Triton Energy Corp. Announces Closing of the West Central Alberta Property Acquisition and $25 Million Bought Deal Financing

Triton Energy Corp. ("Triton" or the "Corporation") (TSX VENTURE:TEZ) is pleased
to announce that it has closed the acquisition of approximately 1,100 boepd in
west central Alberta for consideration of approximately $45 million (the
"Acquisition") prior to normal adjustments, closed the previously announced $25
million bought deal financing (the "Offering") of common shares ("Common
Shares"), increased its credit facilities (the "Credit Facilities") to $25
million and closed the previously announced rights offering.


ACQUISITION

The acquired properties are currently producing approximately 1,100 boepd (65%
liquids rich natural gas, 35% light oil), are located in the Ferrybank area of
West Central Alberta and increase Triton's inventory of high quality repeatable
drilling prospects. The Acquisition increases Triton's exposure to the liquids
rich natural gas Glauconite Formation on the Hoadley trend, an area where
industry players have experienced considerable success with horizontal drilling,
and it also provides Triton with multiple Ellerslie and Belly River light oil
drilling locations. The Acquisition is also generally characterized by high
working interests (approximately 70%), operatorship, 2D & 3D seismic coverage
and control of infrastructure, all attributes that provide Triton with
significant exposure to the potential benefits and upside of these plays. These
properties also contain gathering and processing infrastructure capable of
accommodating future production additions. The Corporation has funded the
Acquisition through the previously announced Offering and Credit Facilities.


FINANCING

Pursuant to the Offering, Triton issued 104,170,000 Common Shares at a price of
$0.24 per Common Share for gross proceeds of $25 million through a syndicate of
underwriters led by National Bank Financial Inc. and including FirstEnergy
Capital Corp., Macquarie Capital Markets Canada Ltd., Desjardins Securities Inc.
and Raymond James Ltd. The proceeds of the Offering were used to fund the
purchase price of the Acquisition.


CREDIT FACILITIES

In connection with the Acquisition, Triton is pleased to announce that it has
arranged new $25 million Credit Facilities. Triton has approximately $18.5
million drawn on the Credit Facilities after completing the Acquisition.


RIGHTS OFFERING

Triton is pleased to announce the completion of its previously announced rights
offering. Under the rights offering, shareholders subscribed for and purchased
an aggregate of 10,430,487 Common Shares at a price of $0.13 per Common Share
resulting in gross proceeds to the Corporation of approximately $1.36 million.


STRATEGIC RATIONALE

Triton's management team is focused on creating shareholder value through both
internal generation of prospects and strategic acquisitions. The Acquisition is
consistent with Triton's strategy of acquiring high quality liquids rich natural
gas, complemented by light oil, with repeatable drilling opportunities. The
Acquisition will also provide Triton with a solid foundation for growth by
enhancing its current operations with a multi-year drilling inventory in an area
where the management team has extensive experience and success. With the
addition of these properties, the management team will be able to exploit its
technical expertise, capitalize on its experience and provide value for its
shareholders by implementing an aggressive exploration and development program.


Upon completion of the Acquisition, the Corporation expects to have pro forma
production of approximately 1,950 boepd of natural gas and light oil, more than
62,300 net acres of undeveloped land and a concentrated asset base in West
Central Alberta with a large inventory of development and exploratory drilling
locations. The Corporation expects to announce its 2010 capital program within
the next few weeks.


INVESTOR INFORMATION

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".


Additional information regarding Triton is available under the Corporation's
profile at www.sedar.com.


This press release shall not constitute an offer to sell, nor the solicitation
of an offer to buy, any securities in the United States, nor shall there be any
sale of securities mentioned in this press release in any state in the United
States in which such offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of any such state.


Forward Looking and Cautionary Statements

This news release contains forward-looking statements relating to the
Corporation's plans and other aspects of the Corporation's anticipated future
operations, strategies, financial and operating results and business
opportunities. These forward-looking statements may include opinions,
assumptions, estimates, management's assessment of future plans and operations,
and, more particularly, statements concerning Acquisition and the Credit
Facilities.


Forward-looking statements typically use words such as "will," "anticipate,"
"believe," "estimate," "expect," "intent," "may," "project," "should," "plan,,"
"intend," and similar expressions suggesting future outcomes, and statements
that actions, events or conditions "may," "would," "could," or "will" be taken
or occur in the future. Specifically, this press release contains
forward-looking statements relating to Acquisition and the Credit Facilities;
the expected transaction metrics of the Acquisition; the Corporation's
anticipated debt following completing of the Acquisition and the Credit
Facilities; and anticipated growth and advantages to be gained as a result of
the Acquisition. In addition, statements regarding reserves are deemed to be
forward-looking statements, as they involve estimates and assumptions as to the
expectation that the reserves can be economically exploited in the future. The
forward-looking statements are based on various assumptions including
expectations regarding the properties acquired further to the Acquisition; the
outlook for petroleum and natural gas prices; estimated amounts and timing of
capital expenditures; estimates of future production; assumptions concerning the
timing of regulatory approvals; the state of the economy and the exploration and
production business; results of operations; performance; business prospects and
opportunities; future exchange and interest rates; the Corporation's ability to
obtain equipment in a timely manner to carry out development activities; and the
ability of the Corporation to access capital. While the Corporation considers
these assumptions to be reasonable based on information currently available to
it, they may prove to be incorrect.


Forward-looking statements are subject to a wide range of assumptions, known and
unknown risks and uncertainties and other factors that contribute to the
possibility that the predicted outcome will not occur, including, without
limitation: risks associated with oil and gas exploration, development,
exploitation, production, marketing and transportation; loss of markets;
volatility of commodities prices; currency fluctuations; imprecision of reserves
estimates; environmental risks; competition from other producers; inability to
retain drilling rigs and other services; incorrect assessment of the value of
acquisitions; failure to realize the anticipated benefits of acquisitions;
general economic conditions; delays resulting from or inability to obtain
required regulatory approvals and to satisfy various closing conditions; and
ability to access sufficient capital from internal and external sources. Readers
are cautioned that the foregoing list of factors is not exhaustive.


Although Triton believes that the expectations represented by such
forward-looking statements are reasonable, there can be no assurance that such
expectations will be realized. As a consequence, actual results may differ
materially from those anticipated in the forward-looking statements and you
should not rely unduly on forward-looking statements. The forward-looking
statements contained in this news release are made as of the date of this news
release. Except as required by applicable law, Triton does not undertake any
obligation to publicly update or revise any forward-looking statements.


Note Regarding BOEs

The term barrel of oil equivalent ("boe") may be misleading, particularly if
used in isolation. A conversion ratio for gas of 6 mcf:1 boe is based on an
energy equivalency conversion method primarily applicable at the burner tip and
does not represent a value equivalency at the wellhead.