Trio Petroleum strikes Canadian heavy oil farm-in deal

Trio Petroleum has entered a farm-in and development agreement with Croverro Energy for Lloydminster heavy-oil drilling in Alberta and Saskatchewan. The program targets up to 14 new multilateral wells over about 18 months, alongside a Rivercourse re-entry and a producing-property acquisition. Trio will fund approximately CAD 1.8 million of development capital for an 80% revenue interest until payout, then 60%. Croverro will remain operator.