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Trio Petroleum Corp. ( (TPET) ) has issued an announcement.
On December 30, 2025, Trio Petroleum Corp.’s wholly owned subsidiary Trio Petroleum Canada Corp. closed an asset purchase with NovaCor Exploration Ltd. to acquire heavy oil assets in the Lloydminster/Maidstone region of west‑central Saskatchewan for C$1 million, paid in 912,875 restricted common shares. The deal, announced on January 5, 2026, brings in four wells—three currently producing roughly 30 barrels per day in aggregate and a fourth expected to add around 20 barrels per day when brought back onstream—along with a produced‑water disposal facility, associated equipment and infrastructure, and working interests and mineral rights that expand Trio’s footprint across the north half of Section 3‑48‑24W3. Trio plans to pursue optimization, recompletions and potential multilateral and horizontal drilling in the Mannville Group intervals, positioning the Saskatchewan assets as a cash‑flow‑positive production base with additional upside, while the acquired disposal facility is intended to operate as a fee‑for‑service business that could generate recurring third‑party revenue and enhance the company’s cash flow profile.
More about Trio Petroleum Corp.
Trio Petroleum Corp. is an oil and gas exploration and development company with operations in California, Saskatchewan, Alberta and Utah, focused on acquiring and optimizing producing assets and associated infrastructure across North American hydrocarbon plays.
Average Trading Volume: 410,813
Technical Sentiment Signal: Sell
Current Market Cap: $6.91M
Find detailed analytics on TPET stock on TipRanks’ Stock Analysis page.