Trio Petroleum (US:TPET) Globenewswire·2025-11-04 13:00Core Insights - Trio Petroleum Corp has acquired a high-value mineral lease in Alberta, Canada, enhancing its production base and commitment to shareholder value through cash-flow positive resource acquisitions [1][3] - The acquired lease includes four producing wells expected to generate 60 to 70 barrels of oil per day, supported by modern infrastructure for efficient operations [1][6] - The acquisition aligns with the company's strategy to pursue high-quality producing assets and aims for disciplined growth in the Canadian oil market [3][4] Acquisition Details - The purchase price for the mineral lease was $150,000 CAD in cash and $150,000 CAD in restricted shares, along with an additional $10,000 paid to the Receiver [4] - The lease covers a quarter section (160 acres) and includes two wells that will begin production immediately after license transfers [6] Future Potential - The mineral lease offers multiple re-entry opportunities into existing wellbores and several high-potential drilling locations, indicating significant long-term development upside [1][6] - The company has identified over 1,000 barrels of daily production potential among independents, which it aims to target for 2026 [3]