| Nevada                                                        |   | 98-0430762                          |
|---------------------------------------------------------------|--------|-------------------------------------|
| (State or Other Jurisdiction ofIncorporation or Organization) |   | (I.R.S. EmployerIdentification No.) |

|  Large accelerated filer  ̈          | Accelerated filer  ̈    |
|-----------------------------------------------|-----------------------------|
|  Non-accelerated filer  ̈            | Smaller reporting company x |
| (Do not check if a smaller reporting company) |                        |

----

| PART I.  | FINANCIAL INFORMATION |                                                                                              |   |
|----------|-----------------------|---------------------------------------------------------------------------------------------------|--------|
|     |                  |                                                                                              |   |   |
|     | ITEM 1.               | Financial Statements                                                                              |   |   |
|     |                  |                                                                                              |   |   |
|     |                  | Consolidated balance sheets - April 30, 2011 and January 31, 2011                                 |   | 3 |
|     |                  |                                                                                              |   |   |
|     |                  | Consolidated statements of operations - three months ended April 30, 2011 and 2010                |   | 4 |
|     |                  |                                                                                              |   |   |
|     |                  | Consolidated statement of stockholders’ equity - three months ended April 30, 2011 and 2010 |   | 5 |
|     |                  |                                                                                              |   |   |
|     |                  | Consolidated statements of cash flows - three months ended Apirl 30, 2011 and 2010                |   | 6 |
|     |                  |                                                                                              |   |   |
|     |                  | Notes to consolidated financial statements                                                        |   | 7 – 12 |
|     |                  |                                                                                              |   |   |
|     | ITEM 2.               | Management’s Discussion and Analysis of Financial Condition and Results of Operations       |   | 13 |
|     |                  |                                                                                              |   |   |
|     | ITEM 3.               | Quantitative and Qualitative Disclosures About Market Risk                                        |   | 17 |
|     |                  |                                                                                              |   |   |
|     | ITEM 4.               | Controls and Procedures                                                                           |   | 18 |
|     |                  |                                                                                              |   |   |
| PART II. | OTHER INFORMATION     |                                                                                              |   |
|     |                  |                                                                                              |   |   |
|     | ITEM 1                | Legal proceedings                                                                                 |   | 18 |
|     | ITEM 1A.              | Risk factors                                                                                      |   | 18 |
|     | ITEM 2.               | Unregistered sales of equity securities and use of proceeds                                       |   | 18 |
|     | ITEM 3.               | Defaults upon senior securities                                                                   |   | 18 |
|     | ITEM 4.               | Removed and reserved                                                                              |   | 18 |
|     | ITEM 5.               | Other information                                                                                 |   | 18 |
|     | ITEM 6.               | Exhibits                                                                                          |   | 19 |
|     |                  |                                                                                              |   |   |
|     | SIGNATURES            |                                                                                              | 20     |

