Trio Petroleum Corp. · AMEX:TPET
Trio Petroleum — Investor Presentation (July 2024)
24 slides from Trio Petroleum's investor presentation, July 2024
Slide 1: Building a Portfolio of High Return Oil and Gas Assets
Building a Portfolio of High Return Oil and Gas Assets INVESTOR PRESENTATION JULY 2024
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. • Completed its IPO in April 2023 on NYSE American: TPET • Primary growth through development of current discoveries in our approx. 10,000-acre South Salinas Project and
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, and Uintah County, Utah. Trio has a large, approximately 9,267-acre asset called the South Salinas
Slide 5: Timeline of Key Events
TIMELINE OF KEY EVENTS 1983 2004 2011 2014 2018 2021 2022 2023 2024 Stan leaves Trio Trio makes Trio acquires Trio obtains Consulting Frank Ingriselli, Michael Robin Ross Oxy as its commercially exploration 30 square approval to geophysicist joins Trio as Peterson becomes Trio ‘Domestic and develops
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 40 million barrels of oil (“MMBO”) plus 42 billion cubic Undeveloped Net Trio Net Trio Net Trio Trio Undiscounted Trio Net Cash Flow feet of gas (“B
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 approximately 9,300 mineral acres and Humpback 100% private property oil field Salinas River Working Interest: 85.75% 30 sq. mi. 3D Royalties: 20% ave
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. Humpback Area: 4 large well pads as shown below HV-1 well pad, prior to drilling HV-3A well pad of discovery well
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: Asphalt Ridge – Multi-Billion-Dollar Opportunity
ASPHALT RIDGE – MULTI-BILLION-DOLLAR OPPORTUNITY Asphalt Ridge One of the largest Heavy Oil and Tar Sand accumulations in North America Located in Uinta Basin, Utah Overview: Trio currently owns 2.25% WI of 960 acres Has option to acquire additional 17.75% for $1,775,000 Each 240 acres has $1B PV10
Slide 13: Asphalt Ridge – Initial Development Phase
ASPHALT RIDGE – INITIAL DEVELOPMENT PHASE First 2 wells drilled May-June 2024 13
Slide 14: Asphalt Ridge – Northeast Utah
ASPHALT RIDGE – NORTHEAST UTAH Asphalt Ridge heavy oil and tar sand accumulation Map 68, Energy Resources Map of Utah. UGMS, 1983 14
Slide 15: Asphalt Ridge – Development Visualization
ASPHALT RIDGE – DEVELOPMENT VISUALIZATION 15
Slide 16: McCool Ranch Field
McCOOL RANCH FIELD Acquired 22% in November 2023 (Currently receiving 80% of economics due to non-consent) Have restarted 3 of 5 wells HH-1 restarted February 2024 – Flow Rate: 47 BOPD 2 additional wells – HH-3 & HH-4 – planned restart Ability to drill 20 new wells History: • Oil field discovered in
Slide 17: Management Team & Advisors
MANAGEMENT TEAM & ADVISORS Robin Ross Chairman & CEO Robin Ross is a co-founder of Trio Petroleum Corp. and a 45-year veteran in financial services and merchant banking. He has been instrumental in syndicating the raising of funds for both private and public companies around the world with combined
Slide 18: Board of Directors
BOARD OF DIRECTORS Stan Eschner Thomas J. Pernice Vice Chairman Director Stan Eschner is a registered geologist, an honorary lifetime member of the Pacific Section Thomas Pernice is an entrepreneur and corporate executive with more than 25 years of the American Association of Petroleum Geologists, a
Slide 19: Board of Directors
BOARD OF DIRECTORS John Randall William J. Hunter Director Director John Randall is a California Licensed Professional Geologist (PG), Texas Licensed William Hunter represents over 20 years as an Industrial and Natural Resources Professional Geoscientist (PG), Louisiana Licensed Geoscientist (PG) an
Slide 20: Management Team & Advisors
MANAGEMENT TEAM & ADVISORS Terry Eschner Steve Rowlee President Chief Operating Officer Terry Eschner is a registered geologist, highly skilled and productive in identifying oil and Steve Rowlee entered the oil industry in 1980 as Manager of Leasing for Bakersfield-based gas opportunities and guidin
Slide 21: Management Team & Advisors
MANAGEMENT TEAM & ADVISORS Gregory L. Overholtzer Gary Horace CFO Operations and Drilling Superintendent Greg Overholtzer is an experienced Chief Financial Officer with a strong background in Gary Horace has spent 48 years in the oil industry, beginning as a roustabout in 1970, publicly traded oil a
Slide 22: 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: $508.03B $283.94B $5.12B $4.72B $520.11M Aera’s operations are centered in California production mainly from Seneca’s West Division fields are Operations in Calif
Slide 23: 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 24: Building a Portfolio of High Return Oil and Gas Assets
Building a Portfolio of High Return Oil and Gas Assets Trio Petroleum Corp. 5401 Business Park, Suite 115 Bakersfield, CA 93309 www.trio-petroleum.com 24