Company: TPET
Filing Date: 2025-01-17
Form Type: 10-K
Source: 0001493152-25-002760
Chunk: 270

Company: Trio Petroleum Corp.
Filing Date: 2025-01-17
Form: 10-K
Item: Item 1
Chunk 270
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 that include the following statistics and claims from Californians for Energy Independence:

    ●
    Oil
    and natural gas production in Monterey County plays a fundamental role in sustaining the energy supply and quality of life of the
    County’s 440,000 residents; 

    ●
    Oil
    and natural gas are vital to ensuring the health and safety of California’s communities;

13

    ●
    the
    oil and gas industry contributes to Monterey County’s economy by providing a safe and reliable energy supply that fuels cars,
    heats homes, powers businesses, grows food and produces everyday products. County residents depend on oil and gas to produce and
    deliver their food and water supply, and for the countless products they use every day (e.g., cell phones, computers, medical devices,
    eyeglasses, asphalt roads, plastic kayaks, wet suits, tires, car batteries, etc.) and natural gas is an important local energy source
    for heating and cooking;

    ●
    Roughly
    75% of the oil and gas used in California is imported from foreign countries, many of which are unstable and/or have poor human rights,
    labor and/or environmental standards;

    ●
    Monterey
    County and California lead the way in safe, affordable and environmentally responsible oil and gas production with the world’s
    strictest regulations; 

    ●
    More
    than 25 local, state and federal agencies oversee local oil and gas production in Monterey County;

    ●
    Monterey
    County’s oil and gas workforce includes veterans, union members, first generation citizens, single parents and others, many
    of whom live and raise their families in the County and care deeply about the community;

    ●
    Monterey
    County’s oil and gas industry directly supports approximately 868 full-time jobs with benefits, and nearly 50% of the workforce
    is ethnically diverse; 

    ●
    Average
    annual pay is $107,000 in oil industry: these are good paying jobs and the average wage is more than double the $51,900 average for
    all private sector jobs in Monterey County;

    ●
    The
    oil industry supports $69 million per year in wage payments to employees in the County;

    ●
    The
    oil industry has a positive impact on the region, providing high paying, full-time jobs, and upward mobility for workers including
    those with high school and/or technical degrees;

    ●
    Property