Trio Petroleum Corp., a California-based oil and gas company, has announced its entry into a Letter of Intent to acquire 2,000 acres at P.R. Spring in the Unita Basin, Utah. This area is recognized as one of the largest tar-sand deposits in North America outside of Canada. The acquisition is from Heavy Sweet Oil LLC (HSO). As part of the proposed transaction, Trio has made a non-refundable payment of $150,000 for the option and plans to issue 1,492,272 restricted shares of its common stock to HSO, along with a cash payment of $850,000. The agreement anticipates Trio's commitment to constructing a minimum of seven production wells for the development of the P.R. Spring Project, with both Trio and HSO entitled to 50% of the net profits. The project promises high potential profitability, owing to the area's large oil deposits and low sulfur content, making it attractive to various industries.