Trio Petroleum Corp Announces that the First Test Interval of its HV-1 Discovery Well has Tested at Rates up to 125 BOPD along with Associated Natural Gas
DANVILLE, CA, Aug. 02, 2023 (GLOBE NEWSWIRE) -- Trio Petroleum Corp. (NYSE American: TPET) (“Trio” or the “Company”), a California-based oil and gas company, today announced that the first test interval (a stratigraphic subzone of the Mid-Monterey Clay Member of the Monterey Formation) that is being production tested at the HV-1 discovery well of the South Salinas Project has tested at rates up to approximately 125 barrels of oil per day (BOPD) with associated natural gas and water. These initial test results are preliminary and are based on swabbing operations that may not be definitive. Swabbing operations of the first test interval are scheduled through the end of this week to obtain additional data. The Company then plans to conduct testing operations on additional zones which are believed to be even more prospective.
- Swabbing operations of the first test interval are scheduled through the end of this week to obtain additional data.
- Despite not initially assigning reserves to the Mid-Monterey Clay interval, our testing shows great promise.
- This interval is about 2,000 feet thick, and currently, we are only testing a small portion of it.
- c) Initial oil and gas production rates at the HV-1 well will be announced after initial production tests are completed.