Trio Petroleum Announced Secured Option For 20% Interest In Asphalt Ridge Project, Completed Two Exploratory Wells With Over 190' Oil-Pay In HSO 2-4, Offers Right Of First Refusal On 30K Acres, Option Extension Granted Until December 10; Terms Not Disclosed.
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Trio Petroleum Corp (TPET) has secured an option to acquire a 20% interest in the Asphalt Ridge Project, a significant tar-sand deposit in Utah. The company completed two exploratory wells with promising oil-pay zones and has until December 10, 2024, to exercise its option.
October 10, 2024 | 12:35 pm
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Trio Petroleum Corp has secured an option to acquire a 20% interest in the Asphalt Ridge Project, a major tar-sand deposit in Utah. The company completed two exploratory wells with significant oil-pay zones and has extended its option until December 10, 2024.
The news highlights Trio Petroleum's strategic move to secure a significant interest in a potentially lucrative oil project. The successful completion of exploratory wells and the extension of the option period are positive indicators for future growth and profitability, likely boosting investor confidence and short-term stock price.
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