Building on our Team's 40-year history of Success & Production
Trio's HV-3A DISCOVERY WELL AT THE pRESIDENTS prospect in our core-asset South Salinas Project
Trio Petroleum
Trio Petroleum Corp. is a California-focused oil and gas exploration, development and production company headquartered in California, with operations in Monterey County.
We are continuing development of the large South Salinas Project.
The project’s P2 Probable + P3 Possible recoverable oil and gas reserves under Trio’s current leasehold are an estimated 131 million barrels of oil plus 189 billion cubic feet of gas, or 163 million barrels of oil equivalent.
Company Overview
Trio Petroleum Corp. (“Corp”) is a California-based company that had its IPO on the New York Stock Exchange on April 18, 2023 (NYSE-American, ticker symbol “TPET”)
Our core asset is the South Salinas Project (“SSP”) in Monterey County, CA, with an estimated 2.12 billion barrels of OOIP and 1.18 trillion cubic feet of OGIP under our leasehold (these are P10, “High”, estimates)
“Presidents” and “Humpback” are large prospects and each has a discovery well
Presidents Prospect and the giant Cat Canyon West Field (EUR 100 MMBO) are direct analogues with respect to size of structure, depth, oil gravity (~20° API gravity oil) and Monterey reservoir facies
Trio, immediately after its IPO, drilled the HV-1 confirmation/discovery well at the Presidents Oilfield, which currently (July-August, 2023) is being production tested, with initial test rates as high as 125 BOPD (see press releases regarding HV-1).
Our core asset and key members of our management team come through Trio Petroleum LLC, located in Bakersfield, CA, which since its formation in 1983 has been a well-respected Operator and exploration and production company
Our Vice Chairman, Frank Ingriselli, is currently President of Indonesia Energy Corp. and was President of Texaco International: Trio Petroleum Corp is Frank’s 4th energy-company IPO on the NYSE
Our Chairman, Stan Eschner, was Domestic & International VP at Oxy where he participated in the exploration and exploitation of ~ 50 oil and gas fields
We plan to acquire additional assets and to grow a profitable exploration and production company
Stan leaves Oxy and co-founds Trio Petroleum LLC
Terry Eschner utilizes 3D seismic to remap Trio’s Humpback Prospect and generate the Presidents Prospect
Trio makes O&G discovery at HV-3A well
Trio Petroleum Corp. formed to acquire WI in South Salinas Project & partner with Trio Petroleum LLC
Gregory Overholtzer joins Trio as CFO
Trio drills & completes Confirmation Discovery Well HV-1
Michael Peterson joins Trio as CEO
Frank Ingriselli becomes Vice Chairman
Sources:
1. Reserves Attributable to Trio Petroleum Corp., South Salinas Area, Effective Date November 1, 2021, KLS Petroleum Consulting LLC, Kenneth L. Schuessler, P.E., Managing Member
2. https://www.eia.gov/dnav/pet/PET_CRD_PRES_DCU_RCAL_A.htm
