Company: TPET
Filing Date: 2025-01-17
Form Type: 10-K
Source: 0001493152-25-002760
Chunk: 268

Company: Trio Petroleum Corp.
Filing Date: 2025-01-17
Form: 10-K
Item: Item 1
Chunk 268
---
 subject to numerous risks inherent to the exploration and production of oil and natural gas.”

The
Company currently is preparing a full-field development plan that is expected to include the following key elements:

    ●
    Documentation
    of oil and gas reserves at the Project, including whatever results of the Phase 1 development program are both available and pertinent;

    ●
    Documentation
    of the proposed wells and facilities that would be necessary to underpin full-field development and long-term production;

    ●
    Details
    as to how the Company would minimize surface footprint by directionally drilling from existing well pads and similarly largely using
    existing pads for facilities, which well pads at that time may include the currently existing six well pads plus the two wells pads
    that are planned for construction at the HV-2 and HV-4 well sites. Use of these eight well pads for additional wells and facilities
    will minimize the need for additional surface disturbance in the full-field development plan. The Company’s proposal to use
    existing well pads to minimize surface footprint should help expedite approval of necessary permits;

    ●
    Details
    as to how the Company would endeavor to minimize surface disturbances associated with pipeline construction by utilizing the existing
    Aera Energy gas pipeline and one or more of the two existing Aera Energy oil pipelines. The Company’s proposal to use existing
    pipelines to minimize surface disturbance should help expedite approval of necessary permits;

    ●
    Documentation
    as to how the Company proposes to minimize or eliminate the trucking of oil by utilizing one or more of the two existing Aera Energy
    oil pipelines. The Company’s proposal to use existing pipelines to minimize truck traffic should help expedite approval of
    necessary permits;

    ●
    Documentation
    as to how the Company’s operations will be carried-out in an environmentally and socially responsible manner; and

    ●
    A
    Full Environment Impact Report, discussed immediately below.

    ●
    A
    Carbon Capture and Storage Project as part of the South Salinas Project.

The
Company during Phase 1 or shortly thereafter expects to engage a third-party expert consulting company (“Environmental Consultant”)
to prepare a Full Environmental Impact Report (Full EIR) on the Company’s full-field development plan. It is customary in Monterey
County in these matters for the Environmental Consultant to be chosen by and/or agreed to by the County, for the Environmental Consultant
to report directly to the County’s technical staff, and to avoid any real or perceived