Trio Petroleum Corp Provides Update on Acquisition Strategy and Ongoing Operations
Trio Petroleum reports holding $22 million in cash with no long-term debt and has submitted 12 non-binding proposals for acquisitions averaging 550 BOE/d, though no definitive agreements are yet in place. Current operational production is approximately 78.7 BOPD, with management identifying optimization and restart initiatives across Alberta and Saskatchewan assets that could increase output to roughly 132.7 BOPD.
Key figures
- Atm proceeds
- 1700000
- Proposals submitted
- 12
- Cash and equivalents
- 22000000
- Target production bopd
- 132.7
- Current production bopd
- 78.7
- Valuation per flowing boe
- 25000
- Disposal facility capacity
- 1,000 cubic metres per day
- Potential disposal revenue
- 90000
- Avg target production boe d
- 550
- Potential skim oil recovery bopd
- 38
- Potential combined production bopd
- 170.7
AI analysis
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