TEZ Triton Energy Corp.

Triton Energy Corp. ("Triton" or the "Corporation") (TSX VENTURE:TEZ) is pleased
to announce that it has received the written consent of a majority of its
shareholders to its $10.0 million non-brokered unit and share private placement
(the "Private Placement"), which was announced on December 15, 2009.  Such
shareholders' consent also approved the acquisition of assets from Waldron
Energy Corporation ("Waldron"), the appointment of a new management team and
board of directors and a Rights Offering, all as announced on December 15, 2009
and as described below.


Triton is also pleased to announce that it has completed the Private Placement
and issued an additional $250,000 in units ("Units") due to an over-allotment of
Units to certain employees of Triton, pursuant to which Triton has issued an
aggregate of 22,225,053 common shares ("Common Shares") at a price of $0.13 per
Common Share and 28,312,800 Units at a price of $0.26 per Unit.  Each Unit
consists of one Common Share, one Common Share issued on a flow-through basis
and two Common Share purchase warrants ("Performance Warrants").  Each
Performance Warrant will entitle the holder to purchase one Common Share at a
price of $0.17 for a period of 5 years.  The Performance Warrants will vest and
become exercisable as to one-third upon the 20-day weighted average trading
price of the Common Shares ("Trading Price") equaling or exceeding $0.24, an
additional one-third upon the Trading Price equaling or exceeding $0.36 and a
final one-third upon the Trading Price equaling or exceeding $0.42. 
Seventy-five percent (75%) of the Units issued to new officers, directors and
employees of Triton and their associates and affiliates under the Private
Placement and 75% of the Waldron Units (as defined below) are subject to
contractual escrow.  The escrowed securities will be released in successive
six-month intervals such that one-third of the escrowed securities will be
released six months after the closing date of the Private Placement, one-third
will be released 12 months after the closing date of the Private Placement and
the remaining one-third will be released 18 months after the closing date of the
Private Placement.


Triton is also pleased to announce that a new management team and board of
directors have been appointed.  As previously announced, the new board of
directors will consist of Donald Archibald, John E. Zahary, Thomas A. Budd,
David R.J. Lefebvre and Ernest G. Sapieha and the new management team will
consist of Ernest G. Sapieha as President & Chief Executive Officer, Murray J.
Stodalka as Executive VP Engineering & Operations, Byron Lissel as VP
Exploration and Nanna Eliuk as VP Geophysics & Land.  Triton has also retained
Dean J. Schultz to continue as VP Finance & Chief Financial Officer.  


Triton has also acquired the undeveloped land and drill ready and re-completion
prospects of Waldron for aggregate proceeds of $1.98 million.  In consideration
thereof, Triton issued 15,200,000 units ("Waldron Units") at a price of $0.13
per Waldron Unit.  Each Waldron Unit consists of one Common Share and one Common
Share purchase warrant, which has the same terms as the Performance Warrants.


Following the completion of the Private Placement, the Waldron Acquisition and
the appointment of the new management group, Triton will initiate a rights
offering (the "Rights Offering") by way of a rights offering circular.  The
Rights Offering will allow holders of Common Shares of Triton, as at the record
date set by the board of directors in respect of the Rights Offering (the
"Record Date"), to be issued one right (a "Right") for each Common Share held.
Each four full rights will entitle the holder to purchase one Common Share.  The
exercise price under the Rights Offering shall, subject to regulatory approval,
be $0.13 per share, being equal to the price of the Common Shares issued under
the Private Placement.  Subscribers for Common Shares or Units pursuant to the
Private Placement and recipients of the Waldron Units will not be entitled to
participate in the Rights Offering with respect to any such securities.  The
Rights Offering is subject to the approval of the TSX Venture Exchange ("TSXV")
and other applicable regulatory authorities.  The Record Date for the Rights
Offering will be established once all regulatory approvals are obtained.


The Common Shares are expected to commence trading on the TSXV on an ex-rights
basis following the Record Date.  This means that Common Shares purchased on or
following the day that is two trading days prior to the Record Date will not be
entitled to receive Rights under the Rights Offering.  The holders of Common
Shares issued pursuant to the Private Placement have agreed not to participate
in the Rights Offering and will not be entitled to exercise, sell or convey any
Rights.


About Triton

Triton Energy Corp. is a Calgary, Alberta based company 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, management's assessment of future plans and operations.


When used in this document, the words "will," "anticipate," "believe,"
"estimate," "expect," "intent," "may," "project," "should," and similar
expressions are intended to be among the statements that identify
forward-looking statements. 


The forward-looking statements are founded on the basis of expectations and
assumptions made by Triton, which include, but are not limited to, the timing of
the receipt of the required shareholder, regulatory and third party approvals,
the future operations of, and transactions completed by, Triton as well as the
satisfaction of other conditions pertaining to the completion of the Rights
Offering. 


Forward-looking statements are subject to a wide range of risks and
uncertainties, and 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.  


Any number of important factors could cause actual results to differ materially
from those in the forward-looking statements including, but not limited to,
shareholder, regulatory and third party approvals not being obtained, the
ability to implement corporate strategies, the state of domestic capital
markets, the ability to obtain financing, changes in general market conditions
and other factors more fully described from time to time in the reports and
filings made by Triton with securities regulatory authorities.  


Except as required by applicable laws, Triton does not undertake any obligation
to publicly update or revise any forward-looking statements.

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