Trio Petroleum Corp. · AMEX:TPET
Trio Petroleum — Investor Presentation (October 2023)
26 slides from Trio Petroleum's investor presentation, Oct 26, 2023
Slide 1: Investor Presentation October 2023
Building On Our Team’s 40-Year History of Success & Production Active in California Since 1983 INVESTOR PRESENTATION OCTOBER 2023
Slide 2: Disclaimer
DISCLAIMER FORWARD-LOOKING STATEMENTS GENERAL DISCLAIMER This presentation contains forward-looking statements regarding future events and the future results This presentation shall not constitute an offer to sell or the solicitation of an offer to buy securities, of Trio Petroleum Corp. (the “Compa
Slide 3: Investment Highlights
INVESTMENT HIGHLIGHTS • Trio Petroleum Corp is an oil and gas company focused on strategic, low-risk, high-return energy projects in California • Completed its IPO in April 2023 on NYSE American: TPET • Primary growth through development of current discoveries in our approx. 10,000-acre South Salina
Slide 4: About Us
ABOUT US Trio Petroleum Corp. is a publicly traded (NYSE:TPET) oil and gas exploration and development company headquartered in Bakersfield, California, with operations in Monterey County, California. Trio has a large, approximately 9,267-acre asset called the “South Salinas Project” where it owns a
Slide 5: Timeline of Key Events
TIMELINE OF KEY EVENTS 1983 2004 2011 2014 2018 2021 2022 2023 Stan leaves Trio Trio makes Trio acquires Trio obtains Consulting Frank Ingriselli, Trio closes IPO Oxy as its commercially exploration 30 square approval to geophysicist former on the NYSE ‘Domestic and develops discovery miles of drill
Slide 6: Opportunity to Positively Impact California's Energy Market
OPPORTUNITY TO POSITIVELY IMPACT CALIFORNIA’S ENERGY MARKET California’s Current Energy Market The South Salinas Project has the potential to California is America’s 6th top oil producing state and 8th overall oil and gas positively impact California’s energy market producer.1 by reducing dependency
Slide 7: Surrounded by Major Production
SURROUNDED BY MAJOR PRODUCTION The South Salinas Project is surrounded by California’s prolific world class oil producing basins and fields. San Andreas Fault Zone Coalinga Field • Drilled Wells: Over 240K Monterey 318+ MMBO produced6 Rinconada • Active Wells: 41K Fault Zone • Operators: 2581 C A L
Slide 8: Project Reserves & Cash Flow
PROJECT RESERVES & CASH FLOW Project Reserves & Cash Flow • We believe the South Salinas Project has the potential to be significant, with an estimated 39.0 million barrels of oil (“MMBO”) plus 40.0 Undeveloped Net Trio Oil Net Trio Gas Net Trio Trio Undiscounted Trio Net Cash Flow billion cubic fee
Slide 9: South Salinas Project, Monterey County, California
SOUTH SALINAS PROJECT, MONTEREY COUNTY, CALIFORNIA Location: Monterey County, California Jolon Rd. N Leasehold: Trio’s extensive leasehold is Hwy 101 9,267 mineral acres and 100% private Humpback property oil field Salinas River Working Interest: 82.75% 30 sq. mi. 3D Royalties: 20% average total roy
Slide 10: Well Pads
WELL PADS Presidents Area: 2 large well pads as shown below The Project includes 6 expansive well pads that simplify permitting by minimizing the need for additional surface disturbance. Well pad of HV-1 discovery/confirmation well drilled in Q2 2023 Humpback Area: 4 large well pads as shown below H
Slide 11: Proximity & Access to Refineries
PROXIMITY & ACCESS TO REFINERIES While oil production from the South Salinas Project would be close to multiple refinery options, the Santa Maria Refinery will be the most cost effective for marketing our crude. C A L IF O R N IA Richmond Refinery 245,271 BOPD2 Oil would be trucked by Gazelle Transp
Slide 12: Presidents Field Direct Analogue with Cat Canyon West Field
PRESIDENTS FIELD APPEARS TO BE DIRECT ANALOGUE WITH 100+ MMBO CAT CANYON WEST FIELD HV-1 well HV-3A well 1 mile Rinconada Fault 1 mile Presidents Field: Cat Canyon West Field: EUR ~ Potential Giant Field 100 + MMBO (Cat Canyon West analogue) Contours on Monterey Fm. Yellow Zone C.I. = 100’ Analogue
Slide 13: HV-1 Confirmation Discovery Well
HV-1 CONFIRMATION DISCOVERY WELL Terry Eschner, President Stan Eschner, Exec. Chairman & Director Frank Ingriselli, Vice Chairman & Director Steve Rowlee, Chief Operating Officer 13
Slide 14: HV-1 Well Drilling Discovered Fractures and Faults with Oil Shows
