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Trillion Energy International Inc. is an oil and energy company based in Vancouver, Canada. The company's focus is on increasing reserves through new drillings and optimizing production through artificial lift and tubing size. With a strong commitment to monetizing reserves, Trillion has seen a net reserves value gain despite settling prices. The company's 49% interest in various properties has shown a positive trend in the year-end reserve report for 2023, demonstrating growth and stability in its operations.
Trillion Energy International Inc. (CSE: TCF, OTCQB: TRLEF) has initiated gas sales from its South Akcakoca-2 well, achieving initial production rates of approximately 3.0 MMcf/d. The Akcakoca-3 well has been successfully cleared of lost equipment, making it ready for re-perforation of about 34 meters of gas-bearing zones. This operation is expected to be completed shortly, leading to increased production. The company is focused on natural gas production for the European and Turkish markets, with significant developments reported ahead of schedule.
Trillion Energy International Inc. has commenced the recompletion of the Akcakoca-3 natural gas well at the SASB gas field. This marks the second operation in the company's 17 well development program. The recompletion, which began on November 1, 2022, involves replacing bent tubing and perforating remaining gas zones, with an expected duration of 12 days. Initially producing since March 2011, Akcakoca-3 has faced production interruptions due to mechanical issues, but is anticipated to resume production post-recompletion. Trillion holds a 49% interest in the SASB field.
Trillion Energy International Inc. announced successful completion and flow testing of its South Akcakoca-2 natural gas well in Turkey, achieving a rate of 7.0 - 8.2 MMcf/day. The well features 32.9 metres of natural gas pay with flow tests indicating positive results aligned with expectations. The production facilities will provide final flow rates post-measurement. Future perforation of an additional 10.8 metres of gas-bearing sands is planned. CEO Arthur Halleran expressed satisfaction with the results, marking a successful start to the company’s multi-well program.
Trillion Energy International announced a correction to its October 21, 2022, press release regarding the share purchase warrants issued in March 2021. The corrected total of unexercised warrants is 6,093,080, which can generate proceeds of CAD $740,346 when fully exercised. The expiration date for these warrants has been accelerated to November 21, 2022. CEO Arthur Halleran expects minimal share price pressure due to the warrant acceleration and strong upcoming drilling results. Trillion operates oil and gas assets in Turkey and Bulgaria.
Trillion Energy International has elected to accelerate the expiry of its March 2021 Warrants due to the company's share price closing above CAD$0.15 for 10 consecutive trading days. As of October 21, 2022, the expiry date for remaining unexercised warrants is set to November 21, 2022. A total of 12,025,997 warrants remain unexercised, with different exercise prices: CAD$0.10, CAD$0.12, US$0.08, and US$0.16. The company focuses on oil and gas production in Turkey and Bulgaria, notably holding significant interests in the SASB field and Cendere oil field.
Trillion Energy International Inc. has successfully drilled the South Akcakoca 2 well to a depth of 2,826 meters, identifying numerous potential gas zones. This well is part of the company’s multi-well program in the SASB gas field, Black Sea, Turkiye, where preliminary logging indicates 32.0 meters of potential gas pay across five sands. The production casing has been set, and further testing will determine gas production rates. CEO Arthur Halleran expressed satisfaction with the project, highlighting that it was completed on budget and supports the geological model.
Trillion Energy International Inc. (CSE: TCF, OTCQB: TRLEF) is progressing with its multi-well development program at the SASB Natural Gas Field in Turkiye. The company is fully funded for the initial seven wells, with production expected to start in November. This new supply is crucial for Europe due to reduced gas availability from major suppliers like Nord Stream and Groningen. Trillion's infrastructure is not reliant on these troubled transport systems, positioning it to deliver natural gas amidst rising demand and pricing over $30/mcf.
Trillion Energy International has initiated a multi-well drilling program at the SASB natural gas field following the arrival of the Uranus Rig. This program includes drilling three new directional wells and recompleting one existing well, with operations expected to finish within six months. The company anticipates that first gas production will commence in early November 2022, with gas sold under an existing contract at significant prices. The ongoing program aims to address natural gas shortages in Europe and Turkiye, with plans for a total of 17 wells to be drilled.
Trillion Energy International announced updates on the Uranus Rig mobilization to the SASB gas field. The rig is scheduled to depart on September 8 and arrive on September 11. CEO Arthur Halleran highlighted that the rig's maintenance is on schedule and anticipates gas production to commence by late October. Current gas prices stand at US$30.68/mcf, likely to rise due to reduced supply from Russia. The company's multi-well program aims to address natural gas shortages in Europe and Turkey amidst expected high demand this winter.
Trillion Energy International announced a significant price increase for natural gas from its SASB gas field, now at USD $30.68/Mcf effective September 1, 2022. This marks a 47% increase from August and a 350% surge since 2021. The rise is attributed to a supply squeeze from various regional factors, including the Nord Stream pipeline shutdown and geopolitical tensions. As Turkey's economy grows by 7.6%, Trillion aims to leverage these prices to enhance the economics of its upcoming drilling program, with seven new wells set to commence soon.
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