Company: TPET
Filing Date: 2025-01-17
Form Type: 10-K
Source: 0001493152-25-002760
Chunk: 275

Company: Trio Petroleum Corp.
Filing Date: 2025-01-17
Form: 10-K
Item: Item 1
Chunk 275
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 negotiations with
    Lafayette Energy Corp and/or Trio LLC, entities which certain of our current and former employees, officers and directors serve as
    employees, officers or directors, for example concerning assets where TPET and one of these entities have interests.

    ●
    We
    are operating in a highly capital-intensive industry, and any sales of produced oil and gas may be insufficient to fund, sustain,
    or expand revenue-generating operations.

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

    ●
    The
    drilling of wells is speculative, often involving significant costs that may be more than our estimates, and drilling may not result
    in any discoveries or additions to our future production or future reserves, or it may result in disproving or diminishing our current
    reserves. 

    ●
    We
    have been an exploration stage entity and our future performance is uncertain.

    ●
    Seismic
    studies do not guarantee that oil or gas is present or, if present, will produce in economic quantities.

    ●
    The
    potential lack of availability of, or cost of, drilling rigs, equipment, supplies, personnel, and crude oil field services could
    adversely affect our ability to execute on a timely basis exploration and development plans within any budget. 

    ●
    Our
    business plan requires substantial additional capital, which we may be unable to raise on acceptable terms in the future, which may
    in turn limit our ability to develop our exploration, appraisal, development and production activities.

    ●
    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.

    ●
    Unless
    we replace our petroleum reserves, our reserves and production will decline over time. Our business is dependent on the successful
    development of our various current petroleum assets and projects and/or on continued successful identification and exploitation of
    other petroleum assets and prospects, whereas the identified locations in which we drill in the future may not yield oil or natural
    gas in commercial quantities.

    ●
    Our
    inability to access appropriate equipment and infrastructure in a timely manner may hinder our access to oil and natural gas markets
    or delay our future oil and natural gas production.

    ●
    We
    are subject to drilling and other operational environmental hazards.

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