Company: TPET
Filing Date: 2025-02-28
Form Type: S-1/A
Source: 0001493152-25-008715
Chunk: 64

Company: Trio Petroleum Corp.
Filing Date: 2025-02-28
Form: S-1/A
Chunk 64
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 |    |     |          | 100.0 | % |     | $          | 2,000,000 |    |     |          | 100.0 | % |

| (1) | This                                                                                                                          
 includes principal and accrued and unpaid interest through February 24, 2025. Any additional accrued and unpaid interest from 
 February 24, 2025, until the date of repayment will increase the amount payable and will correspondingly reduce the amount    
 of the net proceeds allocated for general corporate and working capital purposes.                                             |
| (2) | The                                                                                                                           
 Company’s right to exercise the remaining 17.75% of working interests relating to this option, for a total working interest   
 of 20%, expires on April 10, 2025.                                                                                            |

We believe that the net proceeds of this offering, if we raise $8 million in this offering, together with our existing cash, will enable us to fund our operations for at least six months following the completion of this offering. We have based this estimate on assumptions that may prove to be wrong, and we could use our available capital resources sooner than we expect. Additionally, the amount actually raised could reduce the period for which we have sufficient cash to fund our operations, without having to raise additional capital. If we raise $8 million in this offering, it is our intent to use $120,175 of the net proceeds received in the offering, or approximately 1.7% of the net proceeds, to repay outstanding indebtedness. If we raise $4 million in this offering, it is our intent to use $120,175 of the net proceeds received in the offering, or approximately 3.7% of the net proceeds, to repay outstanding indebtedness. If we raise $2.0 million in this offering, it is our intent to use $120,175 of the net proceeds received in the offering, or approximately 8.7% of the net proceeds, to repay outstanding indebtedness.

Although we currently anticipate that we will use the net proceeds from this offering as described above, there may be circumstances where a reallocation of funds is necessary. The amounts and timing of our actual expenditures will depend upon numerous factors, including permits, and the accessibility of rigs and other equipment, our operating costs and the other factors described under “ Risk Factors” in this prospectus. Accordingly, our management will have flexibility in applying the net proceeds from this offering. An investor will not have the opportunity to evaluate the economic, financial or