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Trio Petroleum Corp. Acquires Saskatchewan Heavy Oil Assets
TPET
M&A
New Projects/Investments
Revenue Acceleration/Inflection
- Trio Petroleum Corp. (TPET), through its wholly-owned subsidiary Trio Petroleum Canada, Corp., acquired Saskatchewan heavy oil assets from Novacor Exploration Ltd. on December 30, 2025.
- The acquisition included four wells, with three currently producing approximately 30 barrels per day and a fourth expected to produce 20 barrels per day when returned to production.
- The total purchase price was CD$1 Million (US$730,300), paid by issuing 912,875 restricted shares of common stock.
- The acquired assets also feature a produced-water disposal facility anticipated to generate up to $100,000 monthly in combined revenue from water disposal and skim oil recovery.
- This strategic acquisition is expected to add immediate oil production, strengthen Trio's asset base, and provide opportunities for near-term operating improvements and future horizontal and multilateral drilling.
Jan 5, 2026, 9:15 PM
Trio Petroleum Corp Announces Strategic Acquisition in Alberta
TPET
M&A
New Projects/Investments
- Trio Petroleum Corp (TPET) announced that its wholly-owned Canadian subsidiary, Trio Petroleum Canada, Corp., acquired a high-value mineral lease covering a quarter section in Alberta, Canada. The transaction closed on November 3, 2025.
- The acquisition includes four fully equipped producing wells with an estimated production of 60 to 70 barrels of oil per day. Two of these wells are expected to begin production immediately upon license transfer.
- The total purchase price for the acquisition was CD$300,000, comprising CD$150,000 in cash and CD$150,000 in restricted shares of common stock, along with an additional CD$10,000 paid to the Receiver.
Nov 4, 2025, 9:15 PM
Trio Petroleum Corp. Highlights Operations and Growth Strategy
TPET
New Projects/Investments
Revenue Acceleration/Inflection
- Trio Petroleum Corp. (TPET), an oil and gas exploration, development, and production company, completed its IPO in April 2023 on NYSE American.
- The company's operations include seven cash flow positive producing wells in Lloydminster, Saskatchewan, with current production of approximately 70 barrels per day and a lift cost of CDN $10.00 per barrel.
- Its South Salinas Project in California, with an 85.75% working interest, holds estimated Probable (P2) Undeveloped reserves of 47 million barrels of oil equivalent (BOE), representing an approximate $2.1 billion in undiscounted net cash flow.
- Trio also has an option to acquire 2000 acres in the P.R. Spring Project in Utah, which could yield upwards of 50,000 barrels a day when fully developed.
Jul 14, 2025, 11:00 AM
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