LETTER AGREEMENT

Development Agreement

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This Development Agreement involves

Triangle Petroleum CORP | Triangle USA Petroleum Corporation | Hunter Energy LLC

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Title: LETTER AGREEMENT
Date: 11/8/2005

Exhibit 10.1

LETTER AGREEMENT

October 28, 2005

Mr. Ron Hietala

Triangle USA Petroleum Corporation

Suite 1110, 521 - 3 Avenue SW

Calgary, Alberta T2P 3T3

Dear Ron,

The following is a summary table demonstrating the terms and conditions related to our deal to jointly develop certain oil & gas properties from the Hunter Energy LLC portfolio.

Triangle USA Petroleum Corporation commits to the purchase of 25% Working Interest positions in three prospects located as follows:

Price:

Prospect	Acquisition Fee	Land Purchase AFE	Discovery Well AFE	Provisional Total
Colorado	666,668		660,000	1,326,668
Wyoming	666,666	178,000	705,000	1,549,666
Montana	666,666	196,667	752,667	1,616,000
Total	2,000,000	374,667	2,117,667	4,492,334

Payment:

US$1,000,000 prior to Nov. 4 ^th 2005 (subject to finalizing standard agreements).

US$1,000,000 prior to Nov 30 ^th 2005

Carried Interest:

In addition to Triangle

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