Trio Reports Notable Increases in Estimated Oil And Gas Reserves; Updated Reserve Report Shows An Estimated Increase Of ~$67M In Discounted Net Cash Flow To $475M From The Company's Probable Undeveloped Reserves In The South Salinas Project's Combined Phases 1-3
Portfolio Pulse from Benzinga Newsdesk
Trio Petroleum Corp (NYSE:TPET) has reported a significant increase in estimated oil and gas reserves, leading to a $67 million rise in discounted net cash flow to $475 million for its South Salinas Project. This update was included in a recent SEC filing.
September 03, 2024 | 12:46 pm
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Trio Petroleum Corp has updated its reserve report, showing a $67 million increase in discounted net cash flow to $475 million from its South Salinas Project. This reflects positively on the company's future revenue potential.
The increase in estimated reserves and net cash flow suggests improved future revenue potential for Trio Petroleum, likely boosting investor confidence and positively impacting the stock price in the short term.
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