TRILLION ENERGY INTERNATIONAL PROVIDES DRILLING RIG UPDATE

Rhea-AI Summary

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.

Positive

• Uranus drilling rig contracted and released for SASB gas field.
• Rig capable of drilling in water depths up to 100 meters, enhancing operational capacity.
• CEO expressed optimism about imminent drilling results, indicating potential revenue growth.

Negative

• None.

Vancouver, B.C., July 28, 2022 (GLOBE NEWSWIRE) -- Trillion Energy International Inc. (“Trillion” or the “Company”) (CSE: TCF) (OTCQB: TRLEF) (Frankfurt: Z62) is pleased to announce the offshore jack up drilling rig “Uranus” contracted by the Company has now been released from its previous project and is being prepared for transit to the SASB gas field for the Company’s contemplated 7 well drilling program.

The Uranus rig is a long legged, self-elevating cantilever Marathon Le Tourneau Class 116-C drilling rig capable of drilling in a maximum water depth up to 100 metres and total depth of 7,600 metres. The Uranus is owned and operated by Grup Servicii Petroliere SA (“GSP”). The rig is now undergoing certification and routine maintenance before departing for SASB in August. Certification will include inspection and maintenance of marine equipment, drill equipment, derrick and electrical.

Arthur Halleran CEO stated:

“This is an exciting time for Trillion, as soon as the certification process is complete the Uranus will mobilize and the drilling will commence. It has been a long time to get to this point, but good news of drilling results are imminent.”

About the Company

Trillion Energy is an oil and gas producing company with multiple assets throughout Turkey and Bulgaria. The Company is 49% owner of the SASB natural gas field, one of the Black Sea’s first and largest-scale natural gas development projects; a 19.6% (except three wells with 9.8%) interest in the Cendere oil field; and in Bulgaria, the Vranino 1-11 block, a prospective unconventional natural gas property. 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 contains certain forward-looking statements within the meaning of applicable securities laws. All statements that are not historical facts, including without limitation, statements regarding future estimates, plans, programs, forecasts, projections, objectives, assumptions, expectations or beliefs of future performance, including statements regarding the date on which the Shares are expected to begin trading on the CSE are "forward-looking statements". These forward-looking statements reflect the expectations or beliefs of management of the Company based on information currently available to it. Forward-looking statements are subject to a number of risks and uncertainties, including those detailed from time to time in filings made by the Company with securities regulatory authorities, which may cause actual outcomes to differ materially from those discussed in the forward-looking statements. These factors should be considered carefully and readers are cautioned not to place undue reliance on such forward-looking statements. The forward-looking statements and information contained in this news release are made as of the date hereof and the Company undertakes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws. The CSE does not accept responsibility for the adequacy or accuracy of this release.

FAQ

What is Trillion Energy's upcoming project with the Uranus rig?

Trillion Energy is preparing for a 7-well drilling program at the SASB gas field with the Uranus rig.

When will the Uranus rig mobilize to the SASB gas field?

The Uranus rig is expected to depart for the SASB gas field in August after completing maintenance and certification.

What depth can the Uranus drilling rig operate at?

The Uranus rig can drill in water depths of up to 100 meters and a total depth of 7,600 meters.

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

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

Who owns the Uranus drilling rig?

The Uranus drilling rig is owned and operated by Grup Servicii Petroliere SA.