Company: TPET
Filing Date: 2025-02-28
Form Type: S-1/A
Source: 0001493152-25-008715
Chunk: 115

Company: Trio Petroleum Corp.
Filing Date: 2025-02-28
Form: S-1/A
Chunk 115
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 stock tank barrels of oil (MMSTB) and 42.4 billion standard cubic feet of gas (BCF). This represents 47.3 million BOE of Probable (P2) Undeveloped reserves. The estimated incremental reserves associated with Possible (P3) reserves are 100.7 MMSTB of oil and 168.5 BCF of gas, or 128.7 million BOE (part “F” of the Table below). The combined Phases 1-3 estimated net cash flow to the Company, discounted at 10%, is $474.5 million for the Probable (P2) Undeveloped reserves. Realization of the forecasts associated with Possible reserves provides an additional $2.5 billion for Trio’s interest in the South Salinas Project (again, as shown in part “F” of the Table below).

<div align='center'>Table 1: Estimated Undeveloped Reserves and Cash Flow</div>

ESTIMATED UNDEVELOPED RESERVES AND CASH FLOW

| A. | Phase                            
 1 Undeveloped Reserve Categories |     | Net         
 Trio        
 Undeveloped 
 Oil         
 Reserves    
 (Stock      
 Tank        
 Barrels)    |             |     | Net         
 Trio        
 Undeveloped 
 Gas         
 Reserves    
 (1000       
 CF,         
 or          
 MCF)        |             |     | Net         
 Trio        
 Undeveloped 
 Reserves    
 (Barrels    
 Oil         
 Equivalent) |             |     | Trio         
 Undiscounted 
 Net          
 Cash         
 Flow         
 ($)          |                |     | Trio       
 Net        
 Cash       
 Flow       
 Discounted 
 at         
 10% ($)    |                |
|:---|:---------------------------------|:----|:------------|------------:|:----|:------------|------------:|:----|:------------|------------:|:----|:-------------|---------------:|:----|:-----------|---------------:|
|    | Probable                         
 (P2) Undeveloped of Phase 1      |     |             | 2,017,620.0 |     |             | 2,133,250.0 |     |             | 2,373,161.7 |     | $            | 107,374,250.00 |     | $          |  33,698,230.00 |
|    | Possible (P3) Unde