Trio Petroleum entered LOI to acquire certain properties held by Novacor

Trio Petroleum (TPET) announces that it has entered into a non-binding Letter of Intent, LOI, for the acquisition of a 100% working interest in certain petroleum and natural gas properties held by Novacor Exploration, which are located in the prolific Lloydminster, Saskatchewan heavy oil region. In the event that Trio consummates the Acquisition, it believes that it could strategically position itself to expand its operations into one of North America’s most promising heavy oil basins, with upside potential for long term production and reserve growth. Since the Novacor assets are in the heavy oil area, they offer economical development and low operational costs. Market accessibility combined with a favorable regulatory process makes this area very attractive for continued and future development within these lands.