BREAKING NEWS: (TPET) Needs Full Focus As It Shoots Green Early (Must-Read Now)

TPET is popping green early and for good reason. BREAKING NEWS: (TPET) Needs Full Focus As It Shoots Green Early (Must-Read Now) June 30th Dear Reader, TPET is popping green early and for good reason. If you missed it, the company dropped some huge news. Check it out: Trio Petroleum Corp Announces Production Test to Commence Following the Successful Completion of Drilling Operations at South Salinas HV-1 Discovery Well Production Test Scheduled for the Week of July 10, 2023 Cash Flow Expected in Q3 2023 DANVILLE, CA, June 30, 2023 (GLOBE NEWSWIRE) -- Trio Petroleum Corp. (NYSE American: TPET) (“Trio” or the “Company”), a California-based oil and gas company, today announced that the production test of the South Salinas Project HV-1 discovery well is set to commence the week of July 10, 2023, which will include the perforation and acidization (for borehole acid-cleanup) of the well. The production rig, production tanks and other necessary equipment are scheduled to move onto location starting July 6, 2023. Initial test results are expected to be available late the week of July 10, or the following week. CEO Frank Ingriselli stated: “The success of our drilling program at the HV-1 well has not only surpassed expectations but now pivots to beginning testing operations in the upcoming weeks. The testing operations will play a pivotal role in providing invaluable insights into the production potential of our discovery and the design of our full development plan which, as previously disclosed, has a discounted potential of approximately $2Bn in net cash flow. With the anticipated production from this asset, we are expecting to have cash flowing operations in the third quarter and potentially cash flow positive operations in the fourth quarter. We have diligently executed our ambitious development plan for our South Salinas project, demonstrating our commitment to Trio's exciting trajectory.” Trio anticipates that oil production from the HV-1 well will generate cash flow in Q3, 2023, and that additional cash flow will be generated in Q3-Q4, 2023, from the planned HV-2 and HV-4 wells, and also from acquisitions of equity interests in other producing assets, such as the previously-announced and currently under-review acquisition of an interest in the Union Avenue producing oil field. Full field development of the Project has an estimated net cash flow to the company, discounted at 10%, of approximately $2Bn, as described in the company’s public filings with the SEC and on its website. ... [Read the full article here.]( On top of this awesome news, TPET is trading above [4 key lines]( of potential support over a recent bullish trend. Here's the list: - 5-Day Simple Moving Average (SMA) - 20-Day SMA - 5-Day Exponential Moving Average (EMA) - 13-Day EMA If support grows at those levels, it could act as the building blocks for TPET to try and run down previous highs. Take a moment to review my initial report below and get TPET on radar right now. ----- The year 2023 holds immense potential for growth stories in the energy sector. Despite the recent fluctuations in oil prices, big oil players have pro-fited immensely from the surge in price in the wake of Russia's war in Ukraine. And even with the growing emphasis on renewable energy sources, the demand for oil and natural gas remains strong. The global population continues to grow, and emerging economies require substantial energy resources to fuel their development. As a result, oil and gas exploration companies are well-positioned to meet this demand and capitalize on market trends. Furthermore, market trends indicate that fossil fuels will continue to play a significant role in the energy mix for the foreseeable future. While renewable energy sources are gaining traction, the affordability and security of supply offered by oil and natural gas make them indispensable in meeting global energy needs. Plus, OPEC+'s [recent announcement]( regarding a production cut has significantly impacted oil price projections for 2023 and beyond. As a result of this optimistic development, Daan Struyven, senior energy economist at [Goldman Sachs Commodities Research]( has raised his oil price forecast, anticipating that Brent crude oil will escalate to $95 per barrel by December 2023, and to $100 per barrel from April 2024 and onwards. One California oil and gas explorer could be in a prime position to capitalize on current and future market conditions. With recent news of a "major accumulation of oil and gas" at the company's main asset project, it may just be a matter of time until Wall Street wakes up to this hidden gem. But before that happens, you'll want to get this low float (fewer than 8Mn shares) Nasdaq profile on your radar immediately: *Trio Petroleum Corp. (TPET)* Trio Petroleum Corp is an oil and gas exploration and development company headquartered in Bakersfield, California, with operations in Monterey County, California. Trio has a large, approximately 9,267-acre asset called the “South Salinas Project” where it owns an 85.75% working interest. Trio’s near-term plans include testing and producing the HV-1 well, and then drilling the HV-2 and HV-4 wells. Previous operations on this asset have successfully drilled two (2) production/discovery wells (i.e., the HV-3A and BM 2-2 wells) that Trio now owns. And right now, TPET has several potential catalysts to focus on ahead of Friday's opening bell. Check them out: No. 1 - Strong Volatility Potential Could Be Significant Based On TPET's Low Float No. 2 - Major News Announcement: Company Confirms Oil And Gas Accumulation No. 3 - Signing Key Acquisition Agreement Could Lead To TPET Becoming Cash Flow Positive No. 4 - Added Company Exposure In 2023 From Listing To NYSE American Exchange But more on those on a second... Trio Petroleum Corp. (TPET): Key Company Highlights - Trio Petroleum Corp is an oil and gas company focused on strategic, low-risk, high-return energy projects in California - Completed its IPO in April 2023 on NYSE American: TPET - Primary growth through development of current discoveries in our approx. 