Trio Petroleum terminates McCool Ranch acquisition, suspends operations due to cost issues

Trio Petroleum Corp

On May 27, 2025, Trio and Trio LLC mutually terminated the McCool Ranch oil field acquisition agreement; no refund of prior payments.
Press release dated May 23 announces suspension of operations at McCool Ranch; cites unfavorable natural gas prices and water disposal costs in California.
Company will shift focus to other sites in California, Saskatchewan, and Utah that it believes are more economically feasible.
The McCool Agreement was originally signed Oct 2023 and amended Nov 2023; now terminated with no amounts refunded.

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