New Alberta heavy-oil wells to start pumping within 10 days
Trio Petroleum Corp. Provides Alberta Operations Update and Confirms Near-Term Production Commencement
Trio Petroleum Corp (NYSE American: TPET) announced that its wholly owned Canadian unit completed all Alberta Energy Regulator approvals and license transfers for a heavy-oil asset at NW 7-50-1W4 as of January 30, 2026. Surface lease agreements for initial producing wells are expected to be executed by week end.
The company plans to place two wells on production within 7 to 10 days, targeting combined initial production of ~30–40 barrels of oil per day, and to target two additional wells on production by March 31, 2026. Management frames the asset as Trio’s first producing foothold in Alberta with potential near-term upside through perforation of additional intervals.
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- AER approvals and license transfers completed on Jan 30, 2026
- Two wells targeted to start production within 7–10 days
- Initial production guidance of 30–40 barrels per day from two wells
- Two additional wells targeted by Mar 31, 2026
- Plan to perforate additional intervals to enhance production and recovery
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- Initial production is modest at 30–40 bbl/d, limiting near-term cash flow scale
- Start dates remain conditional on surface access, field execution and severe weather
- Near-term upside contingent on successful surface leases and operational sequencing
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
FAQ
When did Trio Petroleum (TPET) complete regulatory approvals for its Alberta asset?
Trio completed Alberta Energy Regulator approvals and license transfers on January 30, 2026. According to the company, that milestone allowed transition from acquisition to active field operations.
How soon will the initial Trio (TPET) wells begin producing in Alberta?
Trio expects to place two wells on production within 7 to 10 days, subject to routine field timing and weather. According to the company, surface leases are being finalized to clear access.
What production rates does Trio (TPET) expect from the first two Alberta wells?
Management anticipates the two wells will together produce about 30–40 barrels of oil per day as production is established. According to the company, this estimate is based on current plans and historical well performance.
Are there plans for additional wells or upside at Trio’s Alberta site (TPET)?
Yes; two additional wells on the same quarter section are targeted for production by March 31, 2026. According to the company, perforating additional intervals within existing wellbores is planned to boost rates and recovery.
What operational risks could delay Trio (TPET) starting Alberta production?
Start-up timing is subject to surface access, field execution sequencing and severe weather conditions. According to the company, surface lease execution and routine field timing remain prerequisites to commence production.