----

|                                                                                                                                                                         |   | April 30, |        |   | January 31, |   |
|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|-----------|-------------|--------|-------------|--------|
|                                                                                                                                                                         |   | 2011      |        |   | 2011        |   |
| ASSETS                                                                                                                                                                       |   |      |        |   |        |   |
| CURRENT ASSETS                                                                                                                                                               |   |      |        |   |        |   |
| Cash                                                                                                                                                                         |   | $         | 122,462,028 |   |        | $      | 57,773,269 |   |
| Restricted cash                                                                                                                                                              |   |      | 105,264     |   |        |   | 105,264 |   |
| Prepaid expenses and deposits                                                                                                                                                |   |      | 475,200     |   |        |   | 316,069 |   |
| Other receivables                                                                                                                                                            |   |      | 1,505,334   |   |        |   | 232,828 |   |
| Total current assets                                                                                                                                                         |   |      | 124,547,826 |   |        |   | 58,427,430 |   |
|                                                                                                                                                                         |   |      |        |   |        |   |   |   |
| PROPERTY AND EQUIPMENT (Note 3)                                                                                                                                              |   |      |        |   |        |   |   |   |
| Oil and gas properties                                                                                                                                                       |   |      | 96,969,757  |   |        |   | 22,133,885 |   |
| Furniture, fixtures and equipment                                                                                                                                            |   |      | 59,593      |   |        |   | - |   |
| Prepaid drilling costs                                                                                                                                                       |   |      | 3,800,694   |   |        |   | 1,469,453 |   |
| Total assets                                                                                                                                                                 |   | $         | 225,377,870 |   |        | $      | 82,030,768 |   |
|                                                                                                                                                                         |   |      |        |   |        |   |   |   |
| LIABILITIES AND STOCKHOLDERS’ EQUITY                                                                                                                                   |   |      |        |   |        |   |   |   |
|                                                                                                                                                                         |   |      |        |   |        |   |   |   |
| CURRENT LIABILITIES                                                                                                                                                          |   |      |        |   |        |   |   |   |
| Accounts payable                                                                                                                                                             |   | $         | 384,376     |   |        | $      | 1,939,754 |   |
| Accrued liabilities                                                                                                                                                          |   |      | 1,702,101   |   |        |   | 2,880,611 |   |
| Total current liabilities                                                                                                                                                    |   |      | 2,086,477   |   |        |   | 4,820,365 |   |
| Asset retirement obligations (Note 2)                                                                                                                                        |   |      | 1,430,705   |   |        |   | 1,403,697 |   |
| Total liabilities                                                                                                                                                            |   |      | 3,517,182   |   |        |   | 6,224,062 |   |
|                                                                                                                                                                         |   |      |        |   |        |   |   |   |
| STOCKHOLDERS' EQUITY (Note 5)                                                                                                                                                |   |      |        |   |        |   |   |   |
| Common stock, $0.00001 par value, 70,000,000 shares authorized; 42,942,538 and 22,525,672 shares issued and outstanding at April 30, 2011 and January 31, 2011, respectively |   |      | 429         |   |        |   | 225 |   |
| Additional paid-in capital                                                                                                                                                   |   |      | 306,713,874 |   |        |   | 159,788,323 |   |
| Accumulated deficit                                                                                                                                                          |   |      | (84,853,615 | )      |        |   | (83,981,842 | ) |
| Total stockholders’ equity                                                                                                                                             |   |      | 221,860,688 |   |        |   | 75,806,706 |   |
| Total liabilities and stockholders’ equity                                                                                                                             |   | $         | 225,377,870 |   |        | $      | 82,030,768 |   |

----

|                                                                 |   | April 30, |       |   | April 30, |   |
|----------------------------------------------------------------------|--------|-----------|------------|--------|-----------|--------|
|                                                                 |   | 2011      |       |   | 2010      |   |
| REVENUES                                                             |   |      |       |   |      |   |
| Oil and natural gas sales, net of royalties                          |   | $         | 513,282    |   |      | $      | 32,919 |   |
|                                                                 |   |      |       |   |      |   |   |   |
| EXPENSES                                                             |   |      |       |   |      |   |   |   |
| Lease operating                                                      |   |      | 68,835     |   |      |   | 7,208 |   |
| General and administrative                                           |   |      | 1,186,133  |   |      |   | 672,682 |   |
| Accretion of asset retirement obligations (Note 2)                   |   |      | 70,061     |   |      |   | 64,479 |   |
| Depletion, depreciation and amortization (Note 3)                    |   |      | 163,761    |   |      |   | 7,073 |   |
| Foreign exchange gain                                                |   |      | (8,262     | )      |      |   | (49,802 | ) |
| Total operating expense                                              |   |      | 1,480,528  |   |      |   | 701,640 |   |
|                                                                 |   |      |       |   |      |   |   |   |
| LOSS FROM OPERATIONS                                                 |   |      | (967,246   | )      |      |   | (668,721 | ) |
|                                                                 |   |      |       |   |      |   |   |   |
| OTHER INCOME                                                         |   |      |       |   |      |   |   |   |
| Interest and royalty income                                          |   |      | 95,473     |   |      |   | 341 |   |
|                                                                 |   |      |       |   |      |   |   |   |
| NET LOSS                                                             |   | $         | (871,773   | )      |      | $      | (668,380 | ) |
|                                                                 |   |      |       |   |      |   |   |   |
| NET LOSS PER COMMON SHARE - BASIC AND DILUTED                        |   | $         | (0.03      | )      |      | $      | (0.08 | ) |
|                                                                 |   |      |       |   |      |   |   |   |
| Weighted average common shares outstanding – basic and diluted |   |      | 32,484,857 |   |      |   | 8,411,586 |   |

