Welcome to our dedicated page for TRILLION ENERGY INTL news (Ticker: TRLEF), a resource for investors and traders seeking the latest updates and insights on TRILLION ENERGY INTL stock.
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 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.
Trillion Energy International Inc. has signed a definitive offshore drilling contract with GSP Offshore SRL to secure a jack-up rig for its SASB natural gas field drilling program, scheduled for Q3 2022. The contract entails a daily rate of USD$95,000 for at least 100 days and involves an advance payment of USD$1.0 million. The Uranus rig will mobilize in late July 2022, with drilling of five wells expected to commence in August 2022, aligning with high natural gas prices.
Trillion Energy International (CSE: TCF, OTCQB: TRLEF) has provided a significant update on its SASB gas field drilling program, set to commence in July 2022. Key advancements include the completion of phase 1 of well delivery planning for seven wells, initiation of the RFQ process for materials, and a US $1.8 million deposit made for a jack-up rig. CEO Arthur Halleran emphasizes the program's potential to yield immediate gas production amid high natural gas prices, positioning the company favorably for energy independence and shareholder rewards.
Trillion Energy International Inc. (OTCQB: TRLEF) has successfully cleared FIRNA review and recommenced trading on OTC Markets under the new symbol TRLEF, following a temporary delay due to reapplication after a recent redomicile.
Trading continues on the Canadian Securities Exchange as TCF and in Frankfurt as Z62. CEO Arthur Halleran emphasized the exciting market conditions for energy producers in 2022, urging that this year will be transformative as the company ramps up production in European markets.
FAQ
What is the current stock price of TRILLION ENERGY INTL (TRLEF)?
What is the market cap of TRILLION ENERGY INTL (TRLEF)?
Where is Trillion Energy International Inc. located?
What is the primary focus of Trillion Energy International Inc.?
How has Trillion Energy International Inc. performed in terms of reserves in 2023?
What is the strategy for monetizing reserves at Trillion Energy International Inc.?
Who conducted the evaluation of Trillion Energy International Inc.'s reserves for 2023?
When is Trillion Energy International Inc. expected to file additional reserves information?
How can I contact Trillion Energy International Inc. for corporate inquiries?
Where can I find more information about Trillion Energy International Inc.?
