Trio Petroleum Corp Announces Production Test To Commence Following The Successful Completion Of Drilling Operations At South Salinas HV-1 Discovery Well
Portfolio Pulse from Happy Mohamed
Trio Petroleum Corp. (NYSE:TPET) has announced the commencement of a production test at the South Salinas Project HV-1 discovery well following successful drilling operations. The test is set to begin the week of July 10, 2023, and initial results are expected later that week or the following week. The company anticipates that oil production from the well will generate cash flow in Q3 2023, with additional cash flow expected from planned wells and acquisitions of equity interests in other producing assets. The full field development of the project has an estimated net cash flow of approximately $2 billion.

June 30, 2023 | 12:01 pm
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POSITIVE IMPACT
Trio Petroleum's announcement of the production test commencement at the South Salinas Project HV-1 discovery well and expected cash flow in Q3 2023 could positively impact the company's stock in the short term.
The commencement of the production test at the South Salinas Project HV-1 discovery well indicates progress in Trio Petroleum's operations. The expected cash flow in Q3 2023 signals potential earnings, which could attract investors and positively impact the company's stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100