure 46: Triangle Petroleum Corporation, Annual Net Income per boe, By Country/Region, US$/boe, 2011-2015 49 Figure 47: Triangle Petroleum Corporation, Oil & Gas Revenue per boe, By Country/Region, US$/boe, 2011-2015 49 Figure 48: Triangle Petroleum Corporation, Total DD&A per boe, By Country/Region, US$/boe, 2011-2015 50 Figure 49: Triangle Petroleum Corporation, Total Revenue per boe, By Country/Region, US$/boe, 2011-2015 50 Figure 50: Triangle Petroleum Corporation, Oil and Gas Performance Metrics, 2011-2015 52 Figure 51: Triangle Petroleum Corporation, Land Holdings (Developed and Undeveloped Acreage), Acres, 2011-2015 53 Figure 52: Triangle Petroleum Corporation, Total Gross Undeveloped Acreage, By Country/Region, Acres, 2011-2015 54 Figure 53: Triangle Petroleum Corporation, Total Net Undeveloped Acreage, By Country/Region, Acres, 2011-2015 54 Figure 54: Triangle Petroleum Corporation, Total Gross Developed Acreage, By Country/Region, Acres, 2011-2015 55 Figure 55: Triangle Petroleum Corporation, Total Net Developed Acreage, By Country/Region, Acres, 2011-2015 55 Figure 56: Triangle Petroleum Corporation, Producible Oil and Gas Wells, 2011-2015 57 Figure 57: Triangle Petroleum Corporation, Gross Productive Oil & Gas Wells, By Country/Region, Number, 2011-2015 58 Figure 58: Triangle Petroleum Corporation, Net/Gross Oil & Gas Ratio, By Country/Region, %, 2011-2015 58 Figure 59: Triangle Petroleum Corporation, Net Productive Oil & Gas Wells, By Country/Region, Number, 2011-2015 59 Figure 60: Triangle Petroleum Corporation, Exploratory and Developed Wells, 2011-2015 60