The South Salinas Project has estimated 40 million barrels of oil plus 42 billion cubic feet of gas in Probable (P2) undeveloped reserves with a total undiscounted net cash flow of approximately $2.1 billion. The company is executing acquisitions and regulatory milestones across operations in Monterey County, California and Uintah County, Utah, and through its subsidiary Trio Petroleum Canada, Corp., in Saskatchewan and Alberta, Canada.
Cyborg Score Rationale
Trio demonstrates promising assets with substantial reserve upside and recent Canadian expansion momentum, but faces challenges as an early-stage producer with modest current production (30-75 BOPD scale in 2024) and complex multi-jurisdictional operations requiring continuous financing and regulatory execution.
Top Insights
South Salinas flagship project represents $2.1B+ net cash flow potential in probable reserves, providing substantial long-term asset value if developed successfully
Recent Canadian expansion (Alberta & Saskatchewan acquisitions in 2025-2026) marks strategic diversification into lower-cost jurisdictions with near-term production ramp potential
Current production remains modest at ~30-75 BOPD across multiple assets as of 2024; path to meaningful cash generation dependent on capital deployment and operational scaling
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Recent Developments
(January 2026) Completed Alberta Energy Regulator approvals for heavy-oil asset with plans to place two wells on production within 7-10 days targeting 30-40 BOPD
(January 2026) Acquired Saskatchewan heavy oil assets including four wells and produced-water disposal facility generating ~$100K/month estimated revenue
(February 2026) Retired $1.2 million convertible promissory notes through equity conversion
(November 2025) Canadian subsidiary acquired mineral lease in Alberta with four producing wells estimated at 60-70 BOPD
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