TRIO PETROLEUM CORP Stock Price, News & Analysis

Trio Petroleum (NYSE American: TPET) announced that on Feb 13, 2026 convertible promissory notes with aggregate principal of $1.2 million were fully converted into common shares and the Notes have been retired.

The Notes were issued in Aug 2025 to three institutional investors; the related resale registration was declared effective on Sept 11, 2025. The company said it is bringing newly acquired Alberta assets online this week and reworking Saskatchewan wells acquired last summer.

Trio Petroleum Corp (NYSE American: TPET) announced that its wholly owned Canadian unit completed all Alberta Energy Regulator approvals and license transfers for a heavy-oil asset at NW 7-50-1W4 as of January 30, 2026. Surface lease agreements for initial producing wells are expected to be executed by week end.

The company plans to place two wells on production within 7 to 10 days, targeting combined initial production of ~30–40 barrels of oil per day, and to target two additional wells on production by March 31, 2026. Management frames the asset as Trio's first producing foothold in Alberta with potential near-term upside through perforation of additional intervals.

Trio Petroleum Corp (NYSE: TPET) acquired Saskatchewan heavy oil assets from NovaCor for $1,000,000 CDN paid via issuance of 912,875 common shares on Jan 5, 2026. The Acquired Assets include four wells (three producing ~30 bbl/d, one non-producing expected ~20 bbl/d on return) and a produced-water disposal facility.

The company cites mapped Mannville intervals (McLaren, Waseca, Sparky, GP), multilateral/horizontal opportunities across the north half of Section 3-48-24W3, and estimates the disposal facility could generate ~$100,000/month in combined revenue.

Trio Petroleum Corp (NYSE American: TPET) announced on November 4, 2025 that its Canadian subsidiary acquired a mineral lease (quarter section, 160 acres) at NW 7-50-1W4 in Alberta.

The purchase includes four fully equipped wells with current production the company estimates at 60–70 barrels per day, two wells to begin production after license transfers, and two wells currently held by the Orphan Well Association pending an AER license transfer. Total consideration: $150,000 CAD cash, $150,000 CAD restricted shares and $10,000 CAD to the Receiver.

Trio Petroleum (NYSE American: TPET) said its wholly owned Canadian subsidiary, Trio Petroleum Canada, received notice from the Alberta Energy Regulator on October 9, 2025 that it meets eligibility under Directive 067 to acquire and hold energy licences and approvals in Alberta.

Management said this eligibility is an initial regulatory clearance enabling the company to pursue identified energy assets in Alberta as part of its immediate expansion plans, while noting forward-looking statements remain subject to risks and uncertainties.

Trio Petroleum (NYSE American: TPET) provided an operational update across its three oil and gas assets. In Lloydminster, Saskatchewan, production has stabilized at 60-70 BOPD with potential for additional wells to add 70 barrels per day and multilateral drill opportunities capable of 200-300 bpd.

The South Salinas Project in California holds significant potential with estimated 47 million barrels of P2 reserves ($2.1B undiscounted net cash flow) and 129 million barrels of P3 reserves ($7.9B undiscounted net cash flow). In PR Spring, Utah, testing continues with downhole heaters, targeting one of North America's largest tar-sand deposits with potential for 50,000 barrels per day when fully developed.

The company also announced the resignation of Stan Eschner as Vice-Chairman, who will remain as consultant until year-end.

Trio Petroleum Corp (NYSE American: TPET) has announced the suspension of operations at McCool Ranch and the termination of efforts to acquire a working interest in the project. The decision was driven by unfavorable economic conditions, specifically high water disposal costs in California and natural gas prices that make cyclic-steam operations cost-prohibitive and economically unfeasible in the long term.

The company plans to redirect its focus to other sites that offer better economic potential and higher profit prospects. Trio Petroleum Corp maintains operations across California, Saskatchewan, and Utah.

Trio Petroleum Corp (NYSE: TPET) has completed the acquisition of cash flow positive oil and gas assets from Novacor Exploration in Saskatchewan's Lloydminster heavy oil region. The acquisition includes seven producing wells located in two properties, with production subject to Freehold Royalties of 13.5-15% and a GORR of 2%. The purchase price was US$650,000 in cash and 526,536 shares of Trio common stock. The assets feature low operational costs with a competitive lift cost of CDN $10.00 per barrel. Novacor will continue as operator and has the capability to rapidly double production. The strategic acquisition positions Trio alongside major industry players like Cenovus Energy and Canadian Natural Resources, with potential for expansion in this economically attractive region.

Trio Petroleum (NYSE: TPET) has entered into a Letter of Intent to acquire 2,000 acres at P.R. Spring, Unita Basin, Utah from Heavy Sweet Oil LLC. The P.R. Spring area contains an estimated 6.75 billion barrels of oil initially in place and is one of North America's largest tar-sand deposits outside Canada. The project could support up to 1,000 wells with potential production of 50,000 barrels per day over a 20-year life. Each well is expected to produce 300,000 barrels with stable production of 40 barrels per day, at a drilling cost under $800,000 per well. The acquisition terms include a $150,000 non-refundable payment, 1,492,272 restricted shares, and $850,000 in cash at closing. Trio will provide 100% of development capital and share 50% of net profits with HSO. The project will produce commercial grade asphalt (90%) and diesel range product (10%), both expected to sell at premium prices to WTI.