Trillion Energy Announces CEO Retirement and New Management Appointments
Trillion Energy International announces significant management changes, including the retirement of CEO Arthur Halleran effective December 27, 2024. Sean Stofer, appointed as Chairman of the Board and interim CEO, brings over 20 years of energy industry experience and will lead the company while a search for a permanent CEO is conducted.
The company has also appointed Burak Tolga Terzi as Vice President and Deputy General Manager, bringing 17 years of management experience from companies like Valeura Energy and SOCAR AQS. Additionally, Scott Lower CPA has been named President, having previously served in a consulting role.
Trillion plans to establish an advisory board of industry veterans and aims to add two more directors in Q1 2025. The new leadership will focus on increasing production from existing assets and pursuing strategic acquisitions to enhance shareholder value.
Trillion Energy International annuncia significativi cambiamenti nella gestione, compresa la pensione del CEO Arthur Halleran a partire dal 27 dicembre 2024. Sean Stofer, nominato Presidente del Consiglio e CEO ad interim, porta con sé oltre 20 anni di esperienza nel settore energetico e guiderà l'azienda mentre si svolgerà la ricerca per un CEO permanente.
L'azienda ha anche nominato Burak Tolga Terzi come Vice Presidente e Direttore Generale Aggiunto, con 17 anni di esperienza manageriale in aziende come Valeura Energy e SOCAR AQS. Inoltre, Scott Lower CPA è stato nominato Presidente, avendo precedentemente ricoperto un ruolo di consulenza.
Trillion intende istituire un consiglio consultivo composto da esperti del settore e punta ad aggiungere due nuovi direttori nel primo trimestre del 2025. Il nuovo team dirigente si concentrerà sull'aumento della produzione dagli asset esistenti e sulla ricerca di acquisizioni strategiche per migliorare il valore per gli azionisti.
Trillion Energy International anuncia cambios significativos en la gestión, incluida la jubilación del CEO Arthur Halleran, que será efectiva el 27 de diciembre de 2024. Sean Stofer, designado como Presidente de la Junta y CEO interino, aporta más de 20 años de experiencia en la industria energética y liderará la empresa mientras se busca un CEO permanente.
La empresa también ha nombrado a Burak Tolga Terzi como Vicepresidente y Gerente General Adjunto, con 17 años de experiencia en gestión en compañías como Valeura Energy y SOCAR AQS. Además, Scott Lower CPA ha sido nombrado Presidente, habiendo trabajado anteriormente en un papel de consultoría.
Trillion planea establecer un consejo asesor de veteranos de la industria y busca agregar dos directores más en el primer trimestre de 2025. El nuevo liderazgo se centrará en aumentar la producción de los activos existentes y buscar adquisiciones estratégicas para mejorar el valor para los accionistas.
Trillion Energy International가 중요한 경영 변화를 발표했습니다. 여기에는 CEO Arthur Halleran의 퇴임이 포함되며, 이는 2024년 12월 27일부터 시행됩니다. Sean Stofer가 이사회 의장 및 임시 CEO로 임명되었으며, 그는 20년 이상의 에너지 산업 경험을 보유하고 있으며, 영구적인 CEO를 찾는 동안 회사를 이끌게 됩니다.
회사는 또한 Burak Tolga Terzi를 부사장 및 부총지배인으로 임명했으며, 그는 Valeura Energy 및 SOCAR AQS와 같은 회사에서 17년의 관리 경험을 가지고 있습니다. 추가로, Scott Lower CPA가 이전에 컨설팅 역할을 수행한 후 사장으로 임명되었습니다.
Trillion은 산업 전문가들로 이루어진 자문 위원회를 설립할 계획이며 2025년 1분기까지 두 명의 이사를 추가할 계획입니다. 새로운 리더십은 기존 자산의 생산 증가와 주주 가치를 향상시키기 위한 전략적 인수에 집중할 것입니다.
Trillion Energy International annonce d'importants changements dans sa direction, y compris la retraite du PDG Arthur Halleran à compter du 27 décembre 2024. Sean Stofer, nommé Président du Conseil et PDG par intérim, possède plus de 20 ans d'expérience dans l'industrie de l'énergie et dirigera l'entreprise pendant qu'une recherche de PDG permanent sera effectuée.
L'entreprise a également nommé Burak Tolga Terzi Vice-Président et Directeur Général Adjoint, apportant 17 ans d'expérience en gestion d'entreprises telles que Valeura Energy et SOCAR AQS. De plus, Scott Lower CPA a été nommé Président, ayant auparavant occupé un rôle de consultant.
Trillion prévoit d’établir un conseil consultatif composé de vétérans de l'industrie et vise à ajouter deux nouveaux directeurs au premier trimestre de 2025. La nouvelle direction se concentrera sur l'augmentation de la production à partir des actifs existants et la recherche d'acquisitions stratégiques pour accroître la valeur pour les actionnaires.
Trillion Energy International kündigt bedeutende Änderungen im Management an, einschließlich des Rücktritts von CEO Arthur Halleran, der am 27. Dezember 2024 wirksam wird. Sean Stofer, der zum Vorsitzenden des Vorstands und internen CEO ernannt wurde, bringt mehr als 20 Jahre Erfahrung in der Energiebranche mit und wird das Unternehmen leiten, während ein dauerhafter CEO gesucht wird.
Das Unternehmen hat auch Burak Tolga Terzi zum Vizepräsidenten und stellvertretenden Generalmanager ernannt und bringt 17 Jahre Managementerfahrung aus Unternehmen wie Valeura Energy und SOCAR AQS mit. Darüber hinaus wurde Scott Lower CPA zum Präsidenten ernannt, nachdem er zuvor beratend tätig war.