----

|                                                                 |   | Shares ofCommon Stock |       |   | Stock Amount |   |   | Additional Paid-inCapital |   |   | Warrants    |   |   | AccumulatedDeficit |   |   | Total Equity |   |
|----------------------------------------------------------------------|--------|---------------------------------|------------|--------|-------------------|--------|--------|--------------------------------|--------|--------|-------------|--------|--------|--------------------|--------|--------|-------------------|--------|
| Balance - January 31, 2011                                           |   |                            | 22,525,672 |   |              | $      | 225    |                           |   | $      | 159,788,323 |   |   | $                  | -      |   |              | $      | (83,981,842 | ) |   | $ | 75,806,706 |   |
|                                                                 |   |                            |       |   |              |   |   |                           |   |   |        |   |   |               |   |   |              |   |   |   |   |   |   |   |
| Common stock issued for the purchase of oil and natural gas property |   |                            | 433,500    |   |              |   | 4      |                           |   |   | 3,134,201   |   |   |               | -      |   |              |   | - |   |   |   | 3,134,205 |   |
| Common stock issued for the purchase of oil and natural gas property |   |                            | 1,004,199  |   |              |   | 10     |                           |   |   | 8,646,143   |   |   |               | -      |   |              |   | - |   |   |   | 8,646,153 |   |
| Sale of common stock at $7.50/share                                  |   |                            | 18,975,000 |   |              |   | 190    |                           |   |   | 142,312,310 |   |   |               | -      |   |              |   | - |   |   |   | 142,312,500 |   |
| Common stock offering costs                                          |   |                            | -          |   |              |   | -      |                           |   |   | (7,245,980  | )      |   |               | -      |   |              |   | - |   |   |   | (7,245,980 | ) |
| Exercise of stock options                                            |   |                            | 4,167      |   |              |   | -      |                           |   |   | 12,779      |   |   |               | -      |   |              |   | - |   |   |   | 12,779 |   |
| Stock-based compensation                                             |   |                            | -          |   |              |   | -      |                           |   |   | 66,098      |   |   |               | -      |   |              |   | - |   |   |   | 66,098 |   |
| Net loss for the period                                              |   |                            | -          |   |              |   | -      |                           |   |   | -           |   |   |               | -      |   |              |   | (871,773 | ) |   |   | (871,773 | ) |
|                                                                 |   |                            |       |   |              |   |   |                           |   |   |        |   |   |               |   |   |              |   |   |   |   |   |   |   |
| Balance, April 30, 2011                                              |   |                            | 42,942,538 |   |              | $      | 429    |                           |   | $      | 306,713,874 |   |   | $                  | -      |   |              | $      | (84,853,615 | ) |   | $ | 221,860,688 |   |

|                                |   | Shares ofCommon Stock |      |   | Stock Amount |   |   | Additional Paid-in Capital |   |   | Warrants   |   |   | AccumulatedDeficit |      |   | Total Equity |   |
|-------------------------------------|--------|---------------------------------|-----------|--------|-------------------|--------|--------|---------------------------------|--------|--------|------------|--------|--------|--------------------|-----------|--------|-------------------|--------|
| Balance - January 31, 2010          |   |                            | 6,992,604 |   |              | $      | 70     |                            |   | $      | 81,950,705 |   |   | $                  | 4,237,100 |   |              | $      | (63,704,645 | ) |   | $ | 22,483,230 |   |
|                                |   |                            |      |   |              |   |   |                            |   |   |       |   |   |               |      |   |              |   |   |   |   |   |   |   |
| Exercise of stock options           |   |                            | 79,167    |   |              |   | 1      |                            |   |   | 234,956    |   |   |               | -         |   |              |   | - |   |   |   | 234,957 |   |
| Sale of common stock at $3.30/share |   |                            | 2,799,394 |   |              |   | 28     |                            |   |   | 9,237,972  |   |   |               | -         |   |              |   | - |   |   |   | 9,238,000 |   |
| Common stock offering costs         |   |                            | -         |   |              |   | -      |                            |   |   | (773,531   | )      |   |               | -         |   |              |   | - |   |   |   | (773,531 | ) |
| Stock-based compensation            |   |                            | -         |   |              |   | -      |                            |   |   | 121,541    |   |   |               | -         |   |              |   | - |   |   |   | 121,541 |   |
| Net loss for the period             |   |                            | -         |   |              |   | -      |                            |   |   | -          |   |   |               | -         |   |              |   | (668,380 | ) |   |   | (668,380 | ) |
|                                |   |                            |      |   |              |   |   |                            |   |   |       |   |   |               |      |   |              |   |   |   |   |   |   |   |
| Balance, April 30, 2010             |   |                            | 9,871,165 |   |              | $      | 99     |                            |   | $      | 90,771,643 |   |   | $                  | 4,237,100 |   |              | $      | (64,373,025 | ) |   | $ | 30,635,817 |   |

