TriOil provides Cardium activity update at Lochend and reports Executive Management Appointment

CALGARY, Sept. 19, 2011 /CNW/ - TriOil Resources Ltd. ("TriOil" or the "Company" - TSXV:TOL) is pleased to provide an operational update on the Company's light oil project in the Cardium at Lochend and announces Executive Management and Board of Directors changes.

Lochend Cardium Operational Update

  • The fourth horizontal well in our 2011 program (TOL 30%, TOL operated), previously announced with an IP30 of 323 boe/d, is still producing well above our type curve for the area.
  • The fifth Cardium horizontal well in our 2011 program (TOL 100%; TOL operated) was successfully completed with a 20 stage slick water completion and has been placed on production following its mandatory pressure assessment period. We are encouraged by its early performance and we look forward to providing an update when additional production history is obtained.
  • The sixth Cardium well in our 2011 program (TOL 50%; TOL operated) was successfully completed with a 13 stage slick water fracture stimulation in the second week of September, and is currently being equipped for production.
  • The seventh Cardium horizontal well in our 2011 program (TOL 50%; TOL operated) is currently drilling.
  • TOL successfully executed its first liquid propane gas ("LPG") fracture stimulation in one of our existing cased vertical wells at Lochend. The well has recently been equipped and placed on production. Early production rates are encouraging and we are in the planning stages for a second LPG fracture stimulation in another one of our 30 vertical wellbores.
  • TriOil currently has 4 (2.95 net) operated and 1 (0.2 net) non-operated wells licensed and ready to drill prior to year end.
  • Extension of the gas gathering system at Lochend has been completed and TriOil's wells, as well as third party wells, will be tied in to TOL's 99% owned and operated gas plant.
  • In addition to the gas gathering pipeline, construction of a joint industry central oil battery with initial throughput capacity of 2,500 barrels of oil per day will commence shortly, with plans for the battery to be completed prior to year end 2011.
  • An industry 3D seismic program, in which TriOil is participating, has finished field operations, and is currently being processed.

Executive Management Appointment

We are very pleased to announce that Ms. Cheryne Johnson, CA, MPAcc., a founding member of the TriOil management team, has been appointed Vice President Finance and Chief Financial Officer of the Company.

Ms. Johnson has 11 years of experience in oil and gas industry, capital markets and public accounting. Ms. Johnson has been VP Finance since the inception of TriOil and previously held senior financial positions at Highpine Oil and Gas, Anderson Energy, Tristone Capital, Ketch Resources Trust and KPMG LLP.

Board Resignation

TriOil also announces the resignation of Mr. Fred Woods from the Board of Directors in order to devote more time to his other business endeavours. We wish to thank Mr. Woods for his energy, advice and guidance since the Company's inception.

TriOil is a publicly traded junior oil resource player in Western Canada. Substantial land positions have been acquired on early stage light oil resource opportunities to capitalize on improvements in horizontal drilling and multi-stage fracture stimulation technologies, specifically targeting opportunities in the emerging Cardium oil trends in Alberta. TriOil has successfully executed its business plan and has positioned the Company for solid growth in production, reserves and shareholder value.

TriOil trades on the TSX Venture Exchange under the symbol "TOL". As of August 25, 2011, there were approximately 31.5 million shares issued and outstanding (35.5 million fully diluted).

Forward Looking Statements
This news release contains forward-looking information and forward-looking statements within the meaning of applicable securities laws. The use of any of the words "expect", "anticipate", "continue", "estimate", "believe", "plans", "intends", "confident", "may", "objective", "ongoing", "will", "should", "project", and similar expressions are intended to identify forward-looking information. More particularly, this document contains forward looking statements which include, but are not limited to, expected future drilling and completion plans, expected production and reserves growth and the future operations of TriOil.

The forward-looking statements contained in this document are based on certain key expectations and assumptions made by TriOil, including with respect to the anticipated exploration and development opportunities and the outlook for the fiscal year ending December 31, 2011, expectations and assumptions concerning the success of future exploration and development activities, production guidance, the performance of new wells, prevailing commodity prices and the availability of additional capital if and when required by the Corporation.

Any references in this news release to initial and/or final raw test or production rates and/or "flush" production rates or 30, 60 and 90 day production rates are useful in confirming the presence of hydrocarbons, however, such rates are not determinative of the rates at which such wells will continue production and decline thereafter. Additionally, such rates may also include recovered "load oil" fluids used in well completion stimulation. While encouraging, readers are cautioned not to place reliance on such rates in calculating the aggregate production for the Company.

Although TriOil believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because TriOil can give no assurance that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks. These include, but are not limited to, the failure to satisfy the conditions to closing the transaction, risks associated with the oil and gas industry in general (e.g., operational risks in development, exploration and production; delays or changes in plans with respect to exploration or development projects or capital expenditures; the uncertainty of reserve estimates; the uncertainty of estimates and projections relating to production, costs and expenses, and health, safety and environmental risks), commodity price and exchange rate fluctuations and uncertainties resulting from potential delays or changes in plans with respect to exploration or development projects or capital expenditures. Certain of these risks are set out in more detail in TriOil's Annual Information Form which has been filed on SEDAR and can be accessed at www.sedar.com and TriOil's other public disclosure documents which have been filed on SEDAR and can be accessed at www.sedar.com.

The forward-looking statements contained in this press release are made as of the date hereof and TriOil undertakes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.

Meaning of BOE
The term "boe" may be misleading, particularly if used in isolation. A boe conversion of 6 Mcf:1 bbl is based on an energy equivalency conversion method primarily applicable at the burner tip and does not represent a value equivalency at the wellhead.

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.


SOURCE TriOil Resources Ltd.

For further information:

Russell J. Tripp, President & CEO, TriOil Resources Ltd.; Cheryne Johnson, VP Finance & CFO, TriOil Resources Ltd.; Andrew Wiacek, VP Exploration, TriOil Resources Ltd.; Corporate Phone: (403) 265-4115

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TriOil Resources Ltd.

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