10,000-acre South Salinas Project - Ability to drill over 150 wells on current acreage - Expanded growth by identifying and targeting pro-fit generating acquisitions - Agreement to acquire Union Ave. producing field - Pristine balance sheet: $36.49Mn market capitalization (as of 6/28/23), zero debt - Management Team: Over 200 years of California experience South Salinas Project Trio Petroleum is developing the California-based South Salinas Project. The Project The South Salinas Project's P10 (High) estimates of Original Oil In Place (OOIP) and Original Gas In Place (OGIP) under Trio's current leasehold are 2.12 billion barrels of oil (BBO) and 1.18 trillion cubic feet of gas (Tcf), respectively.(1) The project’s P2 Probable + P3 Possible recoverable oil and gas reserves under Trio’s current leasehold are an estimated 131 million barrels of oil plus 189 billion cubic feet of gas, or 163 million barrels of oil equivalent.(1) Location: Monterey County, California Leasehold: Trio’s extensive leasehold is 9,267 mineral acres and 100% private property Working Interest: 85.75% Royalties: 20% average total royalty burden Seismic Data: 30 sq. mi. of 2D & 3D data Oil Gravity: Mid-to-high (18-40 API) Oil Reserves Depth: 4,000’-8,000’ Existing Wells: 6 (2 for production, 1 for water disposal, 3 for redrilling) Permitted Additional Oil/Gas Wells: 3 Well Pads: 6 existing well pads and 2 additional well pads to be constructed Q2-Q4 2023 Production: BM 2-2 well 190 bopd, 6,000 barrels oil cumulative and HV-3A well up to 100 bopd ----- Trio Petroleum Option Potential Assets Exclusive Options to Acquire Assets Environmental, Social & Governance (ESG) As long-term operators and a multi-generational team, the company understands the importance of sustainability. [Company Website]( - [Company Presentation]( ----- And as mentioned above, TPET has several potential breakout catalysts to focus on right now. Check them out: No. 1 TPET Potential Breakout Catalyst - Strong Volatility Potential Could Be Significant Based On TPET's Low Float According to the [Yahoo Finance]( website, TPET has a fairly low float. The website reports this profile to have approximately 7.21Mn shares in its float. Why is that important? It's important on one crucial level. Volatility. Could more positive company news in 2023 provide a near term spark? ----- No. 2 TPET Potential Breakout Catalyst - Major News Announcement: Company Confirms Oil And Gas Accumulation Trio Petroleum Corp Announces that the HV-1 Well has Confirmed a Major Oil and Gas Accumulation in the Presidents Field of its South Salinas Project Oil and Gas Production Rates at the HV-1 Discovery Well to be Determined and Announced after Final Completion Operations DANVILLE, CA, May 16, 2023 (GLOBE NEWSWIRE) -- Trio Petroleum Corp. (NYSE American: TPET) (“Trio”), an oil and gas exploration and development company focused on strategic, high-growth energy projects in California, today announced that its HV-1 well has confirmed that there is a major accumulation of oil and gas in the Presidents Field in its South Salinas Project located in Monterey County, California. The HV-1 well is a two-mile step-out from Trio’s HV-3A discovery well that found high-quality, mid-gravity oil at depths between 3,750 to 5,100 feet. The HV-1 well drilled through approximately 1,800 feet of the Monterey Formation with major indications of oil and gas prior to reaching total depth at 6,631 feet. The company is currently running well casing from surface to total depth to properly complete the well, and is commencing its evaluation of the well data collected. ... The HV-1 well was drilled on a new oil and natural gas field that the company refers to as the Presidents Field, as described in the company’s public filings with the SEC and on the company’s website. The Presidents Field is a large oil and gas development project located in the company’s South Salinas Project in Monterey County, California. The HV-1 well location was chosen based on interpretation of three-dimensional seismic data with the goal of confirming and defining the magnitude of this new oil and gas field, in which Trio owns an 85.75% working interest. Mr. Frank Ingriselli, Trio’s Chief Executive Officer, commented “We are very excited and pleased with our discovery of oil and gas at the HV-1 well and with the positive impact that we expect this well will have on Trio’s future and our commitment to grow shareholder value. We plan to put the HV-1 well on production after we finalize completion operations and our evaluation of the new data we are acquiring from the well, after which we will have a better understanding of production rates, which we plan to announce when available.” [Read the full article here.]