Trio Petroleum enters into LOI to acquire 2000 acres in P.R. Spring Utah

Trio Petroleum (TPET) announces it has entered into a Letter of Intent, LOI, to acquire 2000 acres at P.R. Spring, Unita Basin, Utah from Heavy Sweet Oil. According to a report provided by Dr. Douglas S. Hamilton, who holds Bachelor’s and Ph.D. degrees in Geology from the University of Sydney, Australia, P.R. Spring area contains an estimated 6.75 billion barrels of OOIP within its basin boundary limits. This information was ascertained through detailed mapping of bitumen outcrops by various authors*, analysis of historical core hole and petroleum exploration wells, and examination of laboratory-derived measurements of porosity and oil saturation from 100’s of cores.