Company: TPET
Filing Date: 2025-01-17
Form Type: 10-K
Source: 0001493152-25-002760
Chunk: 289

Company: Trio Petroleum Corp.
Filing Date: 2025-01-17
Form: 10-K
Item: Item 1
Chunk 289
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 which may depend on the contracting, financing, building and operating of infrastructure by third parties.

We
are subject to numerous risks inherent to the exploration and production of oil and natural gas.

Oil
and natural gas exploration and future production activities involve many risks that a combination of experience, knowledge and interpretation
may not be able to overcome. Our future will depend on the success of our exploration and future production activities and on the development
of infrastructure that will allow us to take advantage of our discoveries. As a result, our oil and natural gas exploration and future
production activities are subject to numerous risks, including the risk that drilling will not result in commercially viable oil and
natural gas production. Our decisions to purchase, explore or develop discoveries, prospects or licenses will depend in part on the evaluation
of seismic data through geophysical and geological analyses, production data and engineering studies, the results of which are often
inconclusive or subject to varying interpretations.

Furthermore,
the marketability of expected oil and natural gas production from any future discoveries and prospects will also be affected by numerous
factors. These factors include, but are not limited to, market fluctuations of prices, proximity, capacity and availability of processing
facilities, transportation vehicles and pipelines, equipment availability and government regulations (including, without limitation,
regulations relating to prices, taxes, royalties, allowable production, domestic supply requirements, importing and exporting of oil
and natural gas, environmental protection and climate change). The effect of these factors, individually or jointly, may result in us
not receiving an adequate return on invested capital.

In
the event that our currently undeveloped discoveries and prospects are developed and become operational, they may not produce oil and
natural gas in commercial quantities or at the costs anticipated, and our projects may cease production, in part or entirely, in certain
circumstances. Discoveries may become uneconomical as a result of an increase in operating costs to produce oil and natural gas. Our
actual operating costs may differ materially from our current estimates. Moreover, it is possible that other developments, such as increasingly
strict environmental, climate change, health and safety laws and regulations and enforcement policies thereunder and claims for damages
to property or persons resulting from our operations, could result in substantial costs and liabilities, delays, an inability to complete
the development of our discoveries or the abandonment of such discoveries, which could cause a material adverse effect on our financial
condition and results of operations.

We
are subject to drilling and other operational environmental hazards.

The