1 July 2026material agreement● Neutral
Increased CFO Greg Overholtzer's monthly pay under his contractor agreement.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
11 May 2026listing compliance notice▼ Bad
Trio Petroleum Corp withdrew a registration statement, abandoning the offering it covered.
27 Mar 2026capital raising announcement▼ Bad
Settled $392,700 in unpaid legal fees owed to law firm McDermott Will & Schulte by issuing 446,149 shares instead of cash -- still stretched for cash well into 2026.
9 Jan 2026material agreement● Neutral
Opened a new $3.6 million at-the-market equity sales facility with Ladenburg Thalmann, effectively replacing the September 2024 Spartan Capital ATM agreement.
5 Jan 2026asset acquisition disposition▲ GoodMajor
Signed and immediately closed a third, separate deal with Novacor Exploration -- another CD$1 million (~US$730,300) Canadian asset purchase, this time paid entirely in 912,875 shares with no cash component.
29 Dec 2025capital raising announcement● Neutral
Renewed its investor-relations contract with Redwood Empire Financial Communications for the first half of 2026, paid in 50,000 shares.
4 Nov 2025asset acquisition disposition▲ Good
Closed the Capital Land Services acquisition: CD$150,000 cash plus 104,227 shares issued.
27 Oct 2025material agreement● NeutralMajor
Agreed to a second Canadian acquisition -- Alberta mineral leases from Capital Land Services Ltd. for CD$150,000 cash plus CD$150,000 in shares -- contingent on a separate receivership-related transaction (Revitalize Energy Inc., under PwC as court-appointed receiver) closing first.
18 Aug 2025capital raising announcement▼ BadMajor
Raised $1.2 million from three institutional investors via unsecured convertible notes (15% OID, $1.02 million net), with a new placement agent (Ladenburg Thalmann, replacing Spartan on this deal) and restrictive covenants requiring 25% of any future equity-financing proceeds go toward repaying these notes.
29 May 2025material agreement termination▼ BadMajor
Walked away entirely from the McCool Ranch related-party deal with Trio Petroleum LLC, mutually terminating it with no refund of the money already paid -- the October 2023 insider transaction failed to pan out.
21 May 2025asset acquisition disposition▲ GoodMajor
Closed the Novacor Lloydminster acquisition in full (US$650,000 total: cash plus 526,536 shares) and separately amended its bylaws to lower the shareholder-meeting quorum to just one-third of voting power.
20 May 2025material agreement● NeutralMajor
Signed a non-binding LOI to acquire Heavy Sweet's separate 2,000-acre P.R. Spring, Utah acreage for $150,000 upfront plus 1,492,272 shares and $850,000 cash at closing, contingent on its existing Asphalt Ridge wells reaching 40 barrels/day sustained production by May 2026. (This filing's cover page lists TPET as trading on Nasdaq rather than NYSE American -- inconsistent with every surrounding filing and likely a template error, not an actual listing change; logged as an issue.)
18 Apr 2025material agreement▼ Bad
Extended the Heavy Sweet Asphalt Ridge option yet again (Amendment No. 6) -- eighteen months of repeated extensions with no deal closed.
17 Apr 2025capital raising announcement▼ BadMajor
Opened a new convertible note ($321,176 face, 15% OID) that it amended and restated four days later to $712,941 face / $606,000 funded, at a $0.48 conversion floor, maturing October 2025 -- financing the Canadian expansion.
10 Apr 2025asset acquisition disposition▲ GoodMajor
Made its first international move: formed subsidiary Trio Petroleum Canada Corp to buy Novacor Exploration Ltd.'s heavy-oil assets in Lloydminster, Saskatchewan, funding the purchase with a US$1,131,000, 3-year, 12% loan from the parent company to the new subsidiary.
26 Feb 2025material agreement▼ Bad
Extended the Heavy Sweet Asphalt Ridge option twice more (to February 10, then April 10, 2025) -- fifteen months after signing, the option still hasn't converted into an actual acquisition.
29 Jan 2025material agreement▼ Bad
Extended the August 2024 note's payment schedule once more, then retired its full $285,852 remaining balance by exchanging it for shares priced at 75% of the lowest 10-day closing price -- closing out that note through further dilution rather than cash.
8 Jan 2025material agreement● Neutral
Let CFO Greg Overholtzer's employment agreement lapse at year-end 2024 and immediately re-engaged him as an independent contractor to continue serving as CFO.
6 Nov 2024listing compliance notice▼ BadMajor
NYSE American halted trading in TPET on November 5, 2024 over its sustained low share price; the company resolved it with a 1-for-20 reverse stock split effective November 14, 2024, and trading resumed the next day.
27 Sept 2024material agreement▼ BadMajor
A three-part filing: extended the personal loan from Michael Peterson -- now described as a consultant and former CEO, confirming a leadership change since his April 2024 loan -- to October 28, 2024 for a $5,000 fee; opened a new $4.8 million at-the-market equity sales facility with Spartan Capital Securities; and extended the Heavy Sweet option again, to December 10, 2024.
19 Sept 2024material agreement▼ Bad
Amended both the April and June 2024 convertible notes to reprice conversion using a market-average formula -- continuing to loosen note terms as the company's financial position stayed strained.
12 Sept 2024capital raising announcement● Neutral
Hired a media/advertising consultant, paid partly in 250,000 restricted shares.
8 Aug 2024capital raising announcement▼ Bad
Raised a similar small note ($225,000 gross, $255,225 face, same 12%/$0.18-floor terms) and, in the same filing, extended the Heavy Sweet Asphalt Ridge option two more months, to October 10, 2024.
5 Aug 2024capital raising announcement▼ Bad
Another small note: $134,000 gross, $110,625 net, on $152,000 of face after an $18,000 original issue discount, 12% interest, repayable in five instalments between January and May 2025. It converts only on an event of default, and then at the greater of 75% of market price or an $0.18 floor, with the balance accelerating to 150% at 22% default interest.
28 June 2024capital raising announcement▼ BadMajor
Raised $720,000 from two more institutional investors via matching $400,000, 10%-OID convertible notes and warrants at $0.39525/share -- and gave both investors the right to participate in up to 100% of any future debt financing.
14 May 2024auditor change● Neutral
Appointed Bush & Associates CPA LLC as its new auditor, effective May 8, 2024.
7 May 2024auditor change▼ BadMajor
Dismissed BF Borgers CPA PC as auditor -- timing that coincides with the SEC's May 2024 enforcement action barring BF Borgers from public-company audit work industry-wide, though this filing itself cites only routine reasons (no disagreements; going-concern doubt already flagged in its prior reports).
25 Apr 2024capital raising announcement▼ Bad
Brought in a second investor alongside the one from nine days earlier, on matching $400,000/10%-OID note terms with cross-default and cross-prepayment provisions between the two notes.
17 Apr 2024capital raising announcement▼ BadMajor
Raised another $360,000 gross ($310,000 net) via a new $400,000 senior secured convertible note (10% OID, $0.25 conversion price, 750,000 commitment shares), maturing August 2024.
8 Apr 2024material agreement▼ BadMajor
Paid off both tranches of the October 2023 financing in full by issuing 8,926,664 shares at the $0.15 floor price plus a 3% premium -- closing out that note, at a heavy dilution cost.