Company: TPET
Filing Date: 2025-02-28
Form Type: S-1/A
Source: 0001493152-25-008715
Chunk: 116

Company: Trio Petroleum Corp.
Filing Date: 2025-02-28
Form: S-1/A
Chunk 116
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 Undiscounted 
 Net          
 Cash         
 Flow         
 ($)          |                  |     | Trio       
 Net        
 Cash       
 Flow       
 Discounted 
 at         
 10% ($)    |                  |
|:---|:---------------------------------------|:----|:------------|--------------:|:----|:------------|--------------:|:----|:------------|--------------:|:----|:-------------|-----------------:|:----|:-----------|-----------------:|
|    | Total Probable                         
 (P2) Undeveloped of Phases 1, 2 & 3    |     |             |  40,185,660.0 |     |             |  42,444,220.0 |     |             |  47,259,696.7 |     | $            | 2,113,179,390.00 |     | $          |   474,510,940.00 |
|    | Total Possible (P3)                    
 Undeveloped of Phases 1, 2 & 3         |     |             | 100,658,830.0 |     |             | 168,532,540.0 |     |             | 128,747,586.7 |     | $            | 7,890,097,180.00 |     | $          | 2,535,954,080.00 |

| 61 |

Reasonable Expectations of Reserve Analyses

This prospectus provides a summary of risks and detailed discussions of risks relating to our business. The Company recognizes these risks as being real and substantial. Nevertheless, the Company has reasonable expectations that the Company’s South Salinas Project will prove to have reserves approximately as estimated, that the Company will have adequate funding to develop the reserves, and that there will exist the legal right to develop the Company’s reserves in the South Salinas Project, including the rights to full-field development, to long-term production and to deliver natural gas to market via pipeline, recognizing as discussed elsewhere hereunder that there may be project delays and/or obstacles related to obtaining necessary permits from regulatory agencies. Furthermore and more specifically, the Company has a reasonable expectation that the primary governmental regulatory agencies that are currently and/or that will be involved in the permitting processes, which agencies will primarily be CalGEM, State Water Boards and Monterey County, will determine to approve the Company’s applications for permits for various reasons that are discussed below. See “ Risk Factors- Risks Rel