Trio Petroleum Secures $19M Through ATM to Fund 500–1,000 bpd Asset Acquisitions
Trio Petroleum completed an ATM program raising $19,017,527 gross ($18,446,993 net) through sale of 19.2 million shares, boosting liquidity. Management plans to deploy this capital to acquire 500–1,000 bpd oil and gas assets in Canada and the U.S. and advance workover operations for production growth.
1. ATM Program Results
Trio Petroleum launched an ATM offering on January 9, 2026, and sold 19,202,455 shares for aggregate gross proceeds of $19,017,527, netting $18,446,993 after commissions. Several prospectus supplement amendments increased the placement share capacity to meet investor demand under the program.
2. Capital Deployment Strategy
Management intends to use the net proceeds to acquire higher-impact oil and gas projects producing 500–1,000 barrels per day across Canada and the U.S. and to advance workover operations on existing assets to enhance near-term cash flow.
3. Expansion and Production Outlook
Despite expected oil price volatility, rising global energy demand underpins management’s view of an upward bias. Trio believes targeted acquisitions and operational improvements position the company for meaningful production and cash-flow growth.