Trio Petroleum shares surge 13.77% premarket after acquiring Alberta oil lease with four producing wells for $300K in cash and shares.

Trio Petroleum Corp. (TPET) surged 13.77% in premarket trading following the announcement of its strategic acquisition of a cash-flow positive Alberta mineral lease. The $300,000 CAD deal (cash and restricted shares) secured four producing wells with estimated output of 60–70 barrels of oil per day, alongside re-entry and drilling opportunities. The transaction, the company’s first step in expanding operations in Alberta, aligns with its disciplined growth strategy to enhance shareholder value. Immediate production from two wells post-license transfer and long-term development potential underscored investor optimism. The acquisition, coupled with the CEO’s emphasis on leveraging technical expertise for sustainable returns, reinforced confidence in the company’s ability to scale production and reserves. Risks related to license transfers and OWA-held wells remain, but the near-term revenue generation and cost-effective infrastructure position the move as a catalyst for near-term and long-term growth.