----

|                                                                              |   | Three Months         |        |   | Three Months         |   |
|-----------------------------------------------------------------------------------|--------|---------------------------|-------------|--------|---------------------------|--------|
|                                                                         |   | Ended April 30, |        |   | Ended April 30, |   |
|                                                                              |   | 2011                      |        |   | 2010                      |   |
| CASH FLOWS FROM OPERATING ACTIVITIES                                              |   |                      |        |   |                      |   |
| Net loss                                                                          |   | $                         | (871,773    | )      |                      | $      | (668,380 | ) |
| Adjustments to reconcile net loss to net cash used in operating activities:       |   |                      |        |   |                      |   |   |   |
| Accretion of asset retirement obligation                                          |   |                      | 70,061      |   |                      |   | 64,479 |   |
| Depreciation, depletion and amortization                                          |   |                      | 163,761     |   |                      |   | 7,073 |   |
| Stock-based compensation                                                          |   |                      | 66,098      |   |                      |   | 121,541 |   |
| Foreign exchange changes                                                          |   |                      | -           |   |                      |   | (46,538 | ) |
| Changes in operating assets and liabilities:                                      |   |                      |        |   |                      |   |   |   |
| Foreign exchange changes                                                          |   |                      | -           |   |                      |   | 1,467 |   |
| Prepaid expenses and deposits                                                     |   |                      | (159,131    | )      |                      |   | (44,904 | ) |
| Other receivables                                                                 |   |                      | 50,163      |   |                      |   | 44,472 |   |
| Accounts payable and accrued liabilities                                          |   |                      | (2,130,307  | )      |                      |   | (214,576 | ) |
| Cash used in operating activities                                                 |   |                      | (2,811,128  | )      |                      |   | (735,366 | ) |
|                                                                              |   |                      |        |   |                      |   |   |   |
| CASH FLOWS FROM INVESTING ACTIVITIES                                              |   |                      |        |   |                      |   |   |   |
| Purchase of property and equipment                                                |   |                      | (59,593     | )      |                      |   | - |   |
| Oil and gas property expenditures                                                 |   |                      | (63,865,900 | )      |                      |   | (4,395,672 | ) |
| Cash advanced to operators for oil and gas property expenditures                  |   |                      | (2,331,241  | )      |                      |   | - |   |
| Amount receivable from joint venture partner                                      |   |                      | (1,322,678  | )      |                      |   | - |   |
| Cash used in investing activities                                                 |   |                      | (67,579,412 | )      |                      |   | (4,395,672 | ) |
|                                                                              |   |                      |        |   |                      |   |   |   |
| CASH FLOWS FROM FINANCING ACTIVITIES                                              |   |                      |        |   |                      |   |   |   |
| Issuance of common stock for exercise of options                                  |   |                      | 12,779      |   |                      |   | - |   |
| Proceeds from issuance of common stock                                            |   |                      | 142,312,500 |   |                      |   | 9,472,957 |   |
| Common stock issuance costs                                                       |   |                      | (7,245,980  | )      |                      |   | (761,196 | ) |
| Cash provided by financing activities                                             |   |                      | 135,079,299 |   |                      |   | 8,711,761 |   |
|                                                                              |   |                      |        |   |                      |   |   |   |
| Foreign exchange change on cash                                                   |   |                      | -           |   |                      |   | 54,876 |   |
|                                                                              |   |                      |        |   |                      |   |   |   |
| NET INCREASE IN CASH                                                              |   |                      | 64,688,759  |   |                      |   | 3,635,599 |   |
|                                                                              |   |                      |        |   |                      |   |   |   |
| CASH, BEGINNING OF PERIOD                                                         |   |                      | 57,773,269  |   |                      |   | 4,878,601 |   |
|                                                                              |   |                      |        |   |                      |   |   |   |
| CASH, END OF PERIOD                                                               |   | $                         | 122,462,028 |   |                      | $      | 8,514,200 |   |
|                                                                              |   |                      |        |   |                      |   |   |   |
| Non-cash investing activities                                                     |   |                      |        |   |                      |   |   |   |
| Additions to oil and gas properties through accounts payable and accrued expenses |   | $                         | 1,473,037   |   |                      | $      | - |   |
| Additions to oil and gas properties through the issuance of common stock          |   | $                         | 11,780,358  |   |                      | $      | - |   |

