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Trio Petroleum Corp. - TPET STOCK NEWS

Welcome to our dedicated page for Trio Petroleum news (Ticker: TPET), a resource for investors and traders seeking the latest updates and insights on Trio Petroleum stock.

Trio Petroleum Corp. (TPET) is a prominent player in the oil and gas exploration and development sector, with a strong focus on California. The company strategically acquires, funds, and operates oil exploration and production assets within the state, leveraging California's rich natural resources to drive its operations.

Core Business: Trio Petroleum specializes in identifying valuable oil fields in California, investing in their development, and optimizing production processes to maximize output. Their expertise lies in revitalizing underperforming wells and employing advanced techniques to increase efficiency and profitability.

Recent Achievements: Recently, Trio Petroleum successfully restarted oil production at the McCool Ranch Field, achieving an output of approximately 400 barrels of fluid per day from its HH-1 and 58X wells. This significant milestone underscores the company's operational capabilities and commitment to enhancing production levels.

Current Projects: The McCool Ranch Field remains a focal point for Trio Petroleum, with ongoing efforts to ramp up production. The HH-1 well is currently producing around 47 barrels of oil per day, and plans are in place to restart the 58X and 35X wells in the near future, further boosting output and solidifying the company's presence in the region.

Financial Condition: Trio Petroleum maintains a robust financial standing, enabling sustained investment in exploration and production activities. This financial stability supports their strategic initiatives and positions them for long-term growth and success in the competitive oil and gas industry.

Partnerships and Investor Relations: The company collaborates with Redwood Empire Financial Communications, with Michael Bayes serving as the Investor Relations contact. This partnership ensures transparent and effective communication with stakeholders, fostering trust and confidence in the company's operations.

News

Trio Petroleum Announces Notice of Noncompliance with NYSE American Listing Standards

Rhea-AI Summary
Trio Petroleum Corp (NYSE American: TPET) received a deficiency letter from NYSE American regarding non-compliance with listing standards due to low share price. The Company aims to improve share price by August 26, 2024, considering options like a reverse stock split if needed.
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Trio Petroleum Corp Provides Update on Monterey County Operations

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Trio Petroleum Corp (NYSE American: TPET) provided an update on its operations in Monterey County, California, announcing the restart of oil production at McCool Ranch Oilfield and the South Salinas Project. The company aims to restart production at the previously idle wells and has plans to drill new wells based on recommendations by an independent engineering firm. TPET's investment is expected to establish important cash flow, with the company receiving a disproportionately high share of the cash flow until payout of its initial investment. The production rig on-site at McCool Ranch was delayed by heavy rainfall, but operations are set to restart this week. TPET plans to initially restart each well 'cold' and transition to cyclic-steam operations when appropriate.
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Trio Petroleum Corp Announces an Option to Acquire a 20% Interest in the Asphalt Ridge Development Project in Utah

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Trio Petroleum Corp (NYSE American: TPET) has secured an option to acquire a 20% interest in a sweet, heavy-oil development project at Asphalt Ridge, estimated to contain 42-92 million barrels of oil. The project is planned to commence in Q1 2024 and is expected to be one of the largest heavy oil deposits in North America outside of Canada, with low wax and negligible sulfur content, making the oil produced very desirable for many industries, including shipping.
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Trio Petroleum Corp Announces the Restart of the McCool Ranch Oil Field

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Trio Petroleum Corp (NYSE American: TPET) provided an update on the restart of the McCool Ranch Oil Field in Monterey County. The company has acquired an approximate 22% working interest in the field and is currently in the process of restarting production from six previously producing wells. The San Ardo WD-1 water disposal well has been successfully refurbished, and testing and repairs of on-site facilities are in progress.
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Trio Petroleum Corp Announces Commencement of Production of Two Wells - its HV-1 Confirmation Well and its HV-3A Discovery Well in the South Salinas Project

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Trio Petroleum Corp (NYSE American: TPET) provided updates on its HV-1 confirmation well and its HV-3A discovery well in the South Salinas Project. The company estimates both wells should be producing on pump in mid- to late-January. The drilling and testing of the HV-1 well showed oil shows and swab testing results of the Mid-Monterey-Clay, a zone previously not assigned any value in the reserve report, which swab tested at rates of up to approximately 125 barrels of oil per day. The Company believes production from this zone will further increase the reserves and PUDs of the Company’s current approximate $2 billion PV(10) reserve value.
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Trio Petroleum Corp Announces an Option to Acquire a 40 BCF Potential Natural Gas Prospect in the Sacramento Basin, California

