News & Events zu Trio Petroleum Corp (TPET)TPETTrio Petroleum Corp

Trio Petroleum Acquires 24 Oil Wells from Marlin Resources

Trio Petroleum announced the acquisition by its Canadian subsidiary of 24 oil wells, with 4 producing and 20 shut-in heavy-oil assets, from Marlin Resources, an active operator in Saskatchewan's Lloydminster region. The acquisition would combine approximately 37 barrels of oil per day of current production with identified existing-well workover upside.

Trio Petroleum Updates Acquisition Strategy, $22 Million Cash

Trio Petroleum provides shareholders with an update regarding its acquisition strategy and ongoing efforts to build a diversified portfolio of cash-flowing oil and gas assets. Trio continues to actively evaluate acquisition opportunities in both Canada and the United States, with its primary focus currently centered on producing oil and gas properties located in Alberta and Saskatchewan, both of which properties are located in Canada. As of its balance sheet dated April 30, 2026, the Company had approximately $22 million in cash and cash equivalents and has raised net proceeds of approximately $1.7 million pursuant to its At-The-Market facility, since that date. To support its acquisition efforts, Trio has assembled a team of experienced industry consultants with expertise in operations, reservoir engineering, land management, production optimization and asset evaluation. Following spring breakup and ongoing field optimization activities, current runtime production from the Company's producing assets is approximately 78.7 barrels of oil per day. Saskatchewan: Since closing its recent acquisition from NovaCor Exploration Ltd., the Company has focused on optimizing and returning acquired Saskatchewan assets to production. Alberta: 11-07-050-01W4 well continues to undergo optimization to address sand-related production challenges; management believes the well is capable of approximately 18 BOPD under stable operating conditions. 12-07-050-01W4 well successfully plugged back from the Colony formation and returned to the Sparky formation, with anticipated stable production of approximately 12 BOPD

Trio Petroleum Raises $19 Million in Funding

Trio Petroleum announced that as of March 18, 2026, the Company had raised $19,017,527 in gross proceeds under its ATM program, resulting in net cash proceeds to Trio of $18,446,993, after payment of commissions. Commented Robin Ross, CEO, "This first quarter has been transformational for Trio as we successfully raised nearly $19 million through our ATM program. Management believes this capital provides a significant opportunity to accelerate our expansion plans in both Canada and the U.S., with a focus on acquiring larger, higher-impact oil and gas projects in the 500 to 1,000 barrels per day range, as well as advancing workover opportunities across our existing assets. While we expect oil prices to remain volatile, we continue to see an upward bias supported by global energy demand. Taken together, we believe that these factors place Trio on a strong trajectory for meaningful production and cash-flow growth."