Company: TPET
Filing Date: 2025-01-17
Form Type: 10-K
Source: 0001493152-25-002760
Chunk: 291

Company: Trio Petroleum Corp.
Filing Date: 2025-01-17
Form: 10-K
Item: Item 1
Chunk 291
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these and other laws and regulations, we could be liable for personal injuries, property damage and other types of damages. Failure to
comply with these laws and regulations also may result in the suspension or termination of our operations and subject us to administrative,
civil and criminal penalties. Moreover, these laws and regulations could change, or their interpretations could change, in ways that
could substantially increase our costs. These risks may be higher in developing countries in which we may at some point in the future
decide to conduct our operations, where there could be a lack of clarity or lack of consistency in the application of these laws and
regulations. Any resulting liabilities, penalties, suspensions or terminations could have a material adverse effect on our financial
condition and results of operations.

We
and our operations are subject to numerous environmental, health and safety regulations which may result in material liabilities and
costs.

We
and our operations are subject to various international, foreign, federal, state and local environmental, health and safety laws and
regulations governing, among other things, the emission and discharge of pollutants into the ground, air or water, the generation, storage,
handling, use and transportation of regulated materials and the health and safety of our employees. We are required to obtain environmental
permits from governmental authorities for our operations, including drilling permits for our wells. We have not been or may not be at
all times in complete compliance with these permits and the environmental laws and regulations to which we are subject, and there is
a risk that these laws and regulations could change in the future or become more stringent. If we violate or fail to comply with these
laws, regulations or permits, we could be fined or otherwise sanctioned by regulators, including through the revocation of our permits
or the suspension or termination of our operations. If we fail to obtain permits in a timely manner or at all (due to opposition from
community or environmental interest groups, governmental delays or any other reasons), or if we face additional requirements imposed
as a result of changes in or enactment of laws or regulations, such failure to obtain permits or such changes in or enactment of laws
could impede or affect our operations, which could have a material adverse effect on our results of operations and financial condition.

We,
as an interest owner or as the designated operator of certain of our current and future discoveries and prospects, could be held liable
for some or all environmental, health and safety costs and liabilities arising out of our actions and omissions as well as