Trio Petroleum Corp. (TPET) announced on January 5 2026 that its Canadian subsidiary has acquired four producing heavy‑oil wells and an associated produced‑water disposal facility in west‑central Saskatchewan. The wells, located in the Mannville Group, are currently producing approximately 30 barrels per day each, with a fourth well expected to produce about 20 barrels per day once returned to production, giving the company an immediate additional output of roughly 110 barrels per day.
The acquisition was completed for a purchase price of 1 million Canadian dollars, paid entirely in shares of Trio’s common stock. The transaction also includes the 4‑29 produced‑water disposal facility, which the company expects to generate up to $100,000 per month in third‑party disposal and skim‑oil recovery revenue.
By adding these assets, Trio expands its production base beyond its existing Canadian operations and creates a new recurring revenue stream from water‑disposal services. The deal aligns with the company’s strategy to strengthen cash flow and reduce reliance on its California operations, which have been unprofitable in recent years. The acquisition was announced today, making it a material event for TPET’s investors and market observers.
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