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.)
- $8.6M
- Price
- $1.61
- % Change (Daily % change from the live per-ticker quote feed.)
- +2.50%
- Volume
- 38.4K
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 outstanding5.3M
Computed float5.2M
Float / shares97.1%
Cash runway (months)65.6
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-generated1/8
standardbullishm and a
TRIO PETROLEUM ANNOUNCES LLOYDMINSTER ACQUISITION WITH CUMMINGS MULTILATERAL OIL WELL AND WORKOVER PRODUCTION GROWTH OPPORTUNITY
Trio Petroleum's Canadian subsidiary is acquiring 24 heavy-oil wells (4 producing, 20 shut-in) in Saskatchewan's Lloydminster region from Marlin Resources for CDN$800,000 in cash plus an underutilized water disposal asset.
The acquired package brings roughly 37 BOPD of current production, a planned CDN$1.2 million Cummings multilateral well targeting about 4,000 meters of reservoir, and a CDN$425,000 workover program — with similar Cummings wells operated by CNRL producing around 375 BOPD.
All cash and development costs are funded from Trio's cash on hand, and the deal includes a strategically located water disposal facility expected to cut costs and add third-party disposal revenue.
Red flags
- Production being acquired is only ~37 BOPD; growth depends on unproven workover and drilling upside
- Drilling and workover budgets are company estimates with no guaranteed results; forward-looking projections dominate the release