Investment Highlights
We're building on our history of oil discovery and production by advancing the South Salinas Project in California.
Exceptional Team
Proven history of raising capital, building companies, generating prospects, drilling wells, and economically producing discovered oil
Growing Demand
California imports 70% of the oil it needs, with foreign sources supplying almost 60%, up from 15% just 20 years ago¹
Strategic Region
Surrounded by California’s prolific world class oil producing basins and fields & close to multiple refineries
Seismic Data
30 square miles of modern 3D seismic show the South Salinas Project’s oil and gas reserves are in structural traps in the Monterey Formation and in the Vaqueros Sand – this is not a resource play
South Salinas Project’s Significant Potential
P10 (High) estimates of Original Oil In Place (OOIP) and Original Gas In Place (OGIP) under Trio's current leasehold are 2.12 billion barrels of oil (BBO) and 1.18 trillion cubic feet of gas (Tcf), respectively² 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 equivalent²
Extensive Infrastructure
6 existing wells & 6 existing well pads
2 additional pads to be constructed in 2023
3 additional permitted oil & gas wells
Water disposal project under review at CalGEM
Conventional Drilling
Avoids the regulatory restrictions, environmental problems and high costs of fracking, steamflood or secondary recovery techniques
Near-Term Exploration & Development
Initial infrastructure work completed and Q1 2023 drilling development well HV-1
Upside Potential
Giant oil & gas reserves, not yet tested but partly behind-pipe, may occur beneath the Monterey Formation in the Vaqueros Sand
Sources:
1. https://www.shalexp.com/california
2. 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
