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Teton Energy Corporation Updates Goliath Project Activity

Posted on: Thursday, 15 November 2007, 09:00 CST

Teton Energy Corporation ("Teton") announced today that preliminary production testing has recently been completed on the Solberg 32-2 well, located within the Company's approximate 87,000 gross acre Goliath project in Williams County, North Dakota. Teton owns a non-operated 5.95% working interest (a net revenue interest of approximately 4.75%) in the well which was drilled to a total depth of approximately 14,400 feet as an offset to a Red River formation discovery well that was drilled and is owned by another operator. The Solberg 32-2 well tested at a flow rate of approximately 2.1 million cubic feet of natural gas and 408 barrels of condensate (light oil) per day at an average flowing tubing pressure of 2,500 psi on a 13/64ths choke. Additional potentially productive intervals within the Red River formation have not yet been tested, but could be tested and possibly produced at a later date. The Solberg 32-2 well is currently shut-in and waiting on completion of a nearby natural gas processing plant, which is expected to be operational by year-end.

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Teton and other joint interest owners are currently acquiring additional seismic data by conducting a 10.5 square mile 3-D seismic program in the area around the Solberg 32-2 well. Data obtained from this seismic program will assist in the selection of additional Red River offset locations to the Solberg 32-2 well, and may identify additional Red River targets in this trend. Teton's working interest in future wells will vary, and could be as high as 25%.

Company Description:

Teton Energy Corporation , is an independent oil and gas exploration and production company based in Denver, Colorado. Teton is focused on the acquisition, exploration and development of North American properties and has current operations in the Rocky Mountain region of the U.S. The Company's common stock is listed on the American Stock Exchange under the ticker symbol "TEC". For more information about the Company, please visit the Company's website at http://www.teton-energy.com/.

Forward-Looking Statements:

This news release may contain certain forward-looking statements, including declarations regarding Teton and its subsidiaries' expectations, intentions, strategies and beliefs regarding the future within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. All statements contained herein are based upon information available to Teton's management as at the date hereof and actual results may vary based upon future events, both within and without the control of the Teton's management, including risks and uncertainties that could cause actual results to differ materially including, among other things, the impact that additional acquisitions may have on the Company and its capital structure, exploration results, market conditions, oil and gas price volatility, uncertainties inherent in oil and gas production operations and estimating reserves, unexpected future capital expenditures, competition, governmental regulations and other factors discussed in the Company's Annual Report on Form 10-K for the year ended December 31, 2006, filed with the Securities and Exchange Commission. More information about potential factors that could affect the Company's operating and financial results are included in Teton's Annual Report on Form 10-K for the year ended December 31, 2006. Teton's disclosure reports are on file at the Securities and Exchange Commission and can be viewed on Teton's website at http://www.teton-energy.com/. Copies are available without charge, upon request from the Company.

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Teton Energy Corporation

CONTACT: Bill Brand of Teton Energy Corporation, +1-303-565-4600,bbrand@teton-energy.com

Web site: http://www.teton-energy.com/

Source: PRNewswire-FirstCall

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