Trio Petroleum Corp. announced on March 5, 2025, that it has secured extensions for two key strategic initiatives. The option period to acquire an additional 17.75% working interest in the Asphalt Ridge Project in Utah has been extended to April 10, 2025.
Concurrently, the non-binding Letter of Intent (LOI) to acquire a 100% working interest in certain petroleum and natural gas properties from Novacor Exploration Ltd. in Saskatchewan, Canada, has been extended to March 15, 2025.
These extensions allow Trio Petroleum additional time to finalize definitive acquisition documents for the Novacor assets and to exercise its option for the Asphalt Ridge interest. The Novacor acquisition is aimed at expanding operations into a prolific heavy oil region, while Asphalt Ridge represents a large heavy-oil and tar-sand deposit.
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