Business
Trio Petroleum Corp. (TPET) Announces Strategic Acquisition of Cash Flow positive production in Alberta
Malibu, California, Nov. 04, 2025 (GLOBE NEWSWIRE) -- Trio Petroleum Corp (NYSE American: TPET) (“Trio” or the “Company”), a California oil and gas company, today is pleased to announce that its wholly owned Canadian Subsidiary Trio Petroleum Canada, Corp. (the 'Company') has acquired a high-value mineral lease covering a quarter section located at NW 7-50-1W4 in Alberta, Canada. This strategic purchase strengthens the company’s production base and underscores its ongoing commitment to expanding
About this update from Trio Petroleum Corp.
[{"type":"image","alt":"Trio Petroleum Corp.","displaySize":"","headline":null,"caption":"Trio Petroleum Corp.","className":"","disableSlideshowImg":false,"size":{"original":{"width":300,"height":59,"url":"https://media.zenfs.com/en/globenewswire.com/cd7dc8fa3d6c19ab0b258572e32387ac"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/RaQ686k6XSrjC_MXmpWD9A--/YXBwaWQ9aGlnaGxhbmRlcjt3PTQyMDtoPTgzO2NmPXdlYnA-/https://media.zenfs.com/en/globenewswire.com/cd7dc8fa3d6c19ab0b258572e32387ac","width":300,"height":59}},"lazy":false},{"type":"text","content":"Malibu, California, Nov. 04, 2025 (GLOBE NEWSWIRE) -- Trio Petroleum Corp (NYSE American: TPET) (“Trio” or the “Company”), a California oil and gas company, today is pleased to announce that its wholly owned Canadian Subsidiary Trio Petroleum Canada, Corp. (the 'Company') has acquired a high-value mineral lease covering a quarter section located at NW 7-50-1W4 in Alberta, Canada. This strategic purchase strengthens the company’s production base and underscores its ongoing commitment to expanding shareholder value through high-quality, cash-flow positive resource acquisitions. The acquired quarter section includes four fully equipped producing wells, the Company believes will produce 60 to 70* barrels of oil per day. These wells are supported by modern surface facilities and infrastructure, enabling efficient operations and immediate revenue generation. As part of the transaction, the Company has acquired two fully equipped wellbores — 100/11-7-50-1W4 and 103/12-7-50-1W4 — which will commence production immediately upon completion of license transfers. The remaining two wells, 100/14-7-50-1W4 and 100/13-7-50-1W4, are being held by the Orphan Well Association (OWA) pending a license transfer request to the Alberta Energy Regulator (AER) from the Company when ready to be integrated into its Alberta operations in the coming weeks. Beyond current production, the mineral lease presents multiple re-entry opportunities into existing wellbores, providing a cost-effective pathway to enhance recovery. Additionally, the property hosts several high-potential drilling locations, offering significant long-term development upside and reserve growth.","length":1669,"tagName":"p"},{"type":"text","content":"*recent internal report by Andrew Smith, P.Geol APEGA","length":53,"tagName":"p"},{"type":"text","content":"Key Hi...