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TPET

Trio Petroleum Corp.

https://trio-petroleum.com

Industry

Oil & Gas Exploration & Production

Trio Petroleum Corp. operates as an oil and gas exploration and development company. The company owns an 85.75% working interest in the approximately 9,300-acre South Salinas project located in Monterey, California. It also holds an option to acquire a 100% working interest in the Union Avenue Field located in Bakersfield, California. The company was incorporated in 2021 and is headquartered in Bakersfield, California.

Open

1.71

Mkt cap

4.3M

Volume

698K

High

2.25

P/E Ratio

-0.36

52-wk high

2.25

Low

1.42

Div yield

N/A

52-wk low

0.08

Trio Petroleum is planning to increase oil production at McCool Ranch, Presidents Field, and Asphalt Ridge through acid treatments and cyclic-steam operations. The company aims for significant output increases.

Portfolio Pulse from Benzinga Newsdesk

October 15, 2024 | 12:45 pm

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.

Portfolio Pulse from Benzinga Newsdesk

October 10, 2024 | 7:23 pm

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.

Portfolio Pulse from Benzinga Newsdesk

October 10, 2024 | 12:35 pm

Trio Petroleum has successfully initiated oil production from its first well at the Asphalt Ridge Project in Utah. The company is using a downhole heater to reduce bitumen viscosity, facilitating the pumping process to the surface.

Portfolio Pulse from Benzinga Newsdesk

September 12, 2024 | 12:33 pm

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.

Portfolio Pulse from Benzinga Newsdesk

September 03, 2024 | 12:46 pm

Trio Petroleum Corp (NYSE American: TPET) provided an update on its Asphalt Ridge Project in Uintah County, Utah. The company reported encouraging initial results from production testing with a downhole-heater at the 2-4 well and plans to use a more powerful heater. First oil production is expected in August-September 2024, with the drilling of a third well planned for the same period. The option period to acquire the remaining 17.75% working interest has been extended to October 10.

Portfolio Pulse from Benzinga Newsdesk

August 08, 2024 | 12:55 pm

Palantir Technologies Inc (NYSE:PLTR) shares surged 9.6% in pre-market trading after reporting better-than-expected Q2 results. Other notable pre-market movers include Lytus Technologies Holdings (NASDAQ:LYT), Lumen Technologies (NYSE:LUMN), CNS Pharmaceuticals (NASDAQ:CNSP), AgriFORCE Growing Systems (NASDAQ:AGRI), and SunPower Corporation (NASDAQ:SPWR).

Portfolio Pulse from Avi Kapoor

August 06, 2024 | 9:16 am

Trio Petroleum Corp (NYSE American: TPET) has appointed co-founder and Chairman Robin Ross as its new CEO, effective July 11, 2024. Ross played a key role in taking the company public and funding its initial projects.

Portfolio Pulse from Benzinga Newsdesk

July 15, 2024 | 11:12 am

Trio Petroleum Corp (NYSE American: TPET) received its first revenue payment in June for its share of revenue from April oil sales at McCool Ranch Field in Monterey County, California. The HH-1 well at McCool Ranch is producing steadily at approximately 30 barrels of oil per day (BOPD).

Portfolio Pulse from Benzinga Newsdesk

July 01, 2024 | 12:35 pm

Trio Petroleum has announced significant changes in its leadership. Robin Ross returns as Chairman of the Board, Stan Eschner transitions to Vice Chairman, and former CEO Frank Ingriselli resigns as Director effective June 17, 2024.

Portfolio Pulse from Benzinga Newsdesk

June 20, 2024 | 12:11 pm

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