Tuesday, October 20, 2009

Gas from New Scotland could bring power to New England and New York.

New England.Image via Wikipedia

Nova Scotia (Gaelic for New Scotland) lies just north of New England where the North East gas pipeline travels down into the New England States and New York. The Horton Bluff lies in the Windsor Block of Nova Scotia, where a small gas driller, Triangle Petroleum Corporation, (TSX-V:TPE or OTCBB:TPLM) has been diligently drilling for natural gas on it's 475,000 acre play. It is a shale gas play that may be a sleeper and "under the radar", because of other, more high profile, U.S. gas plays.

If this field plays out the way Triangle believes it will, it will be more important than anything being currently developed in the south west U.S., because of it's quick access to the North East and it's hunger for green power. In fact, Triangle sold it's stake in Louisana to concentrate on this play this year.

Triangle, currently a penny stock trading at .15 today, is pure speculation, but I bought some anyway. I just couldn't pass because of the potential and proximity to one of the worlds biggest natural gas markets and a pipeline already in place carrying Sable Gas to New England..

That's 475,000 acres (huge area) with a 10 year production lease already secured in a Country favorable to drilling with a good tax regime and in close proximity to a major gas pipeline into the the huge U.S. North East Market. I just can't stay away.

If you don't like speculation, stay away. If you don't like making a "bet", stay away. But if your the betting type.....well.....

Just thought I'd mention it while Triangle Petroleum is still trading at only .15 per share.

update: Oct 21st, price at .13 - bought some more.
update Nov 2nd, price at .10 - bought more.

Update from the company: Dec 1-09 Triangle hires new CEO Dr. Peter HILL

Dr. Peter Hill - Dr. Hill has over 37 years experience in the international oil and gas industry. He commenced his career in 1972 and spent 22 years in senior positions at British Petroleum including Chief Geologist, Chief of Staff for BP Exploration, President of BP Venezuela and Regional Director for Central and South America. Dr. Hill then worked as Vice President Exploration at Ranger Oil in England (1994-95), Managing Director Exploration and Production at Deminex in Germany (1995-97), Technical Director/Chief Operating Officer at Hardy Oil & Gas (1998-2000), President & CEO at Harvest Natural Resources (2000-2005), Director/Chairman at Austral Pacific Energy (2006-2008), independent advisor to Palo Alto (2008 to present) and Non Executive Chairman at Toreador Resources Corporation (2009 to present). Dr. Hill has a BSc Honors Geology and a PhD.

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