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Trio Petroleum Corp. secures a four-month option to acquire a natural gas prospect in the Sacramento Basin with potential to produce 40 BCF of gas. The prospect is close to prolific gas fields and has easy access to a gas pipeline with excess capacity.
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Trio Petroleum Corp Announces Acquisition of a 22% Interest in the McCool Ranch Oil Field

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Trio Petroleum Corp has acquired a 22% working interest in the McCool Ranch Oil Field, which is fully permitted for oil and gas production. The company plans to restart production from the field, which is expected to establish important cash flow. The property has significant upside potential with many undrilled infill and development well locations identified.
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Trio Petroleum Corp Announces Appointment of Michael L. Peterson as CEO

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Trio Petroleum Corp announces the appointment of Michael L. Peterson as the new CEO, replacing Frank C. Ingriselli who will become Vice Chairman. Peterson plans to focus on growing Brightening Lives Foundation. Peterson aims to increase Trio's production and cash flow through contemplated acquisitions.
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Trio Petroleum Corp LD Micro Presentation Replay Now Available

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Trio Petroleum Corp announces availability of replay for its October 3rd presentation and Q&A session at LD Micro Main Event Investor Conference.
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Trio Petroleum Corp To Present at LD Micro XVI Main Event Investor Conference on Tuesday, October 3rd at 3:00pm PT

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Trio Petroleum Corp to present at LD Micro XVI Main Event investor conference. Update on HV-1 discovery well: Brown Zone tested with potential oil production of 145 BOPD.
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FAQ

What is the current stock price of Trio Petroleum (TPET)?

The current stock price of Trio Petroleum (TPET) is $1.87 as of January 29, 2025.

What is the market cap of Trio Petroleum (TPET)?

The market cap of Trio Petroleum (TPET) is approximately 12.4M.

What does Trio Petroleum Corp. do?

Trio Petroleum Corp. focuses on oil and gas exploration and development in California, acquiring and operating valuable oil assets.

Where is Trio Petroleum Corp. primarily active?

Trio Petroleum Corp. is primarily active in California, leveraging the state's rich natural resources for its oil exploration and production activities.

What are some recent achievements of Trio Petroleum Corp.?

Recently, Trio Petroleum restarted oil production at the McCool Ranch Field, achieving approximately 400 barrels of fluid per day from the HH-1 and 58X wells.

What is the current production status at McCool Ranch Field?

The HH-1 well at McCool Ranch Field is producing around 47 barrels of oil per day, with plans to restart the 58X and 35X wells shortly.

Who handles investor relations for Trio Petroleum Corp.?

Investor relations for Trio Petroleum Corp. are managed by Redwood Empire Financial Communications, with Michael Bayes as the point of contact.

How can I contact Trio Petroleum's investor relations?

You can contact Trio Petroleum's investor relations through Michael Bayes at Redwood Empire Financial Communications by calling (404) 809 4172 or emailing michael@redwoodefc.com.

What is Trio Petroleum Corp.'s financial condition?

Trio Petroleum maintains a robust financial standing, supporting sustained investment in their exploration and production activities.

What strategic focus does Trio Petroleum Corp. have?

Trio Petroleum Corp. strategically focuses on acquiring, funding, and optimizing oil exploration and production assets in California.

What is the significance of the McCool Ranch Field for Trio Petroleum?

The McCool Ranch Field is a key project for Trio Petroleum, with significant ongoing efforts to optimize production and enhance output.

Who is the main contact for investor relations at Trio Petroleum?

The main contact for investor relations at Trio Petroleum is Michael Bayes at Redwood Empire Financial Communications.
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Trio Petroleum Corp.

NYSE:TPET

TPET Rankings

#5571 Ranked by Market Cap
N/A Ranked by Dividends

TPET Stock Data

12.44M
6.17M
11%
0.42%
7.69%
Oil & Gas E&P
Crude Petroleum & Natural Gas
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