Trillion plant die Einrichtung eines Beirats aus Branchenexperten und beabsichtigt, im ersten Quartal 2025 zwei weitere Direktoren zu ernennen. Die neue Führung wird sich darauf konzentrieren, die Produktion aus bestehenden Vermögenswerten zu steigern und strategische Übernahmen zur Steigerung des Aktionärswertes zu verfolgen.
- Appointment of experienced energy industry veteran Sean Stofer as Chairman and interim CEO
- Strategic strengthening of management team with experienced executives
- Planned expansion of board with industry veterans in Q1 2025
- Clear focus on production growth and strategic acquisitions
- Departure of long-term CEO who led SASB development project
- Uncertainty during transition period until permanent CEO appointment
Vancouver, B.C., Jan. 03, 2025 (GLOBE NEWSWIRE) -- Trillion Energy International Inc. (“Trillion” or the “Company”) (CSE: TCF) (OTCQB: TRLEF) (Frankfurt: Z62), announces that the Company’s Board of Directors has accepted Arthur Halleran’s resignation and retirement as Chief Executive Officer and Director of the Company, effective December 27, 2024. Mr. Art Halleran served as CEO since 2017 and spearheaded the SASB development project to date.
The Company is conducting an executive search, committed to selecting and appointing a seasoned executive with capital markets and technical experience to lead the Company as CEO. The recruitment process is well under way and the Board of Directors is committed to concluding the transition as soon as possible. The new CEO will focus on exploiting existing assets and strategically enter new plays to increase overall value to all shareholders.
Trillion is pleased to announce that Mr. Sean Stofer P.E., is appointed Chairman of the Board of Directors, and will also assume the role of interim Chief Executive Officer, while the Company completes its executive search for a permanent CEO. Mr. Stofer is a graduate of the University of British Columbia in Engineering and has over 20 years of energy industry leadership and governance experience. Sean has a proven record of founding several successful energy companies and delivering high growth through operational excellence. He has worked on the conventional energy projects and the development of hundreds of megawatts of power projects including solar, wind, hydroelectric and recently the arctic’s largest solar array; Sean was awarded the Top 40 Under 40 in Vancouver, Canada for his business achievements.
Mr. Burak Tolga Terzi has been appointed as a Vice President and Deputy General Manager for the Company. Mr. Terzi holds a Bachelor of Business Administration and Master’s degree in Business Administration and has over 17 years of experience in various management positions.Mr. Terzi previously worked for companies such as Valeura Energy Inc. in Turkey, Weatherford International, SOCAR AQS (the State Oil Company of Azerbaijan Republic), in various roles. With extensive experience in the oil and gas industry, Mr. Terzi has held various roles across multiple companies, gaining comprehensive expertise in both commercial and technical aspects of the business. He has successfully managed and contributed to deep and shallow onshore and offshore drilling projects and underground gas storage projects, demonstrating a strong understanding of their operational and financial components. Additionally, Mr. Terzi has valuable experience in navigating complex challenges while ensuring cost-effective solutions and efficient execution.
Mr. Scott Lower CPA, has been appointed as President of the Company effective immediately. Mr. Lower has served in a consulting role for the Company for several years primarily in the public markets space and and was recently appointed as President of one of the Company’s subsidiaries, Park Place Energy. Mr. Lower holds his CPA designation, a Bachelors of Business Administration from SFU and has a background in finance and public markets.
The Company additionally plans to create an advisory board consisting of industry veterans and seeks to add two more directors as part of its overall transitional plan in Q1 2025.
Interim CEO & Chairman Mr. Sean Stofer remarked:
“We would like to thank Mr. Halleran for his years of dedicated service as CEO in the early development of SASB and Trillion. We look forward to a transformational year for Trillion, by ramping up production leveraging existing assets and acquiring additional assets. The Company is committed to the process of new appointments to drive future growth and success for Trillion shareholders.”
About the Company
Trillion Energy International Inc is focused on oil and natural gas production for Europe and Türkiye with natural gas assets in Türkiye. The Company is
Contact
Sean Stofer, Chairman
1 604 787 1715
E-mail: info@trillionenergy.com
Website: www.trillionenergy.com
Cautionary Statement Regarding Forward-Looking Statements
This news release may contain certain forward-looking information and statements, including without limitation, statements pertaining to the Company's ability to obtain regulatory approval of the executive officer and director appointments. All statements included herein, other than statements of historical fact, are forward-looking information and such information involves various risks and uncertainties. Trillion does not undertake to update any forward-looking information except in accordance with applicable securities laws.
These statements are no guarantee of future performance and are subject to certain risks, uncertainties, delay, change of strategy, and assumptions that are difficult to predict and which may change over time. Accordingly, actual results and strategies could differ materially and adversely from those expressed in any forward-looking statements as a result of various factors. These factors include unforeseen securities regulatory challenges, COVID, oil and gas price fluctuations, operational and geological risks, changes in capital raising strategies, the ability of the Company to raise necessary funds for development; the outcome of commercial negotiations; changes in technical or operating conditions; the cost of extracting gas and oil may increase and be too costly so that it is uneconomic and not profitable to do so and other factors discussed from time to time in the Company’s filings on www.sedar.com, including the most recently filed Annual Report on Form 20-F and subsequent filings. For a full summary of our oil and gas reserves information for Turkey, please refer to our Forms F-1,2,3 51-101 filed on www.sedar.com, and or request a copy of our reserves report effective December 31, 2022 and updated January 31 2023.
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