TRILLION ENERGY INTL INC - TRLEF STOCK NEWS

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.

Trillion Energy International has provided an update on the mobilization of its Uranus rig to the SASB gas field. Inspectors found deficiencies in the top drive and ballast tank, necessitating repairs for worker safety, expected to conclude this week. The rig will then be positioned at the Akcakoca offshore platform, with the first well spud planned within three days of arrival. This multi-well natural gas development program is timely as Europe and Turkey face acute gas shortages, driving prices to record highs.

Trillion Energy International Inc. (CSE: TCF) (OTCQB: TRLEF) announced the preparation of the Uranus drilling rig for its multi-well drilling program at the SASB natural gas field in the Black Sea, with the rig expected to arrive on August 29, 2022. The program includes seven production wells to address natural gas shortages in Europe and Turkey. Final inspections are set for August 26, and drilling is anticipated to begin around September 1, 2022. CEO Arthur Halleran emphasized the significance of this project amid rising natural gas prices.

Trillion Energy International has announced key executive appointments, enhancing its leadership team as it approaches drilling at the SASB gas field. Sean Stofer joins as an independent director, bringing over 20 years of renewable energy experience. Ozge Karalli is promoted to Chief Financial Officer after 18 years with the company, replacing David Thompson, who remains a director. Renata Kubicek is appointed Corporate Secretary, with extensive expertise in corporate governance. All appointments are subject to regulatory approval, as stated by CEO Arthur Halleran.

Trillion Energy International announces the release of the Uranus drilling rig for its upcoming 7-well drilling program at the SASB gas field. The rig is undergoing certification and maintenance before heading to the site in August. Owned by Grup Servicii Petroliere SA, the Uranus can operate in water depths of up to 100 meters. CEO Arthur Halleran expressed enthusiasm for the imminent drilling results, marking a significant milestone for the company, which holds a 49% interest in the SASB field among its various assets in Turkey and Bulgaria.

Trillion Energy International Inc. has announced the promotion of Kubilay Yildirim to Chief Operating Officer, enhancing its leadership team with experienced personnel in oil and gas. New appointments include Huseyin Nevzat Topaloglu as SASB Project Manager and Fadil Duman as SASB Drilling Manager. The company issued 2,560,000 stock options at $0.30 per share, with specific vesting schedules for employees. These actions aim to strengthen operational capabilities in key projects, particularly in Turkey's SASB natural gas field, while maintaining adherence to regulatory compliance.

Trillion Energy International (OTCQB: TRLEF) has successfully funded its 49% share of a seven-well drilling program in the SASB natural gas field, with capital raises totaling CDN$ 40.4 million (USD$ 32 million) completed. Drilling is set to begin in August 2022, coinciding with record high natural gas prices of USD $18-$20 per MCF. The company has invested CDN$ 5.4 million for essential drilling equipment, which is on schedule. The project aims to significantly boost revenues as production ramps up, with work expected to continue until May 2023.

Trillion Energy International announced the closing of its public offering of 72,536,900 units at $0.31 each, totaling $22,486,439 in gross proceeds. Each unit comprises one common share and a warrant to purchase another share at $0.50 for three years. The offering was led by Echelon Capital Markets, including an over-allotment option exercised for an additional 8,020,900 units. The funds will primarily support the development of SASB gas fields and general corporate purposes.