Company retires remaining Outstanding Convertible Investments

Core Points - Trio Petroleum Corp has fully repaid senior secured convertible promissory notes totaling $1.6 million as of January 7, 2025, which were issued in April and June 2024 [1][2] - The repayment of these notes has removed the associated security interest in all of Trio's assets, allowing the company to focus on business growth [2][3] - The company plans to rework existing wells and develop new assets, aiming for projects that generate immediate cash flow or offer transformative growth potential [3] Company Overview - Trio Petroleum Corp is based in Bakersfield, California, and operates in Monterey County, California, and Uintah County, Utah [4] - In Monterey County, the company holds an 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 [4] - In Uintah County, Trio owns a 2.25% working interest in 960 acres and has options to acquire additional interests in both the 960 acres and an adjacent 1,920 acres [4]