Company: TPET
Filing Date: 2025-02-28
Form Type: S-1/A
Source: 0001493152-25-008715
Chunk: 67

Company: Trio Petroleum Corp.
Filing Date: 2025-02-28
Form: S-1/A
Chunk 67
---
 | up                                                                                                                                
 to 171,994 shares of common stock issuable upon the exercise of outstanding warrants at a weighted exercise price of $13.52       
 per share.                                                                                                                        |
| ● | up                                                                                                                                
 to 6,000 shares of common stock issuable upon the exercise of outstanding options awarded under our 2022 Equity Incentive Plan at 
 a weighted exercise price of $10.46 per share.                                                                                    |
| ● | up to 178,125 shares of                                                                                                           
 common stock issuable upon the vesting of restricted stock units.                                                                 |
| ● | the                                                                                                                               
 issuance of 50,000 shares of restricted stock granted as awards under our 2022 Equity                                             
 Incentive Plan that have not yet been issued; and                                                                                 |
| ● | 112,750                                                                                                                           
 shares of common stock available for future                                                                                       
 grants of awards under our 2022 Equity Incentive Plan.                                                                            |

Each $0.01 increase (decrease) in the assumed public offering price of $1.36 per share, which was the reported closing price of our common stock on the NYSE American, on February 24, 2025, would increase (decrease) the as adjusted amount of each of cash and cash equivalents, total equity and total capitalization by $0.1 million, assuming that the number of Shares and/or Pre-Funded Warrants offered by us, as set forth on the cover page of this prospectus, remains the same and after deducting the estimated placement agent fees and estimated offering expenses payable by us. Similarly, each increase (decrease) of 1,000,000 shares in the number of Shares and/or Pre-Funded Warrants offered by us at the assumed public offering price of $1.36 per share, which was the reported closing price of our common stock on the NYSE American, on February 24, 2025, would increase (decrease) the as adjusted amount of each of cash and cash equivalents, total equity and total capitalization by approximately $1.3 million after deducting the estimated placement agent fees and commissions and estimated offering expenses payable by us.

| 38 |

<div align='center'>DILUTION</div>

If you invest in the securities in
this offering, your ownership interest will be immediately diluted to the extent of the difference between the public offering price
per share of our common stock and the pro forma as adjusted net tangible book value per share of our common stock after this offering