( 6/20/23 Activity Update: [Trio Petroleum Corp Announces Update on Activity Related to its HV-1 Discovery Well]( ----- No. 3 TPET Potential Breakout Catalyst - Signing Key Acquisition Agreement Could Lead To TPET Becoming Cash Flow Positive Trio Petroleum Corp. Signs Acquisition Agreement to Acquire up to 100% of Producing Asset Union Avenue Field is Located in Bakersfield, California DANVILLE, CA, May 12, 2023 (GLOBE NEWSWIRE) -- Trio Petroleum Corp. (NYSE American: TPET) (“Trio”), an oil and gas exploration and development company focused on strategic, high growth energy projects in California, today announced the signing of an Acquisition Agreement dated May 11, 2023 (the “Agreement”) to potentially acquire up to 100% of the working interest in the Union Avenue Field (“Union Avenue”) located in Bakersfield, California. The Agreement is between Trio Petroleum Corp. and Trio Petroleum LLC, on behalf of itself as Operator and holding a 20% working interest in Union Avenue as well as to facilitate the remaining 80% working interest holders (“Sellers”). As Trio Petroleum LLC is partly owned and controlled by members of Trio’s management, this would be a related party transaction, and a special committee of Trio’s board of directors (the “Trio Special Committee”) has been formed to evaluate and negotiate the terms of this acquisition. Trio has engaged KLS Petroleum Consulting LLC, an independent engineering firm, to conduct a comprehensive analysis and valuation of the asset, which analysis has been delivered to the Company and is being evaluated by the Trio Special Committee. Union Avenue is a mature field that has produced an approximate cumulative 2.3 million barrels of oil and 1.2 billion cubic feet of gas, with significant remaining long-term, oil-production potential, including from a recent, partly-developed, new-pool discovery. Acquisition of Union Avenue could help Trio to become cash flow positive. If final terms are agreed between Trio and the Sellers, the transaction is expected to close within 60 days. Consideration for the acquisition is expected to be paid by Trio through a combination of cash and Trio’s common st.ock. Mr. Frank Ingriselli, Trio’s Chief Executive Officer, commented, “Trio is in an optimal position to capitalize on the acquisition of this producing oil asset, thereby capturing what we believe to be economically valuable for our shareholders. As we continue to develop our South Salinas Project and expand our portfolio, we are confident that our strategic growth initiatives will drive sustainable success and deliver economic returns. We remain committed to leveraging our expertise, resources, and market insights to maximize synergies and unlock the full potential of our acquisitions, solidifying our position as a leader in the industry.” ... [Read the full article here.]( ----- No. 4 TPET Potential Breakout Catalyst - Added Company Exposure In 2023 From Listing To NYSE American Exchange Trio Petroleum Corp Announces Pricing of Initial Public Offering and Listing on NYSE American DANVILLE, CA, April 17, 2023 (GLOBE NEWSWIRE) -- Trio Petroleum Corp (“Trio”), an oil and gas exploration and development company focused on strategic, high growth energy projects in California, today announced the pricing of its initial public offering of 2Mn shares of its common st.ock at a price to the public of $3.00 per share. Gross proceeds before deducting underwriting discounts and commissions and other offering expenses are expected to be $6Mn. In addition, the underwriters have been granted a 45-day option to purchase up to 300k additional shares of Common St.ock to cover over-allotments. The common st.ock is expected to begin trading on The New York St.ock Exchange American (“NYSE American”) under the symbol “TPET” on April 18, 2023, and the offering is expected to close on April 20, 2023, subject to the satisfaction of customary closing conditions. Spartan Capital Securities, LLC is acting as the sole book-running manager for the offering. McDermott Will & Emery is acting as counsel to Trio Petroleum Corp and Anthony L.G., PLLC is acting as counsel to Spartan Capital Securities, LLC. Trio intends to use the net proceeds from this offering to fund the drilling of wells, repayment of debt, and for working capital and general corporate purposes. ... [Read the full article here.]( ----- TPET Recap - The Top Potential Breakout Catalysts To Know This Moment No. 1 - Strong Volatility Potential Could Be Significant Based On TPET's Low Float No. 2 - Major News Announcement: Company Confirms Oil And Gas Accumulation No. 3 - Signing Key Acquisition Agreement Could Lead To TPET Becoming Cash Flow Positive No. 4 - Added Company Exposure In 2023 From Listing To NYSE American Exchange ----- Coverage is officially initiated on TPET. When time allows, do this: Get TPET on your radar right now. Sincerely, FierceAnalyst | Jaks Swift Editorial Writer Source 1: Reserves attributable to Trio Petroleum Corp., South Salinas area, Effective Date November 1, 2021, KLKS Petroleum Consulting LLC, Kenneth L. Schuessler, P.E., Managing Member  (Always Remember The St-ock Prices Could Be Significantly Lower Now From The Dates I Provided.) FierceInvestor (FierceInvestor . com) is owned by SWN Media LLC, a limited liability company. 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