Trio Petroleum Bolsters Canadian Oil Portfolio with Marlin Resources Acquisition

Trio Petroleum Corp has announced its acquisition of 24 oil wells from Marlin Resources Ltd in Saskatchewan's Lloydminster region.

The purchase includes four producing and 20 shut-in heavy-oil assets, which will combine approximately 37 barrels of oil per day (BOPD) of current production with identified existing-well workover upside, a significant new multilateral drilling opportunity, and strategically positioned disposal infrastructure.

A central development opportunity within the acquisition is a proposed Cummings multilateral well on the N/2 of Section 9-48-23W3, which Trio estimates will cost CDN$1.2 million to drill and develop.

The water disposal facility acquired as part of the transaction is better located to support Trio's existing wells, reducing water-hauling distances and disposal costs while creating opportunities for third-party water-disposal and associated skim-oil revenue.