Triton Provides Operations Update and Year-End Production Guidance

CALGARY, ALBERTA--(Marketwire - Oct. 6, 2008) - Triton Energy Corp. ("Triton" or the "Corporation") (TSX VENTURE:TEZ) drilled three (3.0 net) wells and participated in the completion of one (0.5 net) well during the third quarter of 2008 resulting in one (1.0 net) operated dual zone natural gas well, one (1.0 net) operated oil well, one (0.5 net) non-operated dual zone oil and natural gas well and one (1.0 net) dry hole.

At Newton, Triton drilled and completed a 100% working interest dual zone natural gas well. This is the fifth successful well drilled by the Corporation in the Newton area and it is currently being tied-in with production expected to commence in November. The Corporation has 14 (13.75 net) sections (8,800 net acres) of land at Newton and has identified two additional drilling locations on this prospect. Current plans are to drill one additional 100% working interest well on this prospect before year-end at a seismically and geologically identified location immediately adjacent to a Triton owned pipeline currently under construction.

At Sullivan Lake, Triton drilled and completed a 100% working interest light oil well as part of a 14-section farmin and option agreement with a senior producer. This is the first oil well the Corporation has drilled on this prospect and it is expected to be on production in November. A second 100% working interest well also targeting light oil is scheduled to be drilled on this prospect before year-end at a location that has been selected based on proprietary 3-D seismic data and geological interpretation. In addition to the 14-section (8,960 acre) farmin and option lands, Triton has acquired an additional six sections (3,840 acres) of land in the prospect area through Crown land sales and a private land purchase.

At Lanaway, Triton participated in the completion of one (0.5 net) non-operated dual zone oil and natural gas well, which is expected to be placed on production in the fourth quarter. Based on this successful well and 3-D seismic interpretation, Triton has identified up to three additional drilling locations on this prospect.

Based on the successful third quarter results Triton forecasts a 2008 year-end exit production rate of approximately 1,200 barrels of oil equivalent per day.

The Corporation currently plans to finance the balance of its 2008 capital expenditures program utilizing funds from operations and funds available from its credit facility, which was recently increased to $10.0 million and can be further increased to $11.5 million on certain conditions being met.

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 Statements

This news release may include forward-looking statements including opinions, assumptions, estimates and management's assessment of future plans and operations, budgeted capital expenditures and funding thereof, wells to be drilled, timing of drilling of wells, commencement of production from wells and year-end production rate. 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, results from testing, 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.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this news release.

FOR FURTHER INFORMATION PLEASE CONTACT:
        Triton Energy Corp.
        Michael S. Zuber
        President & CEO
        (403) 266-5541 ext. 222
        Fax: (403) 266-5579 (FAX)
        Email: mzuber@tritonenergy.ca

        Triton Energy Corp.
        Dean J. Schultz
        Vice President, Finance & CFO
        (403) 266-5541 ext. 229
        Fax: (403) 266-5579 (FAX)
        Email: dschultz@tritonenergy.ca
        Website: www.tritonenergy.ca

Source: Triton Energy Corp.