Company: TPET
Filing Date: 2025-01-17
Form Type: 10-K
Source: 0001493152-25-002760
Chunk: 293

Company: Trio Petroleum Corp.
Filing Date: 2025-01-17
Form: 10-K
Item: Item 1
Chunk 293
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 (a primary component of natural gas) and carbon dioxide
(a byproduct of oil and natural gas combustion). The regulation of greenhouse gases and the physical impacts of climate change in the
areas in which we, our customers and the end-users of our products operate could adversely impact our operations and the demand for our
products.

Environmental,
health and safety laws are complex, change frequently and have tended to become increasingly stringent over time. Our costs of complying
with current and future climate change, environmental, health and safety laws, the actions or omissions of our block partners and third
party contractors and our liabilities arising from releases of, or exposure to, regulated substances may adversely affect our results
of operations and financial condition.

We
may incur substantial losses and become subject to liability claims as a result of future oil and natural gas operations, for which we
may not have adequate insurance coverage.

We
intend to maintain insurance against risks in the operation of the business we plan to develop and in amounts in which we believe to
be reasonable. Such insurance, however, may contain exclusions and limitations on coverage. For example, we are not insured against political
or terrorism risks. We may elect not to obtain insurance if we believe that the cost of available insurance is excessive relative to
the risks presented. Losses and liabilities arising from uninsured and underinsured events could materially and adversely affect our
business, financial condition and results of operations.

We
may be subject to risks in connection with acquisitions and the integration of significant acquisitions may be difficult.

We
periodically evaluate acquisitions of prospects, properties, mineral leases, licenses, reserves and other strategic transactions that
appear to fit within our overall business strategy. The successful acquisition of these assets requires an assessment of several factors,
including:

    ●
    oil
    and/or gas reserves;
  
    ●
    future
    oil and natural gas prices and their differentials;
  
    ●
    
    development
    and operating costs; and
  
    ●
    potential
    environmental and other liabilities.

25

The
accuracy of these assessments is inherently uncertain. In connection with these assessments, we perform a review of the subject assets
that we believe to be generally consistent with industry practices. Our review will not reveal all existing or potential problems nor
will it permit us to become sufficiently familiar with the assets to fully assess their deficiencies and potential recoverable reserves.
Inspections may not always be performed on every well, and environmental problems are not necessarily observable even when an inspection
is