Company: TPET
Filing Date: 2025-03-05
Form Type: S-8
Source: 0001493152-25-009234
Chunk: 37

Company: Trio Petroleum Corp.
Filing Date: 2025-03-05
Form: S-8
Chunk 37
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 levels of our operating expenses.

We face substantial uncertainties in estimating the characteristics of our assets, so you should not place undue reliance on any of our measures.

In this prospectus, we provide numerical and other measures of the characteristics, including with regard to size and quality, of our assets. These measures may be incorrect, as the accuracy of these measures are functions of available data, geological, geophysical, petrophysical and engineering interpretation and judgment. Any analogies drawn by us from other wells, discoveries or producing fields may not prove to be accurate indicators of the success of developing reserves from our assets. Furthermore, we may have inaccurately evaluated the accuracy of the data from analog wells or prospects produced by other parties, which we may have used.

| 20 |

There are uncertainties in reserve forecasts and in associated estimates of future cash flows in the South Salinas Project due to uncertainties in various matters including, for example, in the following:

| ● | the                                                                                                                                    
 areal extent of the oil and/or gas fields and/or prospects;                                                                            |
| ● | the                                                                                                                                    
 gross and net thicknesses of the geologic zones that comprise the oil and/or gas reservoirs (note: “oil and gas reservoirs”            
 are geologic zones that contain oil and/or gas);                                                                                       |
| ● | the                                                                                                                                    
 porosity, permeability and fluid saturations (i.e., oil, gas and/or water saturation) of the oil and/or gas reservoirs;                |
| ● | the                                                                                                                                    
 oil, gas and/or water production rates that will be achieved initially and during extended reservoir performance;                      |
| ● | the                                                                                                                                    
 volumes of oil and/or gas that can be economically extracted from the oil and/or gas reservoirs;                                       |
| ● | the                                                                                                                                    
 extent of natural fractures that will be encountered in the naturally-fractured Monterey Formation oil and gas reservoirs (e.g.,       
 the Monterey Yellow Zone and Monterey Blue Zone that are discussed hereunder and in the Reserve Report and Reserve Supplement Report); |
| ● | pore                                                                                                                                   
 volume compressibility and its impact on reservoir pressure and thus on reservoir performance; and                                     |
| ● | the                                                                                                                                    
 oil- and gas-prices during the life of the Project.                                                                                    |

It is possible that few or none of our wells to be drilled in the future will find accumulations of oil/gas in commercial quality or quantity. Any significant variance between actual results and our assumptions could materially affect the quantities of oil attributable to any particular prospect.

The drilling of wells