Trio Petroleum

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.

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Billion barrels of Original Oil in Place (OOIP)1
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Trillion cubic feet of Original Gas in Place (OGIP)1
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Working Interest in the large South Salinas Project

Company Overview

Trio Petroleum Corp. (“Corp”) is a California-based company that plans an IPO on the New York Stock Exchange in March, 2023

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

A confirmation well at Presidents Prospect will be drilled immediately after our IPO

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 CEO, Frank Ingriselli, is currently President of Indonesia Energy Corp. and was President of Texaco International: Trio Petroleum Corp will be 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

Timeline Of Key Events

Trio Petroleum has a rich history of generating prospects, drilling wells, and economically producing discovered oil.

1983
Stan Eschner leaves Oxy as its ‘Domestic and International VP and Chief Geologist’ after achieving involvement in the exploration & exploitation of ~50 O&G fields comprising 500 MMBO of recoverable oil & 2.5 TCF of gas.

Stan leaves Oxy and co-founds Trio Petroleum LLC
1984
Steve Rowlee (Trio Petroleum Corp. COO) joins Trio Petroleum LLC
2004
Trio commercially develops the Lynch Canyon Field in the South Salinas Basin with millions in Ultimate Recovery
2011
Trio makes exploration discovery at Hangman Hollow Field in South Salinas Basin with millions in Ultimate Recovery
2014
Trio acquires 30 square miles of proprietary 3D seismic data at our South Salinas Project (core asset)

Terry Eschner utilizes 3D seismic to remap Trio's Humpback Prospect and generate the Presidents Prospect
2018
Trio obtains approval to drill & test 4 exploration discovery wells on South Salinas Project.
2021
Consulting geophysicist Scott Haberman confirms & improves interpretations of South Salinas Project data.

Trio Petroleum Corp. formed to acquire WI in South Salinas Project & partner with Trio Petroleum LLC.
2022
Frank Ingriselli, former President of Texaco International & current President of NYSE American listed Indonesia Energy Corporation, joins Trio as CEO.

Gregory Overholtzer joins Trio as CFO

Prolific Region

The South Salinas Project is surrounded by California’s prolific world class oil producing basins and fields and is close to multiple refineries.

South Salinas Projects

San Joaquin Basin
8.6+ BBO Produced2
LA Basin
1.2 + BBO Produced2

South Salinas
Project

The South Salinas Project has P10 (High) estimates under Trio’s current leasehold of 2.12 billion barrels of oil (OOIP) and 1.18 trillion cubic feet of gas (OGIP).¹

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