Trio Petroleum signs LOI to acquire producing heavy oil assets in Saskatchewan for CD$2M

Trio Petroleum Corp

Purchase price CD$2M (~US$1.4M): US$650K cash + Trio common shares; US$65K deposit paid.
Current production ~70 bpd from 7 wells; reserve report shows 91.5 MBBL proved+probable (Aug 2024).
Assets in Lloydminster, Saskatchewan heavy oil region; Novacor to operate; Trio plans to expand.
LOI non-binding, expires Feb 15, 2025; closing subject to board approval and financing.

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