Triton American Energy Provides Shareholder Update.HOUSTON -- Triton American Energy Corp. (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). PK: TRAE TRAE Time, Range, Azimuth, Elevation ), provider of natural gas and crude oil, is pleased to provide an update on the Companies current producing wells and the status of their financial statements. Year to date Triton is generating revenues from ten wells. The Companies large gas well known as Graciella Gonzales# 1 is currently producing at increased levels of output on a monthly basis. This well is anticipated to generate a significant source of revenue for the company in 2006. Within the last four months, natural gas has doubled in price. In addition to the Graciella Gonzales#1 well, Triton is also generating revenue from three oil wells and two gas wells within the Dyersdale Field as well as four wells within the Humble Field. Current wells which are anticipated to come online in early 2006, include eight wells within the Humble Field, the Gordy well in Sealy and the large Austin Chalk Enhanced Oil Recovery Enhanced Oil Recovery (EOR) is a generic term for techniques for increasing the amount of oil that can be extracted from an oil field. Using EOR, 30-60 %, or more, of the reservoir's original oil can be extracted [1] compared with 20-40% [2] (EOR EOR - exclusive or ) project known as the Blackwell Lease. This lease comprises over 31 oil wells. At this time, management is also working with their accounting firm and is awaiting a completed Balance Sheet. Management anticipates receiving all of the financials by year end. These financials will not be audited but will be signed off by the CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. as financial statements of the company. These financials will then be posted on the company website with a brief Management, Discussion and Analysis section known as "MDA (1) (Monochrome Display Adapter) The first IBM PC monochrome video display standard for text. Due to its lack of graphics, MDA cards were often replaced with Hercules cards, which provided both text and graphics. See PC display modes and Hercules Graphics. ". President and CEO, Louis Guidry states "Over the last six months, we have quietly positioned our company to have a strong 2006. We currently have ten oil and gas wells which are online and generating revenue. We also have several other wells which are anticipated to come online in early 2006, including the large Austin Chalk Enhanced Oil Recovery Project." About Triton American Energy Corporation: Triton American Energy is an independent crude oil and natural gas and oil exploration and production company based in Houston, Texas “Houston” redirects here. For other uses, see Houston (disambiguation). Houston (pronounced /'hjuːstən/) is the largest city in the state of Texas and the . The companies business plan is structured to take advantage of todays rising energy cost, while reducing as much financial risk as possible. Tritons niche or specialty are the small to moderate operations (usually 1-50 well projects). These wells can be worth hundreds of millions of dollars in revenue but require more hands-on attention then the major producers are willing to give. For more information, please contact Investor Relations Investor relations The process by which the corporation communicates with its investors. at (973) 351-3868 for Stephen Taylor or visit our website at: www.tritonamericanenergycorp.com Safe Harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. Statement under the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995: Except for historical information, the forward looking matters discussed in this news release are subject to certain risks and uncertainties which could cause the Company's actual results and financial condition to differ materially from those anticipated by the forward-looking statements including, but not limited to, the Company's liquidity and the ability to obtain financing, the timing of regulatory approvals, uncertainties related to corporate partners or third-parties, product liability, the dependence on third parties for manufacturing and marketing, patent risk, copyright risk, competition, and the early stage of products being marketed or under development, as well as other risks indicated from time to time in the Company's filings with the Securities and Exchange Commission. The Company assumes no obligation to update or supplement forward-looking statements that become untrue because of subsequent events. |
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