Trio Petroleum Corp. announced on April 10, 2025, that it has closed on certain petroleum and natural gas properties held by Novacor Exploration Ltd., specifically Novacor's TWP48 Assets. These assets are located in the prolific Lloydminster, Saskatchewan heavy oil region.
The company expects to shortly follow with the closing on Novacor’s TWP47 assets, completing the full acquisition. The acquired properties currently include seven producing wells, yielding approximately 70 barrels of oil per day.
This acquisition strategically positions Trio Petroleum to expand its operations into one of North America’s promising heavy oil basins. The Novacor assets are cash flow positive and are situated in an area offering economic development, low operational costs, and a favorable regulatory process.
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