Trio Petroleum shares surge 20% premarket after acquiring Alberta mineral lease with four producing wells for $300K cash and shares.

Trio Petroleum Corp. (TPET) surged 20% in premarket trading following its announcement of acquiring a cash-flow positive Alberta mineral lease with four producing wells. The $300,000 CDN deal, split between cash and restricted shares, includes immediate production potential from two wells post-license transfer and future integration of two additional wells. The acquisition aligns with the company’s expansion into Alberta and its strategy to boost shareholder value through high-quality, revenue-generating assets. CEO Robin Ross highlighted the lease’s near-term production and long-term development upside, reinforcing confidence in 2026 production targets. The transaction’s low capital requirements and existing infrastructure further underscore its strategic fit, driving optimism among investors.