Trio Petroleum Corp. Provides Alberta Operations Update and Confirms Near-Term Production Commencement

Core Viewpoint - Trio Petroleum Corp has successfully transitioned its Alberta heavy-oil asset into active production operations following the completion of all necessary regulatory approvals and license transfers [2][9]. Operational Update - As of January 30, 2026, Trio Canada has completed all required approvals from the Alberta Energy Regulator, allowing the asset to move from acquisition to active field operations [2]. - Surface lease agreements for initial producing well locations are expected to be executed by the end of the week, enabling the commencement of production operations [3]. Initial Production and Operational Plan - The company plans to place two wells into production within 7 to 10 days, anticipating a combined output of approximately 30 to 40 barrels of oil per day as production is established [4]. - Additional perforation operations are planned to access new zones within existing wellbores, aimed at enhancing production rates and improving long-term recovery [5]. Additional Wells and Near-Term Upside - Two additional wells are included in the near-term development plan, with a target to bring them into production by March 31, 2026, subject to surface access and operational sequencing [6]. Strategic Significance - The Alberta asset marks Trio's first producing platform in a well-established heavy-oil region, providing immediate production and existing infrastructure, which is seen as a foundation for future growth in Alberta [8]. Management Commentary - The CEO emphasized the importance of this milestone, highlighting the company's ability to convert acquisitions into near-term production and cash flow, positioning for continued growth in Western Canada [9].