----

----

|                         |   | For the three |      |   | For the     |   |
|------------------------------|--------|-------------------------|-----------|--------|------------------|--------|
|                    |   | months ended       |      |   | year ended  |   |
|                    |   | April 30,          |      |   | January 31, |   |
|                         |   | 2011                    |      |   | 2011             |   |
| Balance, beginning of period |   | $                       | 1,403,697 |   |             | $      | 1,180,515 |   |
| Liabilities incurred         |   |                    | 10,269    |   |             |   | 2,224 |   |
| Revision of estimates        |   |                    | (53,322   | )      |             |   | - |   |
| Liabilities settled          |   |                    | -         |   |             |   | (29,361 | ) |
| Accretion                    |   |                    | 70,061    |   |             |   | 250,319 |   |
| Balance, end of period       |   | $                       | 1,430,705 |   |             | $      | 1,403,697 |   |

----

|                                                      |   | April 30, |       |   | January 31, |   |
|-----------------------------------------------------------|--------|-----------|------------|--------|------------------|--------|
|                                                      |   | 2011      |       |   | 2011             |   |
| Oil and gas properties, full cost method:                 |   |      |       |   |             |   |
| Unevaluated costs, not yet subject to amortization        |   | $         | 86,309,595 |   |             | $      | 15,206,667 |   |
| Evaluated costs                                           |   |      | 10,919,924 |   |             |   | 7,023,218 |   |
|                                                      |   |      | 97,229,519 |   |             |   | 22,229,885 |   |
| Less accumulated amortization                             |   |      | (259,762   | )      |             |   | (96,000 | ) |
| Net carrying value of oil and gas properties              |   |      | 96,969,757 |   |             |   | 22,133,885 |   |
| Cost of other property and equipment                      |   |      | 59,593     |   |             |   | - |   |
| Less accumulated depreciation and amortization            |   |      | -          |   |             |   | - |   |
| Net property and equipment                                |   | $         | 97,029,350 |   |             | $      | 22,133,885 |   |
|                                                      |   |      |       |   |             |   |   |   |
| Total property and equipment located in the United States |   | $         | 93,029,350 |   |             | $      | 18,133,885 |   |
| Total property and equipment located in Canada            |   | $         | 4,000,000  |   |             | $      | 4,000,000 |   |

|   | · | On February 15, 2011, the Company issued 433,500 shares of common stock to Williston Exploration LLC in the second closing of the Williston acquisition (see Note 3 of our consolidated financial statements included in our Annual Report on Form 10-K for the fiscal year ended January 31, 2011). |
|--------|--------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

|   | · | On April 1, 2011, the Company issued 1,004,199 shares of common stock to Slawson Exploration Company, LLC and certain other related parties for the purchase of approximately 6,716 undeveloped net acres in Williams County, North Dakota in addition to $14.5 million in cash. |
|--------|--------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | In March 2011, the Company issued 18,975,000 shares of common stock in a public offering for gross proceeds of $142.3 million.  The Company paid approximately $7.2 million in expenses related to this offering. |
|--------|--------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | In March 2011, 4,167 shares were issued pursuant to the exercise of stock options. |
|--------|--------|------------------------------------------------------------------------------------|

|    |           |   | OPTIONS OUTSTANDING |    |   | OPTIONS EXERCISABLE |   |
|---------|----------------|--------|---------------------|---------|--------|---------------------|--------|
|    |           |   | Outstanding         |    |   | Weighted-Average    |   |   | Exercisable |   |   | Weighted-Average |   |
|    |           |   | at April 30,        |    |   | Remaining           |   |   | at April 30, |   |   | Remaining |   |
|    | Exercise Price |   | 2011                |    |   | Contractual life    |   |   | 2011 |   |   | Contractual life |   |
| $  | 3.00           |   |                | 59,166  |   |                |   | 2.83 |   |   |   | 36,667 |   |   |   | 2.85 |   |
|    |           |   |                |    |   |                |   |   |   |   |   |   |   |   |   |   |   |
| $  | 1.25           |   |                | 280,000 |   |                |   | 3.59 |   |   |   | 93,333 |   |   |   | 3.59 |   |

----

|                                            |   | Number of Shares |      |   | Weighted-AverageAward Date FairValue |   |
|-------------------------------------------------|--------|----------------------------|-----------|--------|------------------------------------------------|--------|
| Restricted stock outstanding - January 31, 2011 |   |                       | 509,636   |   |                                           | $      | 4.85 |   |
| Restricted stock granted - one year vesting     |   |                       | 318,474   |   |                                           | $      | 8.15 |   |
| Restricted stock granted - three year vesting   |   |                       | 1,307,362 |   |                                           | $      | 8.01 |   |
| Restricted stock outstanding - April 30, 2011   |   |                       | 2,135,472 |   |                                           | $      | 7.28 |   |

