Trio Petroleum shares are trading higher after the company announced it has a secured option for a 20% interest in the Asphalt Ridge project in Utah. Part of the deal includes the right of first refusal to participate in an additional 30,000 acres of the greater project.
Portfolio Pulse from Benzinga Newsdesk
Trio Petroleum shares rise as the company secures a 20% interest option in Utah's Asphalt Ridge project, with additional rights to participate in 30,000 more acres.
October 10, 2024 | 7:23 pm
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Trio Petroleum's stock is trading higher following the announcement of a secured option for a 20% interest in the Asphalt Ridge project in Utah. The deal also includes a right of first refusal for an additional 30,000 acres.
The secured option for a 20% interest in a significant project like Asphalt Ridge is a positive development for Trio Petroleum, likely boosting investor confidence and driving the stock price up. The additional right of first refusal for 30,000 acres further enhances the potential value of this deal.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100