Triton Austin Chalk , Inc. Completes Acquisition of 4,995 Acres Comprising 434 Wells with TRAE Receiving 45 Percent of All Revenues; Triton American Well Services, LLC Moving On-Site on Today for Immediate Well Preparations

Business Wire, Jan 23, 2006

HOUSTON -- Triton American Energy Corp. (OTC PK: TRAE), provider of natural gas and crude oil, is pleased to announce Triton Austin Chalk (EOR), Inc. (TAC) has completed their acquisition of 4,995 acres comprising 434 oil and gas wells. Triton American Well Services will be moving on-site on today to begin immediate well preparations.

Triton American Energy will oversee Triton Austin Chalks projects and will receive 45 percent of all revenues generated. Triton American Energy will also receive 45 percent of all revenues generated from Triton American Well Services, LLC. Triton American Energy seeks to benefit from this business model by utilizing Triton Austin Chalks strong management team to locate and acquire wells and then using Triton American Well Services technology and operations crew to bring existing wells on line quickly. Triton American Energy will also rent Triton American Well Services technology for additional income.

Triton Austin Chalk will utilize Triton American Well Services, LLC to re-enter all of the 434 well bores. Well bores will be entered with new shallow depth lateral drilling technology. In addition TAC will install thermal pulse units (TPU's) on the wells rather than conventional pump jacks. TPU's provide a clean, efficient, inexpensive method of Enhanced Oil Recovery. Benefits from the use TPU's include increasing production rates and recoverable reserves from marginal wells, lifting multiple wells with one TPU unit and alternating between wells with a "huff and puff" method. This technology will be installed and maintained by Weekley Energy Group 1, LP an Austin, Texas based Oil Service Company.

President and CEO, Louis Guidry states, "We are continuing our long-term strategy to acquire oil and gas wells. This is our largest acquisition and is anticipated to generate a major source of income for our company heading into the third quarter of 2006." Mr. Guidry continued to state, "As of Friday January 20th, crude oil was continuing its rise on route $70.00 per barrel. This is the first time since 'Katrina' that oil prices has reached these levels."

About Triton American Energy Corporation:

Triton American Energy is an independent crude oil and natural gas and oil exploration and production company based in Houston, Texas. The companies business plan is structured to take advantage of todays rising energy cost, while reducing as much financial risk as possible. Tritons niche or specialty are the small to moderate operations (usually 1-50 well projects). These wells can be worth hundreds of millions of dollars in revenue but require more hands-on attention then the major producers are willing to give.

For more information, please contact Investor Relations at (973) 351-3868 for Stephen Taylor or visit our website at: www.tritonamericanenergycorp.com

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: Except for historical information, the forward looking matters discussed in this news release are subject to certain risks and uncertainties which could cause the Company's actual results and financial condition to differ materially from those anticipated by the forward-looking statements including, but not limited to, the Company's liquidity and the ability to obtain financing, the timing of regulatory approvals, uncertainties related to corporate partners or third-parties, product liability, the dependence on third parties for manufacturing and marketing, patent risk, copyright risk, competition, and the early stage of products being marketed or under development, as well as other risks indicated from time to time in the Company's filings with the Securities and Exchange Commission. The Company assumes no obligation to update or supplement forward-looking statements that become untrue because of subsequent events.