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Trio Petroleum Corp.
As of May 30, 2026 at 24:05 UTC
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About Trio Petroleum Corp.
Trio Petroleum Corp is an oil and gas exploration and development company with operations in Monterey County, California, and Uintah County, Utah. The Company holds a working interest in the South Salinas Project and a mineral leasehold consisting of a largely contiguous land package. The South Salinas Project includes six existing idle wells and one active well (the HV-1 well). Trio LLC is a licensed operator in California and operates the South Salinas Project and the McCool Ranch Oil Field on behalf of the Company.
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Latest News
5 articlesTrio Petroleum Corp issued an action notice to brokerage firms and custodians on May 20, 2026, requesting their assistance in processing voting instructions from beneficial shareholders ahead of the company's Annual Meeting scheduled for May 21, 2026. The company emphasized the importance of establishing quorum, as shares held in street name cannot be counted toward quorum without proper voting instruction submission. Management highlighted that matters presented at the meeting provide important flexibility for the company's next growth phase.
Trio Petroleum Corp announced it has raised approximately $24 million through its ATM equity program, strengthening its balance sheet. The company is now pursuing a growth strategy focused on acquiring Canadian oil and gas assets, which management believes offer attractive valuations and operational upside. The CEO emphasized the company has transitioned from stabilization to execution phase and is urging stockholder support at the May 21, 2026 annual meeting.
Marathon Petroleum (MPC) shares surged 3.96% on Wednesday following a quarterly dividend declaration of $1 per share and broad energy sector gains. The rally was fueled by reports of Trump administration officials meeting with oil and gas executives and discussions about sustaining an Iran blockade. The stock is trading near its 52-week highs with strong momentum and bullish analyst sentiment.
Trio Petroleum (TPET) shares declined 15.38% to $0.86 on Monday following President Trump's announcement of a five-day suspension of U.S. strikes on Iranian energy infrastructure. Despite this headwind, the company raised $19M through its ATM program with net proceeds of $18.45M, positioning it to accelerate expansion plans in Canada and the U.S. targeting oil and gas projects producing 500-1,000 barrels per day.
Trio Petroleum (TPET) and Battalion Oil (BATL) surged in after-hours trading, gaining 13.51% and 10.44% respectively, driven by escalating U.S.-Israel-Iran conflict and concerns over disruptions to the Strait of Hormuz. Battalion also announced an all-stock acquisition of 7,090 net acres in Texas and a $15 million private placement.