Trio Petroleum Raises $19 Million for Expansion Plans
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Mar 18 2026
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Should l Buy TPET?
Trio Petroleum Corp's stock surged by 11.76% in pre-market trading as it crossed above its 5-day SMA, reflecting strong investor interest.
The company successfully raised $19 million through its ATM program, providing essential funding for its expansion efforts in Canada and the U.S. CEO Robin Ross emphasized that this capital will enable Trio to acquire larger oil and gas projects, enhancing its market competitiveness. Despite the volatility in oil prices, management remains optimistic about future growth prospects, supported by an upward trend in global energy demand.
This fundraising marks a significant step for Trio Petroleum, positioning the company to capitalize on emerging opportunities in the oil and gas sector, which could lead to increased production and cash flow growth.
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Analyst Views on TPET
About TPET
Trio Petroleum Corp. is an oil and gas exploration and development company in California, Saskatchewan, Alberta and Utah. Its projects include South Salinas, Asphalt Ridge and McCool Ranch. In Monterey County, Trio owns an approximately 85.75% working interest in 9,300 acres at the Presidents and Humpback oilfields in the South Salinas Project, and an approximately 22% working interest in 800 acres in the McCool Ranch Field. It is developing the Asphalt Ridge project, one of the Heavy Oil and Tar Sand accumulations in North America. In the Asphalt Ridge project, the Company holds an approximately 2.25% working interest of 960 acres. Asphalt Ridge is a northwest-southeast trending topographic feature that crops-out along the northeast flank of the Uintah Basin. 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. It owns a mineral lease covering a quarter section located at NW 7-50-1W4 in Alberta.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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- Geopolitical Risks Intensify: Despite President Trump's claims of ongoing negotiations with Iran, Tehran has rejected proposals and is considering imposing transit fees on vessels, further tightening its grip on the Strait of Hormuz, which could lead to future supply chain instability.
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- Supply Risk Alerts: Barclays warns that a prolonged closure of the Strait of Hormuz could remove 13 to 14 million barrels per day from global supply, increasing market sensitivity to disruptions and suggesting that oil prices may rise further in the coming months.
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- Crude Price Retreat: Brent crude slipped below $100, while West Texas Intermediate traded near $97 after Trump signaled that the U.S. could exit the Iran conflict within two to three weeks, even as the Strait of Hormuz remains largely shut, keeping supply concerns prevalent in the market.
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Middle East Tensions Impact Oil Prices and Stocks
- High Fuel Prices: U.S. gasoline prices have reached $3.99 per gallon, with diesel at $5.25, indicating ongoing supply chain pressures from the Middle East that could reduce consumer spending and impact overall economic growth.
- Stock Market Volatility: Major oil stocks traded lower overnight, with Trio Petroleum and Battalion Oil declining approximately 5% and 3%, respectively, reflecting market reactions to uncertainties in the Middle East, which may affect investor confidence.
- Military Deployment Escalation: The USS Tripoli and the 31st Marine Expeditionary Unit have entered the region, with considerations to deploy up to 10,000 additional troops, indicating a potential increase in U.S. military presence in the Middle East that could further influence global oil prices and market sentiment.
- Shifting Market Sentiment: While there is optimism regarding the end of hostilities, analysts warn that the closure of the Strait of Hormuz still poses significant risks for further supply disruptions in global energy markets, affecting long-term investor decisions.
See More
Brent Oil Prices Surge Amid Middle East Conflict
- Oil Price Surge: Brent crude oil prices climbed to $116.75, a 3.7% increase, and are on track for a record monthly gain after a 60% rise in March, significantly enhancing profit expectations for oil companies.
- Geopolitical Risks Escalate: The market's concerns over global energy supply have intensified due to missile launches by Houthi militants towards Israel and Iran's restrictions on traffic through the Strait of Hormuz, potentially leading to further oil price increases that could impact global economic stability.
- U.S. Troop Deployment Impact: The U.S. has reportedly deployed thousands of additional troops to the region, raising the risk of ground operations, while plans to extract nearly 1,000 pounds of enriched uranium from Iran could keep U.S. forces inside the country for days, extending the conflict timeline and increasing market uncertainty.
- Investor Sentiment Shift: Despite strong performance in oil stocks amid rising prices, retail sentiment towards energy stocks is largely bearish, with BATL's stock surging 382% over the past year, indicating a divergence in market views on high-risk investments.
See More
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- Oil Price Surge: Brent crude prices are nearing $110 per barrel, with a cumulative increase of about 51% in March, primarily due to the near-closure of the Strait of Hormuz, which has severely disrupted global energy flows, driving up crude and refined product prices and indicating high market sensitivity to Middle Eastern tensions.
- Market Reactions: In premarket trading, Battalion Oil (BATL) rose over 10%, the United States Oil Fund (USO) gained about 2%, while Indonesia Energy (INDO) and EON Resources (EONR) slipped over 1%, reflecting investor concerns over potential escalation of conflict in the region.
- Geopolitical Risks: Trump extended the deadline for strikes on Iranian energy infrastructure by 10 days to April 6, which has reduced immediate escalation risks but has not increased expectations for a deal, indicating a cautious investor sentiment regarding future developments.
- Long-term Forecast: Macquarie estimates that the conflict could last until June, with oil prices potentially soaring to $200 per barrel if the Strait of Hormuz remains closed, highlighting the persistent risk premium in energy markets and the potential for significant declines in global oil demand.
See More
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Geopolitical Tensions: President Trump extended the deadline for potential strikes on Iran's energy infrastructure by 10 days, allowing more time for diplomatic efforts amid ongoing regional conflicts, including attacks on Iranian facilities by Israel.
Market Reactions: Major oil stocks and index funds traded mostly higher as crude prices increased, driven by traders' concerns over the potential for military action in the Middle East, which has kept oil markets on edge.
Future Projections: Analysts estimate a 60% probability that the conflict could conclude by the end of March, but there remains a 40% chance of a prolonged conflict lasting into June, which could drive oil prices up to $200 per barrel if the Strait of Hormuz remains closed.
See More
Oil Prices Set for Largest Monthly Gain Since 1990
- Oil Price Surge: Brent crude is nearing $105 per barrel and West Texas Intermediate is close to $93, driven by the near-total closure of the Strait of Hormuz, which has led to a significant reduction in global supply, setting the stage for the largest monthly gain since 1990, profoundly impacting the global energy market.
- Geopolitical Risks Intensify: Despite President Trump's claims of ongoing negotiations with Iran, Tehran has rejected proposals and is considering imposing transit fees on vessels, further tightening its grip on the Strait of Hormuz, which could lead to future supply chain instability.
- Positive Market Reaction: In premarket trading, Battalion Oil (BATL) rose about 8%, the United States Oil Fund (USO) gained roughly 3%, and both EON Resources (EONR) and Trio Petroleum (TPET) added around 3%, reflecting investor optimism regarding the rebound in oil prices.
- Supply Risk Alerts: Barclays warns that a prolonged closure of the Strait of Hormuz could remove 13 to 14 million barrels per day from global supply, increasing market sensitivity to disruptions and suggesting that oil prices may rise further in the coming months.
See More
