Trio Petroleum Corp. · AMEX:TPET
Trio Petroleum — IPO Roadshow (February 2023)
23 slides from Trio Petroleum's IPO roadshow presentation, February 2023
Slide 1: Investor Presentation February 2023
Building On Our History of Production Active in California Since 1983 INVESTOR PRESENTATION FEBRUARY 2023
Slide 2: Disclaimer
DISCLAIMER FORWARD-LOOKING STATEMENTS You may access these documents for free by visiting EDGAR on the SEC Website at This presentation contains forward-looking statements regarding future events and the future results http:/www.sec.gov. Alternatively, we or any underwriter participating in this off
Slide 3: About Us
ABOUT US Trio Petroleum Corp. is a California-focused oil and gas exploration and development company headquartered in Bakersfield, California, with operations in Monterey County. The Company was formed in 2021 as a Delaware C Corp to partner with Trio Petroleum LLC and acquired its 82.75% Working I
Slide 4: Trio History
TRIO HISTORY 1983 1984 2004 2011 2018 2021 2022 Stan leaves Steve Trio Trio makes Trio obtains Consulting Frank Ingriselli, Oxy as its Rowlee (Trio commercially exploration approval to geophysicist former ‘Domestic and Petroleum develops discovery drill & test 4 Scott President International Corp. C
Slide 5: Opportunity to Positively Impact California's Energy Market
OPPORTUNITY TO POSITIVELY IMPACT CALIFORNIA’S ENERGY MARKET California’s Current Energy Market The South Salinas Project has the potential to California is America’s 6th top oil producing state and 8th overall oil and gas positively impact California’s energy market producer.1 by reducing dependency
Slide 6: Surrounded by Major Production
SURROUNDED BY MAJOR PRODUCTION The South Salinas Project is surrounded by California’s prolific world class oil producing basins and fields. San Andreas Fault Zone • Drilled Wells: Over 240K Monterey San Ardo Field • Active Wells: 41K Rinconada 10K BOPD 3 Fault Zone • Operators: 2581 525+ MMBO recov
Slide 7: Project Reserves & Cash Flow
PROJECT RESERVES & CASH FLOW Project Reserves & Cash Flow • We believe the South Salinas Project has the potential to be significant, with an estimated 39.0 million barrels of oil (“MMBO”) plus 40.0 Undeveloped Net Trio Oil Net Trio Gas Net Trio Trio Undiscounted Trio Net Cash Flow billion cubic fee
Slide 8: Single Well Economics of Well Completed in Monterey Yellow & Brown Zones
SINGLE WELL ECONOMICS of WELL COMPLETED IN MONTEREY YELLOW & BROWN ZONES P10 (Probable + Possible) Case & P50 Most Likely Prepared by Independent Third Party SINGLE WELL ECONOMICS P10 CASE PRODUCTION DATA P10 CASE Life of Well 25 years Initial Production Rate 300 BOPD & 90 MCFGPD Net Revenue Oil $58
Slide 9: South Salinas Project, Monterey County, California
SOUTH SALINAS PROJECT, MONTEREY COUNTY, CALIFORNIA Location: Monterey County, California Jolon Rd. N Leasehold: Trio’s extensive leasehold is Hwy 101 8,600 mineral acres and 100% private Humpback property oil field Salinas River Working Interest: 82.75% 30 sq. mi. 3D Royalties: 20% average total roy
Slide 10: Well Pads
WELL PADS The Project includes 6 expansive well pads that simplify permitting by minimizing the need for additional surface disturbance. Humpback Area: 4 large well pads Presidents Area: 2 large well pads (1 at HV-3A discovery well, shown below, and 1at HV-1well to be drilled Q4 2022) 10
Slide 11: Proximity & Access to Refineries
PROXIMITY & ACCESS TO REFINERIES While oil production from the South Salinas Project would be close to multiple refinery options, the Santa Maria Refinery will be the most cost effective for marketing our crude. C A L IF O R N IA Richmond Refinery 245,271 BOPD2 Oil would be trucked by Gazelle Transp
Slide 12: Operations on HV-1 Well Underway
