TPET News & Events

Trio Petroleum announced that as of March 18, 2026, the Company had raised $19,017,527 in gross proceeds under its ATM program, resulting in net cash proceeds to Trio of $18,446,993, after payment of commissions. Commented Robin Ross, CEO, "This first quarter has been transformational for Trio as we successfully raised nearly $19 million through our ATM program. Management believes this capital provides a significant opportunity to accelerate our expansion plans in both Canada and the U.S., with a focus on acquiring larger, higher-impact oil and gas projects in the 500 to 1,000 barrels per day range, as well as advancing workover opportunities across our existing assets. While we expect oil prices to remain volatile, we continue to see an upward bias supported by global energy demand. Taken together, we believe that these factors place Trio on a strong trajectory for meaningful production and cash-flow growth."

Trio Petroleum, announced that as of February 13 ,2026, convertible promissory notes with an aggregate principal of $1.2M had been fully converted into shares of Trio common stock. The Notes were issued to three institutional investors in August 2025, in connection with a private placement of convertible debt financing. The shares of common stock issued to the Investors upon their conversions of the Notes were all registered for resale by the Company in a registration statement filed by the Company with the Securities and Exchange Commission on September 4. 2025, which was declared effective on September 11, 2025. The Notes have been retired.

Trio Petroleum provides an operational update on its Alberta heavy-oil asset located at NW 7-50-1W4, marking the Company's first producing foothold and strategic entry into the Province of Alberta. Trio confirms that, as of January 30, 2026, all required Alberta Energy Regulator approvals and license transfers associated with the property were completed. With regulatory approvals now in place, Trio Canada has transitioned the asset from acquisition and regulatory processing to active field operations. The Company expects to place the following two wells on production within 7 to 10 days, subject to routine field execution timing and severe weather: 100/11-7-50-1W4 and 103/12-7-50-1W4. Based on current operating plans and historical performance of the wells, management anticipates these two wells together will contribute approximately 30 to 40 barrels of oil per day as production is established.

Trio Petroleum has acquired certain Saskatchewan heavy oil assets from NovaCor Exploration. The Acquired Assets are located in west-central Saskatchewan and include producing heavy oil wells, associated equipment and infrastructure, and additional development and optimization opportunities. The acquired assets consist of four wells along with a water disposal facility. Three of the wells are currently producing approximately 30 barrels per day, with the fourth well expected to produce approximately 20 barrels per day when returned to production. The Acquired Assets target established heavy oil intervals within the Mannville Group, including Waseca, McLaren, Sparky, and GP. Trio believes the asset base offers a combination of existing production and actionable operational upside, with opportunities to enhance performance through disciplined field execution. The acquisition also includes the infrastructure and equipment the Company's management believes are necessary to support ongoing production and field operations. The assets consist of: 101/13-03-048-24W3/00 - 11 bbl/d; 121/04-05-049-24W3/03 - 8 bbl/d; 121/05-05-049-24W3/02 - 9 bbl/d; 121/06-05-049-24W3/02- non-producing expect 20 bbl/d; 131/04-29-051-26W3/00 - disposal facility. The stated purchase price is $1,000,000 CDN paid in by the Company's issuance of 912,875 shares of its common stock, in connection with which we have granted certain "piggyback" registration rights and an obligation by the Company to register the shares for resale, subject to certain limitations and restrictions, if the shares are not otherwise registered for resale in a registration statement, pursuant to such "piggyback" registration rights.