Triton Announces Second Quarter 2009 Results

Triton Energy Corp. ("Triton" or the "Corporation") (TSX VENTURE:TEZ) announces
financial and operating results for the three and six months ended June 30,
2009. Triton has filed its interim financial statements for the three and six
months ended June 30, 2009 and the accompanying Management's Discussion and
Analysis with Canadian securities regulatory authorities. These filings are
available for review at www.sedar.com and on the Corporation's website,
www.tritonenergy.ca.


Highlights of the Second Quarter of 2009

- Production increased by approximately 36% year-over-year to average 939 boe
per day compared to 689 boe per day during the second quarter of 2008.


- Operating costs were reduced by approximately 13% year-over-year to $8.15 per
boe compared to $9.35 per boe during the second quarter of 2008.


- The Corporation's realized sales price for petroleum and natural gas was 58%
lower compared to the second quarter of 2008, the results of which are reflected
in the Corporation's petroleum and natural gas sales, funds from operations and
net income (loss).


- Petroleum and natural gas sales were $2.04 million compared to $3.54 million
in the second quarter of 2008.


- Funds from operations were $0.42 million ($0.01 per share basic and diluted)
compared to $1.77 million ($0.05 per share basic and diluted) in the second
quarter of 2008.


- The Corporation had a net loss of $1.17 million ($0.03 per share basic and
diluted) compared to net income of $0.29 million ($0.01 per share basic and
diluted) in the second quarter of 2008.


- Capital expenditures totaled $1.78 million (2008 - $3.72 million), of which
$1.51 million was spent on drilling and completions, $0.25 million on land and
seismic and $0.02 million on facilities.


- Triton participated in the drilling of one (0.125 net) unsuccessful deep
exploratory well.




Financial Summary

----------------------------------------------------------------------------
                                 Three months ended        Six months ended
                                            June 30,                June 30,
                                   2009        2008        2009        2008
----------------------------------------------------------------------------
Financial ($000's except for (unaudited) (unaudited) (unaudited) (unaudited)
 per share amounts)
 Petroleum and natural gas
  sales                           2,040       3,538       4,597       7,561
 Funds from operations (1)          420       1,765       1,133       3,525
  Per share basic &
   diluted(1)(2)                   0.01        0.05        0.03        0.10
 Net earnings (loss)             (1,170)        295      (1,872)        304
  Per share basic &
   diluted(2)                     (0.03)       0.01       (0.05)       0.01
 Working capital surplus
  (deficiency)                   (7,322)     (4,111)     (7,322)     (4,111)
 Capital expenditures (3)         1,780       3,716       6,006       7,372
 Total assets                    37,417      34,573      37,417      34,573
 Shareholders' equity            23,947      23,943      23,947      23,943
----------------------------------------------------------------------------

Notes:
(1) Funds from operations is a non-GAAP term and the Corporation calculates
    this measure as cash provided from operations before changes in non-cash
    operating working capital.
(2) At June 30, 2009 there were 3,675,000 options to purchase common shares
    and 900,000 non-transferable common share purchase warrants outstanding
    that have not been included in the calculation of the weighted average
    shares outstanding as the effect would be anti-dilutive.
(3) Excludes asset retirement obligations.


Operating Summary

----------------------------------------------------------------------------
                                 Three months ended        Six months ended
                                            June 30,                June 30,
                                   2009        2008        2009        2008
----------------------------------------------------------------------------
Average production volumes
 Petroleum & NGL (bbls/day)          51          24          57          32
 Natural gas (mcf/day)            5,327       3,994       5,202       4,542
 BOE/day                            939         689         924         789

Operating netback (per boe)
 Sales price                      23.89       56.39       27.48       52.68
 Royalties                        (3.86)      (9.66)      (5.24)     (10.77)
 Operating expenses               (8.15)      (9.35)      (8.95)      (9.63)
 Transportation expenses          (1.80)      (1.85)      (1.79)      (1.80)
----------------------------------------------------------------------------
 Operating netback                10.08       35.53       11.50       30.48
----------------------------------------------------------------------------



Outlook

Triton's third quarter capital program includes the construction of an emulsion
pipeline at Lanaway and drilling one (1.0 net) exploration well in the
Corporation's Sullivan Lake core area.


At Lanaway, construction of the emulsion pipeline has recently been completed
which should optimize production and reduce operating costs in this 50%
non-operated working interest well. Production from the well was recently
switched from the Rock Creek zone to the Lower Mannville zone and Triton expects
the operator to submit an application to commingle both zones prior to year-end.


At Sullivan Lake, Triton recently drilled and cased a 100% working interest
exploration well for potential Ellerslie oil. The well is expected to be
perforated within the next week and shut-in to obtain an initial pressure.
Testing operations are expected to be completed in September. Several offsetting
drilling locations for Ellerslie oil have been identified utilizing proprietary
3-D seismic on Triton owned/controlled lands in the area.


In addition to the Sullivan Lake drilling locations, two new oil prospects have
been developed internally. Both prospects are located in central Alberta and are
targeting light to medium gravity oil at depths of less than 1,500 meters on
Triton owned/controlled lands. Triton intends to continue to focus on developing
and drilling oil prospects until natural gas prices recover to a level that
makes drilling for natural gas more economic.


Low natural gas prices continue to reduce cash flows while corporate debt levels
continue to rise. As a result, further consolidation among junior petroleum and
natural gas producers is anticipated. The Corporation has been and will continue
to review potential merger and acquisition opportunities with the objective of
significantly growing production, reserves and shareholder value in a low
commodity price environment.


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".


Forward-Looking and Cautionary Statements

This news release may include forward-looking statements including opinions,
assumptions, estimates and management's assessment of future plans and
operations, drilling plans, timing of completion and testing operations, the
effects of completion of facilities, expected submission of commingling
application and potential merger and acquisition opportunities. When used in
this document, the words "anticipate," "believe," "estimate," "expect,"
"intent," "may," "project," "plan", "should" and similar expressions are
intended to be among the statements that identify forward-looking statements.
Forward-looking statements are subject to a wide range of risks and
uncertainties, and although the Corporation believes that the expectations
represented by such forward-looking statements are reasonable, there can be no
assurance that such expectations will be realized. Any number of important
factors could cause actual results to differ materially from those in the
forward-looking statements including, but not limited to, risks associated with
oil and gas exploration, development, exploitation, production, marketing and
transportation, the volatility of oil and gas prices, currency fluctuations, the
ability to implement corporate strategies, the state of domestic capital
markets, the ability to obtain financing, incorrect assessment of the value of
acquisitions, failure to realize the anticipated benefits of acquisitions,
changes in oil and gas acquisition and drilling programs, delays resulting from
inability to obtain required regulatory approvals, delays resulting from
inability to obtain drilling rigs and other services, delays in tie-in
operations, results from testing, environmental risks, competition from other
producers, imprecision of reserve estimates, changes in general economic
conditions and other factors more fully described from time to time in the
reports and filings made by Triton with securities regulatory authorities.
Readers are cautioned not to place undue reliance on forward-looking statements,
as no assurances can be given as to future results, levels of activity or
achievements. Except as required by applicable securities laws, the Corporation
does not undertake any obligation to publicly update or revise any
forward-looking statements.


Disclosure provided herein in respect of barrels of oil equivalent ("boe") may
be misleading, particularly if used in isolation. A boe conversion ratio of
6,000 cubic feet of natural gas to 1 barrel of oil is based on an energy
equivalency conversion method primarily applicable at the burner tip and does
not represent a value equivalency at the wellhead.
Triton Energy Corp. (TSXV:TEZ)
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