Trio Provides Operational Update

Core Insights - Trio Petroleum Corp is actively working to increase daily oil and gas production across its various assets, with specific operational updates provided for each field [1] McCool Ranch Field - Production has been stable at approximately 20 BOPD from the HH-1 and 35X wells, with plans to acidize these wells to enhance oil production [2] - The company is preparing to return the 58X, HH-3, and HH-4 wells to production in the coming months [2] - Historical data indicates that cyclic-steam operations previously increased production from 30 BOPD to a peak of about 400 BOPD over nine months [2] Presidents Field, South Salinas Project - The HV-3A well commenced oil sales in August 2024, with potential for increased production through acid treatments and additional perforations [3] - Initial expectations for HV-3A include acidizing the current 250 feet of perforations, anticipating production of at least 30 BOPD, with potential for higher rates [3] Asphalt Ridge - The HSO 2-4 well is currently producing around 40 BOPD, with expectations for stabilization [4] - Asphalt Ridge is recognized as one of the largest tar-sand deposits in North America outside Canada, marking significant progress for the company [4] - Projections indicate that three wells at Asphalt Ridge could collectively produce approximately 120-150 BOPD [4] Company Overview - Trio Petroleum Corp is headquartered in Bakersfield, California, with operations in Monterey County, California, and Uintah County, Utah [5] - The company holds a 85.75% working interest in 9,245 acres at the Presidents and Humpback oilfields and a 21.92% working interest in 800 acres in the McCool Ranch Field [5] - In Uintah County, Trio has a 2.25% working interest in 960 acres and options to acquire additional interests in adjacent lands [5]