Will Provide Update on Operations and Testing of HV-1 Discovery Well
DANVILLE, CA, Sept. 27, 2023 (GLOBE NEWSWIRE) -- Trio Petroleum Corp (NYSE American: TPET) (“Trio” or the “Company”), a California-based oil and gas company, today announced its President, Frank Ingriselli and its Director, Michael L. Peterson, will be presenting at the LD Micro XVI Main Event investor conference on Tuesday, October 3rd at 3:00pm PT. The event will be held in-person at the Luxe Sunset Boulevard Hotel in Los Angeles and will be available to live stream virtually.
LD Micro Main Event – Trio Petroleum Corp Investor Presentation
Date: Tuesday, October 3, 2023
Time: 3:00pm Pacific Time
Live Webcast https://me23.sequireevents.com
The presentation will also be available for replay on Trio’s website for 30 days at:
https://ir.trio-petroleum.com/events-presentation/
Last week Trio provided an update on its HV-1 discovery well, noting that the Brown Zone (aka Brown Chert) in the HV-1 well was perforated on September 7 with 350 feet of perforations across a gross interval from 5,465 to 5,850 feet measured depth and then acidized for borehole clean-up. The well was then tested by swabbing for seven days during the September 8-18 timeframe. A pumping unit is now being installed at the HV-1 well for further testing of the Brown Zone and temporary tanks and other facilities are also being installed at the well site. Results of pumping will be announced when available.
The Brown Zone in the HV-1 well is mechanically isolated from the deeper Mid-Monterey Clay zone that we previously tested with results previously announced. Swab testing to-date suggests that the Brown Zone and the Mid-Monterey Clay collectively, if commingled, might deliver approximately 145 barrels of oil per day (BOPD), with potentially significantly higher oil production rates when the well is on pump.
About Trio Petroleum Corp
Trio Petroleum Corp is an oil and gas exploration and development company headquartered in Bakersfield, California, with operations in Monterey County, California. Trio has a large, approximately 9,267-acre asset called the “South Salinas Project” where it owns an 85.75% working interest. Trio’s near-term plans include testing and producing the HV-1 well, and then drilling the HV-2 and HV-4 wells. Previous operations on this asset have successfully drilled two (2) production/discovery wells (i.e., the HV-3A and BM 2-2 wells) that Trio now owns.
Cautionary Statement Regarding Forward-Looking Statements
All statements in this press release of Trio Petroleum Corp (“Trio”) and its representatives and partners that are not based on historical fact are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 and the provisions of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended (the “Acts”). In particular, when used in the preceding discussion, the words "estimates," "believes," "hopes," "expects," "intends," “on-track”, "plans," "anticipates," or "may," and similar conditional expressions are intended to identify forward-looking statements within the meaning of the Acts and are subject to the safe harbor created by the Acts. Any statements made in this news release other than those of historical fact, about an action, event or development, are forward-looking statements. While management has based any forward-looking statements contained herein on its current expectations, the information on which such expectations were based may change. These forward-looking statements rely on a number of assumptions concerning future events and are subject to a number of risks, uncertainties, and other factors, many of which are outside of the Trio's control, that could cause actual results to materially and adversely differ from such statements. Such risks, uncertainties, and other factors include, but are not necessarily limited to, those set forth in the Risk Factors section of the Trio’s S-1 filed with the Securities and Exchange Commission (SEC). Copies are of such documents are available on the SEC's website, www.sec.gov. Trio undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.
Investor Relations Contact:
Redwood Empire Financial Communications
Michael Bayes
(404) 809 4172
michael@redwoodefc.com
