Undisclosed oil and gas exploration and production company focused on developing and producing oil and gas properties; in fiscal 2025 it reported $398,734 in revenue and a net loss of $7,282,133, reflecting continued exploration and financing activity.

# Undisclosed Company

The following reflects the Part I table of contents from the company’s Form 10‑K as provided.

Part I — Table of Contents
- PART I ITEM BUSINESS
- 1 1. ITEM RISK FACTORS. 16
- 1A. ITEM UNRESOLVED STAFF COMMENTS. 30
- 1B. ITEM CYBERSECURITY. 30
- 1C. ITEM PROPERTIES. 31
- 2. ITEM LEGAL PROCEEDINGS. 31
- 3. ITEM MINE SAFETY DISCLOSURES. 31
- 4. (incomplete)

Suggested summary structure
- Company overview
  - Primary business description
  - Core products and services
  - Key markets and customers
- Operations and scale
  - Geographic presence
  - Number of employees
  - Major facilities or properties (if disclosed)
- Financial snapshot
  - Revenue
  - Net income
  - Other relevant metrics disclosed in Item 1
- Additional context
  - Major customers or industries
  - Major business segments or subsidiaries

Trio Petroleum Corp (TPET) is an oil and gas exploration company based in California, focusing on developing petroleum assets primarily in California and Utah.

# Company Overview: Trio Petroleum Corp (TPET)

## Business Activities
Trio Petroleum Corp (TPET) is a California-based oil and gas exploration and development company. The company's primary activities include:

1. **Oil and Gas Exploration**: TPET focuses on exploring and developing petroleum assets, primarily in California, while also extending its interests to Utah. 

2. **Primary Assets**:
   - **South Salinas Project**: TPET holds an approximately 85.775% working interest in this major asset located in Monterey County, California. The South Salinas Project consists of an estimated 40.2 million barrels of oil (MMBO) and 42.4 billion cubic feet of gas (BCFG) in Probable reserves, along with additional Possible reserves.
   - **McCool Ranch Oil Field**: In October 2023, TPET acquired a 22% working interest in the McCool Ranch Oil Field, also in Monterey County, California.
   - **Asphalt Ridge Project**: TPET has acquired an option to purchase up to a 20% working interest in a recognized oil accumulation in northeastern Utah.

3. **Production Operations**: 
   - TPET restarted production at the McCool Ranch Oil Field on February 22, 2024, and generated revenues for the first time during the fiscal quarter ended April 30, 2024.

## Financial Performance
- **Revenue**: For the year-ended October 31, 2024, TPET generated net revenues of **$213,204**, compared to **$0** for the prior year.
- **Operating Loss**: The net loss reported for the year-ending October 31, 2024, was **$9,626,797**.
- **Accumulated Deficits**: As of October 31, 2024, TPET reported an accumulated deficit of **$20,073,679**.

## Operational Facts
- **Employees**: As of December 31, 2024, TPET had only **one employee** located in Canada.
- **Customers**: The number of customers is not specified, but TPET prioritizes oil and gas sales to identified markets within California and potentially broader markets as operations expand.

## Future Prospects
- TPET plans to explore additional assets both within California and Utah. The company is in the process of obtaining permits for expansion and full-field development, which could increase both production capacity and revenue generation in the future.

## Summary
- **Core Areas**: Oil and gas exploration and production.
- **Key Projects**: South Salinas Project, McCool Ranch Oil Field, and Asphalt Ridge Project.
- **Financial Snapshot**: $213,204 in revenue, $9.6 million in net losses, one core employee, significant exploration potential.

Trio Petroleum Corp

10-K / January 20, 2026

10-K / January 17, 2025

10-K / January 20, 2026

Undisclosed Company