Trio Petroleum Corp Announces an Option to Acquire a 20% Interest in the Asphalt Ridge Development Project in Utah
Trio Petroleum Corp. (TPET)
Company Research
Source: GlobeNewswire
Estimated Contingent Resources of 42-92 Million Barrels of Oil Development of this Potential Giant Oilfield Commencing January 2024 Bakersfield, CA, Jan. 05, 2024 (GLOBE NEWSWIRE) -- Trio Petroleum Corp (NYSE American: TPET) (“Trio” or the “Company”), a California-based oil and gas company, today announced that it has secured an option (the “Option”) to acquire a 20% interest in a sweet (i.e., low sulfur content), heavy-oil development project at Asphalt Ridge, located near the town of Vernal in Uinta County in northeastern Utah. Development of Asphalt Ridge is planned to commence in Q1 2024 by a third party operator using advanced cyclic-steam production techniques. The project is estimated by an independent reserve engineering firm to be one of the largest heavy oil deposits in North America outside of Canada, making it a potential giant oilfield, and is unique given its low wax and negligible sulfur content, which is expected to make the oil produced very desirable for many
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News
- Company Commences Oil Sales from California Assets [Yahoo! Finance]Yahoo! Finance
- Company Commences Oil Sales from California AssetsGlobeNewswire
- Investing Experts: Here's How To Pick Your First Stocks in 2024 [Yahoo! Finance]Yahoo! Finance
- Company Provides Operational Update for Monterey County Oil Producing Assets [Yahoo! Finance]Yahoo! Finance
- Company Provides Operational Update for Monterey County Oil Producing AssetsGlobeNewswire
TPET
Sec Filings
- 4/25/24 - Form 8-K
- 4/19/24 - Form 8-K
- 4/17/24 - Form 8-K
- TPET's page on the SEC website