HV-1 WELL DRILLING DISCOVERED FRACTURES AND FAULTS WITH OIL SHOWS IN EACH ZONE ND, red is Opal CT cross-over “mineral” Mudlog oil Total Gas effect GR RES C1-C5 Porcel-Clystn Dolo FMI, green tadpoles = open fractures Clystn FMI dip data Porcel U. Monterey Clay Cherts Transition Opal CT to Quartz Phas
Slide 15: HV-1 Confirmation Discovery Well – Initial Results
HV-1 CONFIRMATION DISCOVERY WELL – INITIAL RESULTS SPUD Date: May 4, 2023 Discovered ~1,300+ feet of Pay Mid-Monterey Clay Brown Cert Zone - 230’ pay, 6,390 – 6,620 - 350 ft pay, 5,465 – 5,850 - Substantial Fractures - Perforated and Acidized - New Reserves - Swabbing Completed – 7 days - 125 BO/day
Slide 16: Additional Proven Asset Acquisition: McCool Ranch Field
ADDITIONAL PROVEN ASSET ACQUISITON: McCOOL RANCH FIELD • Located near Trio’s South Salinas Project in Monterey County, CA • Trio’s investment is allocated to restart the field’s production with Trio as Operator • Production is expected to establish important cash flow for Trio • Significant upside p
Slide 17: Trio Petroleum Option Potential Assets
TRIO PETROLEUM OPTION POTENTIAL ASSETS Exclusive Options to Acquire Assets Union Avenue Field 40 BCF Gas Field Option Option to Acquire 100% and be Operator Signed Exclusive Option to Acquire Proprietary 3-D Seismic and Operatorship Mature producing field of 40 BCF Field Located in Bakersfield in Ke
Slide 18: Management Team & Advisors
MANAGEMENT TEAM & ADVISORS Michael L. Peterson Stan Eschner CEO & Director Executive Chairman & Director Stan Eschner is a registered geologist, an honorary lifetime member of the Pacific Section Michael Peterson is the CEO of Lafayette Energy Corporation, and Director of Indonesia Energy of the Ame
Slide 19: Management Team & Advisors
MANAGEMENT TEAM & ADVISORS Frank C. Ingriselli Terry Eschner Vice Chairman President Frank Ingriselli is a seasoned leader and entrepreneur with wide-ranging oil exploration and Terry Eschner is a registered geologist, highly skilled and productive in identifying oil and production experience spanni
Slide 20: Management Team & Advisors
MANAGEMENT TEAM & ADVISORS Steve Rowlee Gregory L. Overholtzer Chief Operating Officer CFO Steve Rowlee entered the oil industry in 1980 as Manager of Leasing for Bakersfield-based Greg Overholtzer is an experienced Chief Financial Officer with a strong background in Fuller Oil Company, supervising
Slide 21: Management Team & Advisors
MANAGEMENT TEAM & ADVISORS Gary Horace Operations and Drilling Superintendent Gary Horace has spent 48 years in the oil industry, beginning as a roustabout in 1970, followed by 42 years in drilling operations at the supervisory level. He has been involved in the drilling of ~4,000 wells and has take
Slide 22: Board of Directors
BOARD OF DIRECTORS William J. Hunter John Randall Director Director William Hunter represents over 20 years as an Industrial and Natural Resources John Randall is a California Licensed Professional Geologist (PG), Texas Licensed Investment Banker with $20B in overall transactions, significant experi
Slide 23: Board of Directors
BOARD OF DIRECTORS Thomas J. Pernice Director Thomas Pernice is an entrepreneur and corporate executive with more than 25 years of experience working in the White House as a Presidential appointee under three U.S. Presidents, in the C-Suites of Fortune 500 companies, and as a senior advisor to the F
Slide 24: Industry Leaders in Our Region
INDUSTRY LEADERS IN OUR REGION NYSE:XOM NYSE:CVX NYSE:NFG NYSE:CRC NASDAQ:BRY Market Cap: Market Cap: Market Cap: Market Cap: Market Cap: $430.3B $293.4B $4.8B $3.7B $636.3M Aera’s operations are centered in California production mainly from Seneca’s West Division fields are Operations in California
Slide 25: Environmental, Social & Governance (ESG)
ENVIRONMENTAL, SOCIAL & GOVERNANCE (ESG) As long-term operators and a multi-generational team, we understand the importance of sustainability. Environmental Social Governance An Initial Environment Impact Report (IEIR) We’re focused on producing domestic oil We have significant has been generated fo
Slide 26: Building On Our Team's 40-Year History of Success & Production
Building On Our Team’s 40-Year History of Success & Production Active in California Since 1983 Trio Petroleum Corp. Trio Petroleum Corp. 5401 Business Park, Suite 115 4115 Blackhawk Plaza Circle, Suite 100 Bakersfield, CA 93309 Danville, CA 94506 www.trio-petroleum.com 26
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