TRILLION ENERGY INTERNATIONAL SASB DRILLING PROGRAM UPDATE

Rhea-AI Summary

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.

Positive

• Completion of phase 1 well delivery planning for 7 wells.
• US $1.8 million deposit secured for a long-legged jack-up rig.
• Initiated RFQ process for materials and well head equipment.
• Potential for immediate natural gas production amidst high market prices.

Negative

• None.

Company Updates on Engineering and Operational Activities for SASB Drilling Program

Vancouver, BC, May 11, 2022 (GLOBE NEWSWIRE) -- Trillion Energy International Inc. (“Trillion” or the “Company”) (CSE: TCF) (OTCQB: TRLEF) (Frankfurt: Z62) is pleased to provide an update on progress towards its multi-well SASB gas field drilling program scheduled to commence July 2022.

Management is pleased to report that it has made significant advances in the SASB drilling program, including:

• Management and technical team conducted preliminary technical meetings with project partners
• Technical completion of phase 1 of well delivery planning for 7 wells, including preliminary well objectives, planning, rig selection, well design, tenders, shore base and waste management strategies
• RFQ (request for quotation) process for long-lead items initiated and materials ordered such as well head equipment
• US $1.8 million deposit placed to secure a long-legged jack-up rig from a Romanian based company
• Proposal submitted for shore base management and logistics team to a company in the Eregli region.
  
  

Arthur Halleran, CEO of the Company stated:

“The SASB drilling program will provide instant online natural gas reserves production during a time of historically high natural gas prices, allowing the Company to contribute to energy independence and to reward its shareholders.”

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 and other information about this news release and the Company reserves

This release contains forward-looking statements, which are based on current expectations, estimates, and projections about the Company’s business and prospects, as well as management’s beliefs, and certain assumptions made by management. Words such as “anticipates,” “expects,” “intends,” “plans,” “believes,” “seeks,” “estimates,” “may,” “should,” “will” and variations of these words are intended to identify forward-looking statements. Such statements speak only as of the date hereof and are subject to change. The Company undertakes no obligation to publicly revise or update any forward-looking statements for any reason. These statements include, but are not limited to, statements about the Company’s prospectus listing on the Canadian Securities Exchange, the potential impact on the market for its securities, expansion and business strategies, anticipated growth opportunities, and the amount of fundraising necessary to achieve the foregoing. Such 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 Securities and Exchange Commission filings, including the most recently filed Annual Report on Form 10-K and subsequent reports on Forms 10-Q, 8-K. 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 or Prospective Resource report effective October 31, 2021. A copy of the Netherland Sewell & Associates, Inc report on Vranino 1-11 is available upon request.

FAQ

What is Trillion Energy's drilling program start date?

Trillion Energy's SASB gas field drilling program is scheduled to begin in July 2022.

How many wells are planned in the SASB drilling program?

The SASB drilling program includes plans for seven wells.

What amount was deposited for the jack-up rig?

A deposit of US $1.8 million was placed to secure a long-legged jack-up rig.

What are the expected benefits of the SASB drilling program?

The program is expected to provide immediate natural gas reserves and contribute to energy independence.

What is Trillion Energy's stock symbol?

Trillion Energy's stock symbol is TRLEF on the OTCQB.