Trio PetroleumTPET
TPET
About: Trio Petroleum Corp. is an oil and gas exploration and development company. The Company has operations in Monterey County, California, and Uintah County, Utah. The Company has an 85.75% working interest in the South Salinas Project, and a mineral-leasehold of approximately 9,300 gross mineral acres in one largely contiguous land package. There are six existing idle wells and one active well (the HV-1 well) in the South Salinas Project. Trio LLC is a licensed operator in California and operates the South Salinas Project and the McCool Ranch Oil Field on behalf of the Company.
Employees: 1
0
Funds holding %
of 6,831 funds
–
Analysts bullish %
Fund manager confidence
Based on 2024 Q3 regulatory filings by fund managers ($100M+ AUM)
0.74% less ownership
Funds ownership: 1.59% [Q2] → 0.85% (-0.74%) [Q3]
13% less funds holding
Funds holding: 8 [Q2] → 7 (-1) [Q3]
33% less first-time investments, than exits
New positions opened: 2 | Existing positions closed: 3
50% less repeat investments, than reductions
Existing positions increased: 1 | Existing positions reduced: 2
68% less capital invested
Capital invested by funds: $243K [Q2] → $78.2K (-$165K) [Q3]
Research analyst outlook
We haven’t received any recent analyst ratings for TPET.
Financial journalist opinion
Neutral
GlobeNewsWire
2 weeks ago
Company retires remaining Outstanding Convertible Investments
Bakersfield, CA, Jan. 16, 2025 (GLOBE NEWSWIRE) -- Trio Petroleum Corp (NYSE American: “TPET”, “Trio” or the “Company”), a California-based oil and gas company, announced that as of January 7,2025, the Company had fully repaid senior secured convertible promissory notes with an aggregate principal of $1.6 million (the “Notes”). The Notes were issued in connection with two separate financings funded by two institutional investors (the “Investors”) in in April 2024 and June of 2024.
Neutral
GlobeNewsWire
2 months ago
Trio Provides Operational Update on McCool Ranch
Company Details Plans to Increase Production and Cash Flow Bakersfield, CA, Dec. 04, 2024 (GLOBE NEWSWIRE) -- Trio Petroleum Corp (NYSE American: TPET) (“Trio” or the “Company”), a California-based oil and gas company, today provided an update on operational activities the Company is taking to increase oil production and cash flow at the McCool Ranch Oilfield in Monterey County, California. Oil production has been stable for a number of months at about 10 to 20 BOPD from the HH-1 and 35X wells collectively and we are actively looking into the best course of action to increase oil production and cash flow while containing costs, including resuming cyclic-steam operations at these two wells, and also by restarting production from three additional wells - the 58X, HH-3 and HH-4.
Neutral
GlobeNewsWire
2 months ago
Asphalt Ridge Option Period to Acquire Remaining 17.75% Working Interest Extended to February 10, 2025
Bakersfield, CA, Nov. 26, 2024 (GLOBE NEWSWIRE) -- Trio Petroleum Corp (NYSE American: “TPET”, “Trio” or the “Company”), a California-based oil and gas company, today provided updates on its Asphalt Ridge Project in Uintah County, Utah.
Neutral
GlobeNewsWire
3 months ago
Spartan Capital Securities Successfully Completes Multiple Key Transactions in October 2024
NEW YORK, Nov. 01, 2024 (GLOBE NEWSWIRE) -- Spartan Capital Securities, LLC, a full-service investment banking firm, is proud to announce its successful completion of several notable transactions throughout October 2024. The deals demonstrate Spartan's expertise and unwavering commitment to supporting clients' growth and capital needs across diverse sectors.
Neutral
GlobeNewsWire
3 months ago
Trio Provides Operational Update
Company Details Plans to Increase Production Bakersfield, CA, Oct. 15, 2024 (GLOBE NEWSWIRE) -- Trio Petroleum Corp (NYSE American: TPET) (“Trio” or the “Company”), a California-based oil and gas company, today provided an operational update on each of its current oil and gas assets, by field. The update details the specific operational activities the Company is taking to increase daily oil and gas production.
Neutral
GlobeNewsWire
3 months ago
Asphalt Ridge Option Period to Acquire Remaining 17.75% Working Interest Extended to December 10, 2024
Bakersfield, CA, Oct. 10, 2024 (GLOBE NEWSWIRE) -- Trio Petroleum Corp (NYSE American: “TPET”, “Trio” or the “Company”), a California-based oil and gas company, today provided updates on its Asphalt Ridge Project in Uintah County, Utah.
Neutral
GlobeNewsWire
4 months ago
First Oil Production Confirmed at Asphalt Ridge's Well HSO 2-4
Bakersfield, CA, Sept. 12, 2024 (GLOBE NEWSWIRE) -- Trio Petroleum Corp (NYSE American: “TPET”, “Trio” or the “Company”), a California-based oil and gas company, is pleased to announce oil production, using a downhole heater, from its first well HSO 2-4 on its Asphalt Ridge Project in Uintah County, Utah. This confirms that the pay zone bitumen, when heated, becomes less viscous and is able to drain into the wellbore and be pumped to the surface.
Neutral
GlobeNewsWire
5 months ago
Trio Reports Notable Increases in Estimated Oil and Gas Reserves
Discounted Net Cash Flow (at 10%) increase of $67 Million to $475 Million Based on Updated Operations Bakersfield, CA, Sept. 03, 2024 (GLOBE NEWSWIRE) -- Trio Petroleum Corp (NYSE American: TPET) (“Trio” or the “Company”), a California-based oil and gas company, today provided an update on estimates of oil and gas reserves and future net cash flows at its South Salinas Project in Monterey County, California.
Neutral
GlobeNewsWire
6 months ago
Company Appoints New Chief Executive Officer
Co-Founder and Chairman Robin Ross Accepts Expanded Role Bakersfield, CA, July 15, 2024 (GLOBE NEWSWIRE) -- Trio Petroleum Corp (NYSE American: “TPET”, “Trio” or the “Company”), a California-based oil and gas company, today announced that it has appointed Robin Ross as its new Chief Executive Officer, effective July 11, 2024. Mr. Ross recently rejoined the Company as the Chairman of the Board.
Neutral
GlobeNewsWire
7 months ago
Company Announces First Revenue
Company Collects First Revenue Check for April Oil Sales at McCool Ranch Field HH-1 at McCool Ranch Producing Steadily at Approximately 30 BOPD Bakersfield, CA, July 01, 2024 (GLOBE NEWSWIRE) -- Trio Petroleum Corp (NYSE American: “TPET”, “Trio” or the “Company”), a California-based oil and gas company, today announced that it received its first revenue payment in June for its proportionate share of revenue from April oil sales at McCool Ranch Field in Monterey County, California. “We are now generating revenue and this is a positive milestone for our Company,” commented Michael Peterson, CEO of Trio.
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