Malibu, California, Feb. 05, 2026 (GLOBE NEWSWIRE) -- Trio Petroleum Corp (NYSE American: TPET) ("Trio" or the "Company"), an oil and gas company, through its wholly owned Canadian subsidiary, Trio Petroleum Canada, Corp. ("Trio Canada"), is pleased to provide an operational update on its Alberta heavy-oil asset located at NW 7-50-1W4, marking the Company’s first producing foothold and strategic entry into the Province of Alberta.
Trio confirms that, as of January 30, 2026, all required Alberta Energy Regulator (“AER”) approvals and license transfers associated with the property were completed. With regulatory approvals now in place, Trio Canada has transitioned the asset from acquisition and regulatory processing to active field operations.
Operational activities are being conducted by Trio Canada, together with its Alberta operating partner. Surface lease agreements for the initial producing well locations are scheduled to be executed by the end of this week, clearing the final access requirements to commence production operations.
Initial Production and Operational Plan
The Company expects to place the following two wells on production within 7 to 10 days, subject to routine field execution timing and severe weather:
- 100/11-7-50-1W4
- 103/12-7-50-1W4
Based on current operating plans and historical performance of the wells, management anticipates these two wells together will contribute approximately 30 to 40 barrels of oil per day as production is established.
In addition to returning the wells to production, the Company intends to perforate additional approved producing intervals within the existing wellbores. These perforation operations are designed to access new zones that have not previously been produced, with the objective of enhancing production rates and improving long-term recovery, while maintaining a disciplined, low-capital operating approach.
Additional Wells and Near-Term Upside
Two additional wells located on the same quarter section:
- 100/13-7-50-1W4
- 100/14-7-50-1W4
remain within the Company’s near-term development plan. Subject to surface access and operational sequencing, Trio is targeting these wells to be placed on production by the March, 31 2026.
Upon integration of all four wells, the Company expects total field production to be consistent with the production expectations previously disclosed in connection with the original acquisition announcement dated November 4, 2025.
Strategic Significance
This Alberta asset represents Trio’s initial producing platform in one of North America’s most established heavy-oil regions. Management views the property as a stepping stone into Alberta, providing immediate production, existing infrastructure, and a repeatable framework for evaluating and executing additional opportunities in the province.
“This is an important execution milestone for Trio,” said Robin Ross, Chief Executive Officer of the Company. “With regulatory approvals completed and surface access being finalized, we are moving decisively into production. This asset represents our first producing foundation in Alberta, and we believe it demonstrates our ability to convert acquisitions into near-term production and cash flow while positioning the Company for continued growth in Western Canada.”
About Trio Petroleum Corp
Trio Petroleum Corp is an oil and gas exploration and development company with operations in California, Saskatchewan, Alberta, and Utah. The Company is focused on acquiring and developing high-quality producing assets that offer near-term cash flow and long-term growth potential.
Cautionary Statement Regarding Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include, but are not limited to, statements regarding anticipated timing of surface lease execution, commencement of production, expected production rates, perforation of additional zones, operational performance, and timing for integration of additional wells. These statements are based on management’s current expectations and assumptions and are subject to risks and uncertainties that could cause actual results to differ materially, including regulatory processes, surface access, operational execution, equipment performance, reservoir response, commodity prices, and other risks described in the Company’s filings with the U.S. Securities and Exchange Commission. Trio undertakes no obligation to update forward-looking statements except as required by law.
Investor Relations Contact
Redwood Empire Financial Communications
Michael Bayes (404) 809-4172 michael@redwoodefc.com
