Latest news with #TrioPetroleumCorp
Yahoo
25-05-2025
- Business
- Yahoo
Trio Petroleum Halts McCool Ranch Operations
Trio Petroleum Corp. (NYSE:TPET) declared that it will terminate efforts to purchase a working interest in the field and halt operations at its McCool Ranch project in California. A close-up shot of a large pipeline pumping crude oil and pipe valves in a petroleum trust. The decision is based on prohibitive economics under previously negotiated parameters, including high water disposal expenses, especially in California, and low natural gas prices. Trio Petroleum Corp. (NYSE:TPET) is reallocating resources to more prospective places after determining that cyclic steam operations at the facility would not be sustainable in the long run. California-based Trio Petroleum Corp. (NYSE:TPET) explores for oil and gas in Utah, Saskatchewan, and California. The cost of the McCool Ranch project was hampered by California's high water disposal costs and expensive gas prices, which made improved oil extraction techniques like cyclic steaming less viable. The goal of the strategic change is to boost profitability by concentrating on assets in the company's current portfolio that have better production and cost circumstances. While we acknowledge the potential of TPET to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than TPET and that has 100x upside potential, check out our report about this READ NEXT: and . Disclosure. None.
Business Upturn
23-05-2025
- Business
- Business Upturn
Trio to suspend operations at McCool Ranch
California, May 23, 2025 (GLOBE NEWSWIRE) — Trio Petroleum Corp (NYSE American: TPET) ('Trio' or the 'Company'), a California-based oil and gas company, has decided to suspend operations at McCool Ranch and will terminate its efforts to acquire a working interest in the project. We have made this determination, because, under previously negotiated terms, natural gas prices and water disposal costs, particularly in California, where McCool Ranch is located, makes it cost prohibitive for the Company to employ cyclic-steam operations to increase production and will not be economically feasible in the long run. The Company has decided to focus its efforts on other sites which it believes will be more economically feasible, and hopefully generate greater profits for the Company. About Trio Petroleum Corp Trio Petroleum Corp is an oil and gas exploration and development company in California, Saskatchewan and Utah. Cautionary Statement Regarding Forward-Looking Statements All statements in this press release of Trio Petroleum Corp ('Trio') and its representatives and partners that are not based on historical fact are 'forward-looking statements' within the meaning of the Private Securities Litigation Reform Act of 1995 and the provisions of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended (the 'Acts'). In particular, when used in the preceding discussion, the words 'estimates,' 'believes,' 'hopes,' 'expects,' 'intends,' 'on-track', 'plans,' 'anticipates,' or 'may,' and similar conditional expressions are intended to identify forward-looking statements within the meaning of the Acts and are subject to the safe harbor created by the Acts. Any statements made in this news release other than those of historical fact, about an action, event or development, are forward-looking statements. While management has based any forward-looking statements contained herein on its current expectations, the information on which such expectations were based may change. These forward-looking statements rely on a number of assumptions concerning future events and are subject to a number of risks, uncertainties, and other factors, many of which are outside of the Trio's control, that could cause actual results to materially and adversely differ from such statements. Such risks, uncertainties, and other factors include, but are not necessarily limited to, those set forth in the Risk Factors sections of the Trio reports filed with the Securities and Exchange Commission (SEC). Copies of such documents are available on the SEC's website, Trio undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law. Investor Relations Contact: Redwood Empire Financial CommunicationsMichael Bayes(404) 809 4172 [email protected]
Yahoo
23-05-2025
- Business
- Yahoo
Trio to suspend operations at McCool Ranch
California, May 23, 2025 (GLOBE NEWSWIRE) -- Trio Petroleum Corp (NYSE American: TPET) ('Trio' or the 'Company'), a California-based oil and gas company, has decided to suspend operations at McCool Ranch and will terminate its efforts to acquire a working interest in the project. We have made this determination, because, under previously negotiated terms, natural gas prices and water disposal costs, particularly in California, where McCool Ranch is located, makes it cost prohibitive for the Company to employ cyclic-steam operations to increase production and will not be economically feasible in the long run. The Company has decided to focus its efforts on other sites which it believes will be more economically feasible, and hopefully generate greater profits for the Company. About Trio Petroleum Corp Trio Petroleum Corp is an oil and gas exploration and development company in California, Saskatchewan and Utah. Cautionary Statement Regarding