Company: TPET
Filing Date: 2025-01-17
Form Type: 10-K
Source: 0001493152-25-002760
Chunk: 287

Company: Trio Petroleum Corp.
Filing Date: 2025-01-17
Form: 10-K
Item: Item 1
Chunk 287
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 mineral leasehold. If we are not successful in raising additional capital, we may be unable to continue our future exploration and
production activities or successfully exploit our assets, and we may lose the rights to develop said assets.

A
substantial or extended decline in global and/or local oil and/or natural gas prices may adversely affect our business, financial condition
and results of operations.

The
prices that we will receive for our oil and natural gas will significantly affect our revenue, profitability, access to capital and future
growth rate. Historically, the oil and natural gas markets have been volatile and will likely continue to be volatile in the future.
The prices that we will receive for our future production and the levels of our future production depend on numerous factors. These factors
include, but are not limited to, the following:

    ●
    changes
    in supply and demand for oil and natural gas;

    ●
    the
    actions of the Organization of the Petroleum Exporting Countries (“OPEC”);

    ●
    speculation
    as to the future price of oil and natural gas and the speculative trading of oil and natural gas futures contracts;

    ●
    global
    economic conditions;

    ●
    political
    and economic conditions, including embargoes in oil-producing countries or affecting other oil-producing activities, particularly
    in the Middle East, Africa, Russia and South America;

    ●
    the
    continued threat of terrorism and the impact of military and other action, including U.S. military operations in the Middle East;

    ●
    the
    level of global oil and natural gas exploration and production activity;

    ●
    the
    level of global oil inventories and oil refining capacities;

    ●
    weather
    conditions and natural disasters;

    ●
    technological
    advances affecting energy consumption;

    ●
    governmental
    regulations and taxation policies;

    ●
    proximity
    and capacity of transportation facilities;

    ●
    the
    price and availability of competitors’ supplies of oil and natural gas; and

    ●
    the
    price and availability of alternative fuels.

Lower
oil prices may not only decrease our revenues on a per share basis but also may reduce the amount of oil that we can produce economically.
A substantial or extended decline in oil and natural gas prices may materially and adversely affect our future business, financial condition,
results of operations, liquidity or ability to finance planned capital expenditures.

22

Unless we replace
our petroleum reserves,