OPERATIONS ON HV-1 WELL UNDERWAY Road and Drilling Pad Completed Rig Identified (left to right) Steve Rowlee, Stan Eschner and Frank Ingriselli at Trio Petroleum HV-1 well site 12
Slide 13: Trio Petroleum Option Potential Assets
TRIO PETROLEUM OPTION POTENTIAL ASSETS Exclusive Options to Acquire Assets Union Avenue Field Kern Front Project Hangman Hollow Field Option to Acquire up to 100% and be Option to Acquire up to 100% and be Option to Acquire 44% and be Operator Operator Operator Oil field discovered in 2011: 6 oil we
Slide 14: Management Team & Advisors
MANAGEMENT TEAM & ADVISORS Frank C. Ingriselli Stan Eschner CEO & Director Executive Chairman & Director Frank Ingriselli is a seasoned leader and entrepreneur with wide-ranging oil exploration and Stan Eschner is a registered geologist, an honorary lifetime member of the Pacific Section production
Slide 15: Management Team & Advisors
MANAGEMENT TEAM & ADVISORS Terry Eschner Steve Rowlee President Chief Operating Officer Terry Eschner is a registered geologist, highly skilled and productive in identifying oil and Steve Rowlee entered the oil industry in 1980 as Manager of Leasing for Bakersfield-based gas opportunities and guidin
Slide 16: Management Team & Advisors
MANAGEMENT TEAM & ADVISORS Gregory L. Overholtzer Gary Horace CFO Operations and Drilling Superintendent Greg Overholtzer is an experienced Chief Financial Officer with a strong background in Gary Horace has spent 48 years in the oil industry, beginning as a roustabout in 1970, publicly traded oil a
Slide 17: Board of Directors
BOARD OF DIRECTORS Michael L. Peterson Robin Ross Director Director Michael Peterson is the CEO of Lafayette Energy Corporation, a Director of Indonesia Energy Robin Ross is a 45-year veteran in financial services and merchant banking. His corporate Corporation (NYSE:INDO), and the CEO of Nevo Motor
Slide 18: Board of Directors
BOARD OF DIRECTORS William J. Hunter John Randall Director Director William Hunter represents over 20 years as an Industrial and Natural Resources John Randall is a California Licensed Professional Geologist (PG), Texas Licensed Investment Banker with $20B in overall transactions, significant experi
Slide 19: Board of Directors
BOARD OF DIRECTORS Thomas J. Pernice Director Thomas Pernice is an entrepreneur and corporate executive with more than 25 years of experience working in the White House as a Presidential appointee under three U.S. Presidents, in the C-Suites of Fortune 500 companies, and as a senior advisor to the F
Slide 20: Industry Leaders in Our Region
INDUSTRY LEADERS IN OUR REGION NASDAQ:XOM NYSE:CVX NYSE:NFG NASDAQ:CRC NASDAQ:BRY Market Cap: Market Cap: Market Cap: Market Cap: Market Cap: $349.6B $275.8B $5.9B $2.9B $569.4M Aera’s operations are centered in California production mainly from Seneca’s West Division fields are Operations in Califo
Slide 21: Environmental, Social & Governance (ESG)
ENVIRONMENTAL, SOCIAL & GOVERNANCE (ESG) As long-term operators and a multi-generational team, we understand the importance of sustainability. Environmental Social Governance An Initial Environment Impact Report (IEIR) We’re focused on producing domestic oil We have significant has been generated fo
Slide 22: Use of Proceeds
USE OF PROCEEDS IPO expected on the NYSE American – symbol to be: TPET Assuming an IPO Price Range of $3-$4 Per Share and Raise of $ 6 million USE OF PROCEEDS $ USD % Development of 2 wells 4,000,000 67% Pay Outstanding Notes $440,000 7% General & Administrative & operating costs $1,560,000 26% Tota
Slide 23: Building On Our History of Production
Building On Our History of Production Trio Petroleum Corp. Trio Petroleum Corp. 5401 Business Park, Suite 115 4115 Blackhawk Plaza Circle, Suite 100 Bakersfield, CA 93309 Danville, CA 94506 www.trio-petroleum.com 23