Trio Petroleum Corp.
- Market Cap (Float-Adj) (Float-adjusted market cap computed by the low-float screener — matches the screener row. May differ from the standard cap (price × all shares outstanding) reported elsewhere.)
- $9.2M
- Price
- $0.207
- % Change (Daily % change from the live per-ticker quote feed.)
- +0.98%
- Volume
- 1.2M
About
Trio Petroleum Corp. operates primarily as an enterprise focused on the discovery and extraction of oil and natural gas. The company maintains an 85.75% operational stake in the expansive South Salinas project, which encompasses approximately 9,300 acres situated near Monterey, California. Additionally, Trio Petroleum holds the contractual right to acquire a complete 100% working interest in the Union Avenue Field, located within Bakersfield, California. The firm was established in 2021 and manages its principal operations from its headquarters, also in Bakersfield, California.
Quick stats
Shares outstanding44.3M
Computed float44.1M
Float / shares99.7%
Cash runway (months)66.5
Key info
SectorEnergy
IndustryOil & Gas Exploration & Production
CIK (Central Index Key — the unique ID the SEC assigns to every filer. Use it to look up the company's filings on EDGAR.)0001898766
Websitehttps://trio-petroleum.com
AI Summary
AI-generated1/6
majorbearishreverse split
Trio Petroleum Corp Announces Proactive Reverse Stock Split and Provides Shareholder Update on Acquisition and Drilling Strategy
Trio Petroleum will effect a 1-for-9 reverse stock split effective August 28, 2026, a proactive measure to maintain compliance with NYSE American listing standards.
The company reports a solid financial foundation with approximately $22 million in cash as of April 30, plus an additional $1.7 million raised through its ATM facility since that date.
Management plans to leverage this liquidity to pursue both acquisitions and new drilling opportunities, aiming to build a diversified portfolio of producing assets despite rising seller valuations.
Red flags
- Reverse stock split executed to protect listing compliance
- High reverse split ratio of 1-for-9 indicates significant prior share price depreciation