Trio Enters T Acquire 2000 Acres In P.R. Spring Utah; Trio Paid HSO on-Refundable Payment Of $150,000, At Closing Expects To Issue 1,492,272 Restricted Shares And Pay HSO $850,000 In Cash; To Provide 100% Of Required Capital Expenditures And Trio And HSO Entitled To 50% Net Products

Pursuant to the terms and conditions of the Definitive Agreement, it is intended that Trio will construct a minimum of seven production wells in connection with the P.R. Spring Project, during the two-year period after the Closing.

It is also expected that the Definitive Agreement will contain such other terms and conditions as are customary in an acquisition of this nature including, without limitation, representations and warranties, conditions for Closing and applicable indemnifications.

Trio's obligation to enter into the Definitive Agreement shall be subject to delivery of evidence of a minimum sustained production rate of 40 barrels per day for a continuous 30-day period from each of the two wells at the Asphalt Ridge site.