Trillion Energy Announces Commencement of Second Well in Its Multiwell Program

Rhea-AI Summary

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.

Positive

• Commencement of the Akcakoca-3 recompletion is a strategic move in the SASB development program.
• The well is expected to resume natural gas production immediately after recompletion.

Negative

• The Akcakoca-3 well has faced intermittent production since November 2019 due to mechanical issues and water buildup.
• Production tubing issues could pose risks to the long-term reliability of the well.

The Akcakoca-3 recompletion at the SASB gas field has now commenced

Vancouver, B.C., Nov. 03, 2022 (GLOBE NEWSWIRE) -- Trillion Energy International Inc. (“Trillion” or the “Company”) (CSE: TCF) (OTCQB: TRLEF) (Frankfurt: Z62) is pleased to announce commencement of the recompletion of the Akcakoca-3 natural gas well, the second operation in the Company’s 17 well SASB development program.

On October 31, 2022, the Uranus Rig was repositioned 3 meters while at the Akcakoca Platform to the Akcakoca-3 well slot. The recompletion will replace the bent 2 ½” tubing with 4 ½” tubing, perforate remaining gas zones upon which time the well will be put back onto production. The recompletion started on November 1^st and is expected to take 12 days.

The Akcakoca-3 well originally entered production during March 2011 and has produced 9.78 Bcf (100% interest) of natural gas to date. The well encountered mechanical issues with the production tubing and water build-up and as a result, has only intermittently produced gas since November 2019. The well is expected to start producing natural gas again immediately upon recompletion.

About the Company

Trillion Energy is focused on natural gas production for European and Turkish markets, through its 49% interest in the SASB natural gas field, one of the Black Sea’s first and largest-scale natural gas development. We also produce oil from the Cendere oil field in which we own 19.6% (except three wells with 9.8%). In Bulgaria we have 100% of a prospective unconventional natural gas property, the Vranino 1-11 block. More information may be found on www.sedar.com, and our website.

Contact
Art Halleran: 1-250-996-4211
Corporate offices: 1-778-819-1585
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 not guaranteeing of future performance and are subject to certain risks, uncertainties, and assumptions that are difficult to predict. Accordingly, actual results 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, 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 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 the first quarter of 2022. 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, 2021 and our Prospective Resource report effective October 31, 2021.

FAQ

What is the status of Akcakoca-3 well as of November 2022?

The Akcakoca-3 well is currently undergoing recompletion, expected to take 12 days, with plans to resume natural gas production.

What challenges has Akcakoca-3 faced in recent years?

The well has experienced intermittent production since November 2019 due to mechanical issues and water accumulation.

What percentage of the SASB gas field does Trillion Energy own?

Trillion Energy holds a 49% interest in the SASB natural gas field.