Trio Petroleum shares rise 10.01% premarket after acquiring cash-flow-positive Saskatchewan heavy oil assets from NovaCor.

Trio Petroleum (TPET) surged 10.01% in premarket trading following its announcement of acquiring cash-flow-positive heavy oil assets in Saskatchewan and Alberta. The company highlighted strategic expansion in high-potential regions, emphasizing improved production and cash flow. Recent acquisitions, including NovaCor’s Saskatchewan assets and Alberta production, position Trio to capitalize on North American heavy oil markets. These moves align with the stock’s upward trajectory, reflecting investor optimism over enhanced operational scale and financial stability.