Trio Petroleum

South Salinas Project

Trio Petroleum is developing the California-based South Salinas Project.

Surrounded By
Major Production

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

  • Drilled Wells: Over 240K
  • Active Wells: 41K
  • Operators: 2581

Reserve and resource estimates provided are for wells and fields in the region near Trio Petroleum’s assets. These are provided for information purposes and are not indicative of potential results on assets owned by Trio Petroleum. Estimates are provided per sources below which may or may not conform to recognized industry standard reporting.

1. www.shalexp.com/california

2. www.eia.gov/dnav/pet

3.www.aeraenergy.com/operations/san-ardo/

4.www.epa.gov/sites/production/files/2019-06/documents/midway_sunset_oil_field-kern_san_luis_obispo-ae_rod-2019-03-30.pdf

5. crc.com/our-business/where-we-operate/san-joaquin-basin/elk-hills-field

6.www.epa.gov/sites/production/files/2021-03/documents/epa_letter-rod-calgem-aquifer-exemption-temblor- formation-coalinga-jacalitos-oil-fields-2021-03.pdf

Project Reserves & Cash Flow

  • We believe the South Salinas Project has the potential to be significant, with an estimated 40 million barrels of oil (“MMBO”) plus 42 billion cubic feet of gas (“BCFG”), or 47 million barrels of oil equivalent (“BOE”), in Probable (P2) Undeveloped reserves and an approximate 101 MMBO plus 169 BCFG, or 129 million BOE, in Possible (P3) Undeveloped reserves. Note that the conversion rate used is 6.0 Mcf per 1 BOE.
  • Trio’s Total Probable (P2) undiscounted net cash flow is an estimated approximate $2.1 billion, and Trio’s Total Possible (P3) undiscounted net cash flow is an estimated approximate $7.9 billion

Source: Reserves Attributable to Trio Petroleum Corp. South Salinas Area for Phased and Full Development, Effective Date April 30, 2024, KLS Petroleum Consulting LLC, Kenneth L. Schuessler, P.E., Managing Member

South Salinas Project, Monterey County, California

  • Location: Monterey County, California
  • Leasehold: Trio’s extensive leasehold is approximately 9,300 mineral acres and 100% private property
  • Working Interest: 85.75%
  • Royalties: 20% average total royalty burden
  • Seismic Data: 30 sq. mi. of 2D & 3D data
  • Oil Gravity: Mid-to-high (18-40 API)
  • Oil Reserves Depth: 4,000’-8,000’
  • Well Pads: 6 existing well pads and 2 additional well pads to be constructed
  • Production: BM 2-2 well 190 bopd, 6,000 barrels oil cumulative and HV-3A well up to 150 bopd

Well Pads

The Project includes 6 expansive well pads that simplify permitting by minimizing the need for additional surface disturbance.

Humpback Area: 4 large well padsas shown below

Presidents Area: 2 large well pads as shown below

HV-1 well pad, prior to drilling 

HV-3A well pad of discovery well at Presidents Oilfield

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

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Trio Petroleum, get in touch!