Core Viewpoint - Trio Petroleum Corp is actively working to increase oil production and cash flow at the McCool Ranch Oilfield in Monterey County, California, by resuming cyclic-steam operations and restarting production from additional wells [2][3][5]. Group 1: Production and Operations - Current oil production from the HH-1 and 35X wells is stable at approximately 10 to 20 barrels of oil per day (BOPD) [3]. - The company plans to resume cyclic-steam operations at the HH-1 and 35X wells, which have historically shown significant production increases when using this method [5][6]. - Previous cyclic-steam operations at McCool Ranch led to production increases from 30 BOPD to a peak of about 400 BOPD over nine months, with the HH-1 and 35X wells achieving rates of 175 and 290 BOPD, respectively, shortly after steaming [6]. Group 2: Future Development Plans - KLS Petroleum Consulting LLC recommends developing McCool Ranch with horizontal wells, estimating that approximately 22 additional horizontal wells could be accommodated [7]. - Trio Petroleum Corp may commence a drilling program in 2025 to further develop the McCool Ranch Field [7]. - The company intends to add the reserve value of the McCool Ranch Field to its reserve report after further observation and review of the restarted oil production [7]. Group 3: Strategic Focus - The company is evaluating various options to optimize production and minimize costs beyond cyclic-steam operations [8]. - Trio Petroleum Corp aims to acquire projects that generate immediate cash flow or offer transformative growth potential, aligning with its long-term vision of creating exponential value [8]. - The company holds a significant working interest in various oilfields, including an 85.75% interest in 9,245 acres at the Presidents and Humpback oilfields and a 21.92% interest in 800 acres in the McCool Ranch Field [9].

Bakersfield, CA, Nov. 26, 2024 (GLOBE NEWSWIRE) -- Trio Petroleum Corp (NYSE American: “TPET”, “Trio” or the “Company”), a California-based oil and gas company, today provided updates on its Asphalt Ridge Project in Uintah County, Utah. TPET announced on January 5, 2024, that it had secured an option (the “Option”) to acquire a 20% interest in a sweet (i.e., low sulfur content), heavy-oil and tar-sand development project at Asphalt Ridge, located near the town of Vernal in Uintah County, northeastern Utah. ...

Company Details Plans to Increase Production Bakersfield, CA, Oct. 15, 2024 (GLOBE NEWSWIRE) -- Trio Petroleum Corp (NYSE American: TPET) ("Trio" or the "Company"), a California-based oil and gas company, today provided an operational update on each of its current oil and gas assets, by field. The update details the specific operational activities the Company is taking to increase daily oil and gas production. McCool Ranch Field Production has been stable for a number of months averaging about 20 BOPD from ...

Bakersfield, CA, Oct. 10, 2024 (GLOBE NEWSWIRE) -- Trio Petroleum Corp (NYSE American: "TPET", "Trio" or the "Company"), a California-based oil and gas company, today provided updates on its Asphalt Ridge Project in Uintah County, Utah. TPET announced on January 5, 2024, that it had secured an option (the "Option") to acquire a 20% interest in a sweet (i.e., low sulfur content), heavy-oil and tar-sand development project at Asphalt Ridge, located near the town of Vernal in Uintah County, northeastern Utah. ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Quarterly Period Ended July 31, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _______ to ________. Commission file number: 001-41643 TRIO PETROLEUM CORP. (Exact name of Registrant as specified in its charter) Delaware 87-1968201 | --- | --- | --- | ...

Bakersfield, CA, Sept. 12, 2024 (GLOBE NEWSWIRE) -- Trio Petroleum Corp (NYSE American: "TPET", "Trio" or the "Company"), a California-based oil and gas company, is pleased to announce oil production, using a downhole heater, from its first well HSO 2-4 on its Asphalt Ridge Project in Uintah County, Utah. This confirms that the pay zone bitumen, when heated, becomes less viscous and is able to drain into the wellbore and be pumped to the surface. Commented Robin Ross, CEO of Trio, "The Asphalt Ridge Project ...

Discounted Net Cash Flow (at 10%) increase of $67 Million to $475 Million Based on Updated Operations Bakersfield, CA, Sept. 03, 2024 (GLOBE NEWSWIRE) -- Trio Petroleum Corp (NYSE American: TPET) ("Trio" or the "Company"), a California-based oil and gas company, today provided an update on estimates of oil and gas reserves and future net cash flows at its South Salinas Project in Monterey County, California. The Company recently filed with the Securities and Exchange Commission ("SEC") a Registration Statem ...

Co-Founder and Chairman Robin Ross Accepts Expanded Role "When I accepted the position of CEO of Trio, it was understood that it would be on a temporary basis, and during my tenure, the primary objective was to transition the Company from an exploration-based business to a financial stable, cash flowing enterprise with a diversified portfolio of oil and gas assets. My first action was to acquire a working interest in the McCool Ranch Field where we could immediately restart wells as well as have the ability ...

Company Collects First Revenue Check for April Oil Sales at McCool Ranch Field Bakersfield, CA, July 01, 2024 (GLOBE NEWSWIRE) -- Trio Petroleum Corp (NYSE American: "TPET", "Trio" or the "Company"), a California-based oil and gas company, today announced that it received its first revenue payment in June for its proportionate share of revenue from April oil sales at McCool Ranch Field in Monterey County, California. "Our newest asset, the Asphalt Ridge Project in Utah has its first two wells drilled and co ...

"I look forward to helping to build Trio into the success we envisioned when we founded the Company," commented Mr. Ross. Bakersfield, CA, June 20, 2024 (GLOBE NEWSWIRE) -- Trio Petroleum Corp. (NYSE American: "TPET", "Trio" or the "Company"), a California-based oil and gas company, today announced Trio co-founder and former board member Robin Ross has returned to the Company's board of directors as Chairman as of June 17, 2024. As part of the transition, Trio's Current Chairman and co-founder Stan Eschner ...