Trio Petroleum acquires producing heavy oil assets in Saskatchewan for $650K cash + 526K shares

Trio Petroleum Corp

Purchase price: $650K cash (incl. $65K deposit) + 526,536 restricted TPET shares.
First closing on TWP48 assets completed Apr 8, 2025; second closing for TWP47 assets expected by June 30, 2025.
Seven producing wells ~70 bbl/d; lift cost CDN $10/bbl; reserve report: 91.5 MBBL proved+probable.
Trio Canada subsidiary formed; $1.131M promissory note at 12% interest to fund acquisition and operations.
Novacor to operate assets; Trio plans aggressive growth in Saskatchewan heavy oil region.

item 1.01 item 2.01 item 3.02 item 7.01 item 8.01 item 9.01

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Source: SEC EDGAR

accession 0001641172-25-003622

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