Forward-Looking Statements All statements in this press release of Trio Petroleum Corp ('Trio') and its representatives and partners that are not based on historical fact are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 and the provisions of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended (the 'Acts'). In particular, when used in the preceding discussion, the words "estimates," "believes," "hopes," "expects," "intends," 'on-track', "plans," "anticipates," or "may," and similar conditional expressions are intended to identify forward-looking statements within the meaning of the Acts and are subject to the safe harbor created by the Acts. Any statements made in this news release other than those of historical fact, about an action, event or development, are forward-looking statements. While management has based any forward-looking statements contained herein on its current expectations, the information on which such expectations were based may change. These forward-looking statements rely on a number of assumptions concerning future events and are subject to a number of risks, uncertainties, and other factors, many of which are outside of the Trio's control, that could cause actual results to materially and adversely differ from such statements. Such risks, uncertainties, and other factors include, but are not necessarily limited to, those set forth in the Risk Factors sections of the Trio reports filed with the Securities and Exchange Commission (SEC). Copies of such documents are available on the SEC's website, Trio undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law. Investor Relations Contact: Redwood Empire Financial Communications Michael Bayes (404) 809 4172 michael@ in to access your portfolio
Yahoo
16-04-2025
- Business
- Yahoo
Why Trio Petroleum Corp. (TPET) Is Losing This Week
We recently published a list of Energy Stocks that are Losing This Week. In this article, we are going to take a look at where Trio Petroleum Corp. (NYSEAMERICAN:TPET) stands against other energy stocks that are crashing this week. After an encouraging start to the year, the energy industry is now trailing just behind the general market. As of the writing of this piece, the overall energy sector has fallen by 8.31% since the beginning of 2025, against a decline of 8.04% by the wider market. The oil and gas industry has been hit particularly hard, sliding by 20.76% since the beginning of the year. The major reason behind this fall is the decline in the global prices of oil, which have plunged by a little over 15% since the beginning of 2025. The prospects of an economic slowdown following a global tariff war, coupled with the recent decision by OPEC+ to increase supply in May, have weighed down the global crude price. Moreover, the US Energy Information Administration (EIA) revealed in its latest report that it now projects global oil consumption to increase by 900,000 b/d in 2025 and 1 million b/d in 2026, down by 400,000 b/d and 100,000 b/d, respectively, from its initial forecast in March. The EIA has also forecasted the WTI price to average $63.88 per barrel this year before dropping to an average of $57.48 in 2026. The sharp decline in prices and the expected slowdown in demand growth have taken a toll on oil stocks and shaken investor confidence. A wide shot of oil rigs on a field, with the sun setting in the background. To collect data for this article, we have referred to several stock screeners to find energy stocks that have fallen the most between April 8 to April 15, 2025. The following are the Energy Stocks that Lost the Most This Week. The stocks are ranked according to their share price decline during this period. At Insider Monkey, we are obsessed with the stocks that hedge funds pile into. The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter's strategy selects 14 small-cap and large-cap stocks every quarter and has returned 373.4% since May 2014, beating its benchmark by 218 percentage points (). Share Price Decline Between Apr. 8 and Apr. 15: 11.94% Trio Petroleum Corp. (NYSEAMERICAN:TPET) is an oil and gas exploration, development, and production company headquartered in Bakersfield, California. The share price of Trio Petroleum Corp. (NYSEAMERICAN:TPET) slightly surged last week after the company announced that it had closed on certain petroleum and natural gas properties held by Novacor Exploration Ltd. in the prolific Saskatchewan heavy oil region. But the stock has fallen since then, probably as a result of the headwinds faced by the oil sector due to a projected decline in demand growth and falling crude prices. Overall, TPET ranks 5th on our list of the energy stocks that lost the most this week. While we acknowledge the potential of energy companies, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns, and doing so within a shorter time frame. There is an AI stock that went up since the beginning of 2025, while popular AI stocks lost around 25%. If you are looking for an AI stock that is more promising than TPET but that trades at less than 5 times its earnings, check out our report about this cheapest AI stock. READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires. Disclosure: None. This article is originally published at Insider Monkey. Sign in to access your portfolio
