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Trio Petroleum Corp. ( (TPET) ) just unveiled an update.
On May 15, 2025, Trio Petroleum Corp entered into a non-binding Letter of Intent to acquire 2,000 acres of land at P.R. Spring, Utah from Heavy Sweet Oil LLC. This acquisition aims to develop a significant tar-sand deposit, potentially transforming Trio’s operations by supporting up to 1,000 wells and producing 50,000 barrels a day. The project is expected to yield commercial-grade asphalt and diesel, with a low carbon footprint, enhancing Trio’s market positioning in the oil and gas industry.
More about Trio Petroleum Corp.
Trio Petroleum Corp is an oil and gas exploration and development company operating in California, Saskatchewan, and Utah.
Average Trading Volume: 189,992
Technical Sentiment Signal: Sell
Current Market Cap: $8.85M
For a thorough assessment of TPET stock, go to TipRanks’ Stock Analysis page.