Trio Petroleum Begins Oil Production in Alberta
Trio Petroleum provides an operational update on its Alberta heavy-oil asset located at NW 7-50-1W4, marking the Company's first producing foothold and strategic entry into the Province of Alberta. Trio confirms that, as of January 30, 2026, all required Alberta Energy Regulator approvals and license transfers associated with the property were completed. With regulatory approvals now in place, Trio Canada has transitioned the asset from acquisition and regulatory processing to active field operations. The Company expects to place the following two wells on production within 7 to 10 days, subject to routine field execution timing and severe weather: 100/11-7-50-1W4 and 103/12-7-50-1W4. Based on current operating plans and historical performance of the wells, management anticipates these two wells together will contribute approximately 30 to 40 barrels of oil per day as production is established.
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Strategic Growth Plans: The acquisition is part of Trio's strategy to expand its footprint in lucrative oil regions while maintaining a focus on cost management and operational efficiency, aiming to generate immediate cash flow and long-term value for shareholders.
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Pre-Market Stock Movements: Several stocks experienced significant pre-market trading fluctuations, with Houston American Energy Corp rising 140.3% and Sharplink Gaming Inc falling 64.4%, highlighting the volatility in the market following various earnings reports and announcements.
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Operational Suspension: Trio Petroleum Corp has suspended operations at McCool Ranch and will not pursue acquiring a working interest in the project due to prohibitive natural gas prices and water disposal costs in California.
Strategic Shift: The company plans to redirect its focus towards other sites that are expected to be more economically viable and potentially yield higher profits.
Trio completes acquisition of cash flow positive oil and gas assets in prolific heavy oil region of Saskatchewan Canada
Acquisition Announcement: Trio Petroleum Corp has successfully acquired remaining petroleum and natural gas properties from Novacor Exploration Ltd. in the Lloydminster, Saskatchewan heavy oil region, positioning itself for potential long-term production growth.
Operational Strategy: The company plans to leverage Novacor's operational efficiencies to enhance production and maintain profitability amidst market volatility, with a focus on cost management and strategic growth opportunities.
Trio acquires producing cash flow positive oil and gas assets in prolific heavy oil region of Saskatchewan Canada
Acquisition Announcement: Trio Petroleum Corp has successfully acquired petroleum and natural gas properties from Novacor Exploration Ltd. in Saskatchewan, which positions the company for potential growth in the heavy oil sector with low operational costs and existing production capabilities.
Strategic Growth Plans: The acquisition is part of Trio's strategy to expand its footprint in lucrative oil regions while maintaining a focus on cost management and operational efficiency, aiming to generate immediate cash flow and long-term value for shareholders.
Trio acquires oil and gas assets in heavy oil region of Saskatchewan Canada
Acquisition Details: Trio Petroleum has completed the acquisition of petroleum and natural gas properties from Novacor Exploration, specifically the TWP48 assets, with plans to finalize the TWP47 assets soon. This positions TPET to expand in the promising Lloydminster heavy oil region.
Production Potential: The acquired properties currently have seven producing wells generating approximately 70 barrels of heavy crude oil per day, with potential for additional production through re-entry wells and reactivation of equipped locations.
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