----

----

----

----

|                                                     |   | Quarter ended April 30, |      |
|----------------------------------------------------------|--------|----------------------------------------|-----------|
|                                                     |   | 2011                                   |      |   | 2010 |   |
| Oil sold (barrels)                                       |   |                                   | 6,785     |   |   |   | - |   |
| Average oil price                                        |   | $                                      | 75.65     |   |   | $ | - |   |
| Oil revenue                                              |   | $                                      | 513,282   |   |   | $ | - |   |
| Natural gas sold (mcf)                                   |   |                                   | -         |   |   |   | 7,784 |   |
| Average gas price                                        |   | $                                      | -         |   |   | $ | 5.03 |   |
| Natural gas revenue                                      |   | $                                      | -         |   |   | $ | 39,193 |   |
| Total oil and gas revenues                               |   | $                                      | 513,282   |   |   | $ | 39,193 |   |
| Less royalties                                           |   |                                   | -         |   |   |   | 6,274 |   |
| Less lease operating expenses                            |   |                                   | 68,835    |   |   |   | 7,208 |   |
| Less oil and gas amortization expense                    |   |                                   | 163,761   |   |   |   | - |   |
| Less accretion of asset retirement obligations           |   |                                   | 70,061    |   |   |   | 64,479 |   |
| Income (loss) from oil and gas operations           |   | $                                      | 210,625   |   |   | $ | (38,768 | ) |
| Other income                                             |   |                                   | 95,473    |   |   |   | 341 |   |
| Plus foreign exchange gain                               |   |                                   | 8,262     |   |   |   | 49,802 |   |
| Less depreciation of furniture and equipment             |   |                                   | -         |   |   |   | 7,073 |   |
| Less general and administrative expenses                 |   |                                   | 1,186,133 |   |   |   | 672,682 |   |
| Net Loss                                                 |   | $                                      | (871,773  | ) |   | $ | (668,380 | ) |
| Total barrels of oil equivalent (“boe”) sold |   |                                   | 6,785     |   |   |   | 1,297 |   |
| Oil and natural gas revenue per boe sold                 |   | $                                      | 75.65     |   |   | $ | 30.21 |   |
| Lease operating expense per boe sold                     |   | $                                      | 10.15     |   |   | $ | 5.56 |   |
| Amortization expense per boe sold                        |   | $                                      | 24.14     |   |   | $ | - |   |

----

|                                     |   | April 30, |      |   | April 30, |   |
|------------------------------------------|--------|-----------|-----------|--------|-----------|--------|
|                                     |   | 2011      |      |   | 2010      |   |
| Salaries, benefits and consulting fees   |   | $         | 506,589   |   |      | $      | 281,241 |   |
| Office costs                             |   |      | 278,922   |   |      |   | 153,745 |   |
| Professional fees                        |   |      | 170,477   |   |      |   | 64,851 |   |
| Public company costs                     |   |      | 164,047   |   |      |   | 51,304 |   |
| Stock-based compensation                 |   |      | 66,098    |   |      |   | 121,541 |   |
| Total general and administrative expense |   | $         | 1,186,133 |   |      | $      | 672,682 |   |

----

----

----

| 31.01 | Certification of Chief Executive Officer pursuant to Exchange Act Rules 13a-14(a) and 15d-14(a), as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 |
|-------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 31.02 | Certification of Chief Financial Officer pursuant to Exchange Act Rules 13a-14(a) and 15d-14(a), as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 |
|-------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 32.01 | Certifications of Chief Executive Officer and Chief Financial Officer pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 |
|-------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

|                           | TRIANGLE PETROLEUM CORPORATION                                                        |
|--------------------------------|---------------------------------------------------------------------------------------|
|                           |                                                                                  |
| Date:  June 14, 2011 | By:                                                                                   | /s/ PETER HILL |
|                           | Peter Hill                                                                            |
|                           | Chief Executive Officer (Principal Executive Officer)                                 |
|                           |                                                                                  |
| Date:  June 14, 2011 | By:                                                                                   | /s/ JONATHAN SAMUELS |
|                           | Jonathan Samuels                                                                      |
|                           | Chief Financial Officer (Principal Financial Officer andPrincipal Accounting Officer) |

----