TPET raises $19M via ATM, alleviates going-concern doubt; Canadian assets drive revenue growth

Filed March 17, 2026 · Period ending January 31, 2026 · Compared to 10-Q Mar 14, 2025 · ~2 min read

Key Changes

• high

  Company raised $18.6M under ATM program after quarter-end, alleviating substantial doubt about ability to continue as going concern that existed as of Jan 31, 2026 balance-sheet date.

  MD&A: Going Concern verify on EDGAR →
• high

  Revenue increased $111K to $122K driven by 3,020 barrels sold from newly acquired Saskatchewan assets, up from 180 barrels at McCool Ranch in prior year; reflects material shift in production base.

  MD&A: Revenue Growth verify on EDGAR →
• high

  Working capital swung from positive $547K to deficit of $28,368,441 as of quarter-end, though post-quarter ATM proceeds subsequently improved liquidity position.

  MD&A: Working Capital verify on EDGAR →