Company: TPET
Filing Date: 2025-02-05
Form Type: S-1/A
Source: 0001493152-25-005014
Chunk: 179

Company: Trio Petroleum Corp.
Filing Date: 2025-02-05
Form: S-1/A
Chunk 179
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 material to the financial statements and (2) involved our especially challenging, subjective, or complex judgments.
We determined that there are no critical audit matters.

/s/ Bush and Associates CPA LLC

We have served as Trio Petroleum Corp.’s auditor since 2024

Henderson, Nevada

January 17, 2025

| F-2 |

<div align='center'>TRIO PETROLEUM CORP.

BALANCE SHEETS</div>

|                                                                                                  |     |   |     October 
    31, 2024 |   |     |   |     October 
    31, 2023 |   |
|:-------------------------------------------------------------------------------------------------|:----|:--|------------:|:--|:----|:--|------------:|:--|
| ASSETS                                                                                           |     |   |             |   |     |   |             |   |
| Current                                                                                          
 assets:                                                                                          |     |   |             |   |     |   |             |   |
| Cash                                                                                             |     | $ |     285,945 |   |     | $ |   1,561,924 |   |
| Prepaid                                                                                          
 expenses and other receivables                                                                   |     |   |     279,274 |   |     |   |     133,417 |   |
| Total                                                                                            
 current assets                                                                                   |     |   |     565,219 |   |     |   |   1,695,341 |   |
| Oil                                                                                              
 and gas properties - not subject to amortization                                                 |     |   |  11,119,119 |   |     |   |   9,947,742 |   |
| Total                                                                                            
 assets                                                                                           |     | $ |  11,684,338 |   |     | $ |  11,643,083 |   |
| LIABILITIES                                                                                      
 AND STOCKHOLDERS’ EQUITY                                                                         |     |   |             |   |     |   |             |   |
| Current                                                                                          
 liabilities:                                                                                     |     |   |             |   |     |   |             |   |
| Accounts                                                                                         
 payable and accrued liabilities                                                                  |     | $ |   1,036,291 |   |     | $ |     609,360 |   |
| Asset                                                                                            
 retirement obligations – current                                                                 |     |   |       2,778 |   |     |   |       2,