Trio approved by Alberta Energy Regulator to acquire and hold energy licences.

Rhea-AI Summary

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.

Positive

• AER eligibility confirmed on October 9, 2025
• Enables acquisition and holding of Alberta energy licences
• Clears regulatory step for planned Alberta expansion

Negative

• None.

Insights

Strategic Energy Regulator Analyst

Approval from the Alberta Energy Regulator clears Trio to acquire and hold energy licences, enabling planned Alberta expansion.

Trio received notice from the Alberta Energy Regulator (AER) that it meets eligibility under Directive 067, which allows its Canadian subsidiary to legally acquire and hold energy licences and approvals as of October 09, 2025.

This clears an administrative barrier and directly enables the company’s stated plan to pursue Alberta energy assets; the immediate business mechanism is regulatory eligibility rather than an acquisition or capital commitment.

Key dependencies and risks include obtaining specific licences, completing asset-level transactions, and satisfying any operational or financial conditions attached to future approvals; none of those steps are guaranteed by this notice.

Watch for concrete licence awards, announced asset purchases, and any described financial commitments in upcoming filings or releases; near-term updates on transaction terms or permit authorizations are the most relevant milestones.

Malibu, California, Oct. 09, 2025 (GLOBE NEWSWIRE) -- Trio Petroleum Corp (NYSE American: TPET) (“Trio” or the “Company”), a California oil and gas company, today is pleased to announce that its wholly owned Canadian Subsidiary Trio Petroleum Canada, Corp. has received notice from the Alberta Energy Regulator (AER) that Trio meets all eligibility requirements outlined under Directive 067: Eligibility Requirements for Acquiring and Holding Energy Licences and Approvals.

Commented Robin Ross CEO of Trio, " We have identified numerous energy assets in the province of Alberta and this is an essential first step in our immediate expansion plans for the area."

About Trio Petroleum Corp

Trio Petroleum Corp is an oil and gas exploration and development company in California, Saskatchewan and Utah.

Cautionary Statement Regarding Forward-Looking Statements

All statements in this press release of Trio Petroleum Corp (“Trio”) and its representatives and partners that are not based on historical fact are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 and the provisions of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended (the “Acts”). In particular, when used in the preceding discussion, the words "estimates," "believes," "hopes," "expects," "intends," “on-track”, "plans," "anticipates," or "may," and similar conditional expressions are intended to identify forward-looking statements within the meaning of the Acts and are subject to the safe harbor created by the Acts. Any statements made in this press release other than those of historical fact, about an action, event or development, are forward-looking statements. While management has based any forward-looking statements contained herein on its current expectations, the information on which such expectations were based may change. These forward-looking statements rely on a number of assumptions concerning future events and are subject to a number of risks, uncertainties, and other factors, many of which are outside of the Trio's control, that could cause actual results to materially and adversely differ from such statements. Such risks, uncertainties, and other factors include, but are not necessarily limited to, those set forth in the Risk Factors sections of the Trio reports filed with the Securities and Exchange Commission (SEC). Copies of such documents are available on the SEC's website, www.sec.gov. Trio undertakes no obligation to update these statements for revisions or changes after the date of this press release, except as required by law.

Investor Relations Contact:

Redwood Empire Financial Communications
Michael Bayes
(404) 809 4172
michael@redwoodefc.com

FAQ

What did Trio Petroleum (TPET) announce on October 9, 2025 about Alberta operations?

Trio announced its Canadian subsidiary received AER notice on October 9, 2025 confirming eligibility under Directive 067 to acquire and hold energy licences.

How does the AER Directive 067 eligibility affect TPET's ability to operate in Alberta?

Eligibility under Directive 067 allows Trio Petroleum Canada to legally acquire and hold energy licences and approvals necessary to pursue Alberta assets.

Will the AER notice immediately start TPET production in Alberta?

No. The notice confirms licence eligibility but does not itself authorize production; separate approvals and licence acquisitions are still required.

Does the AER eligibility change Trio Petroleum (TPET) financial guidance or results?

The announcement does not provide financial metrics or guidance; management describes eligibility as an enabling regulatory step for expansion.

Which Trio entity received the AER eligibility notice for TPET?

The notice was issued to Trio Petroleum Canada, the company's wholly owned Canadian subsidiary.

What are the next steps for TPET after receiving AER eligibility on October 9, 2025?

Next steps include identifying and acquiring eligible Alberta energy licences and pursuing required approvals to develop identified assets.