TRILLION ENERGY’S GULUC-2 WELL TESTS 16.35 MMCF/DAY

Rhea-AI Summary

Trillion Energy International Inc. has successfully put the Guluc-2 natural gas well into production at the SASB gas field in Turkiye. The well achieved a peak flow rate of 16.35 MMcf/day and an initial production rate of approximately 6 MMcf/d. This discovery includes a 73-meter gas pay across 14 intervals, with substantial potential for future production as 67 meters remains to be perforated. The company is transitioning to drill the Bayhanli-2 well, which contains proven reserves of 4.2 Bcf. CEO Arthur Halleran emphasized the Guluc-2 as a significant step in de-risking their gas program, demonstrating a strong operational capability.

Positive

• Guluc-2 well achieved a peak flow rate of 16.35 MMcf/day.
• Initial production rate set at approximately 6 MMcf/d.
• Significant potential with 67 meters of gas pay left to perforate.
• Demonstrates the company's strong operational execution and de-risked drilling program.

Negative

• None.

The Guluc-2 Well put onto production at SASB gas field, Turkiye

Vancouver, B.C., March 29, 2023 (GLOBE NEWSWIRE) -- Trillion Energy International Inc. (“Trillion” or the “Company”) (CSE: TCF) (OTCQB: TRLEF) (Frankfurt: Z62) is pleased to announce flow test results for the Guluc-2 natural gas well at the SASB gas field, offshore Turkiye.

On March 28, 5.5 metres of the lower natural gas sands in the Guluc-2 well were perforated and tested. Flow rates peaked at a rate of 16.35 MMcf/day. Shut-in pressure was measured at 2,000 psi. The well will now enter long-term production with an initial production rate of about 6 MMcf/d.

As previously press released, the Guluc-2 well discovered 73 metres of gas pay across 14 separate intervals. Current flow test results and production is from only 6 meters of gas pay; 67 meters remains to be perforated in the future ensuring a long-term production horizon for the well.

The Guluc-2 well targeted a structure with no previously attributed reserves and represents a significant discovery, as it has the thickest stacked pay (over 70 meters) and highest flow test rates measured to date in our drilling program.

The Uranus Rig is now rigging down and is mobilizing to the East Ayazli Tripod to commence the drilling of Bayhanli-2 well. The Bayhanli well has 2P reserves of 4.2 Bcf (Trillion’s 49% interest).

Arthur Halleran CEO of Trillion stated:

“The Guluc-2 well marks a significant success and will be an excellent producer for years to come. It is the fourth successful gas well in our program, which has now been significantly de-risked from both a geological and engineering standpoint. Guluc-2 is the longest reach well to date -over 3 kilometers horizontal distance. The Rig is now mobilizing to drill the Bayhanli gas pool, a proven reserve never previously produced.”

About the Company

Trillion Energy is focused on natural gas production for Europe and Türkiye with natural gas assets in Türkiye 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 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 are the flow test results of the Guluc-2 well for TRLEF?

The Guluc-2 well achieved a peak flow rate of 16.35 MMcf/day during testing.

What is the initial production rate for the Guluc-2 well?

The initial production rate for the Guluc-2 well is approximately 6 MMcf/d.

What are the reserves of the Bayhanli-2 well associated with TRLEF?

The Bayhanli-2 well has proven reserves of 4.2 Bcf.

How much gas pay was discovered in the Guluc-2 well?

The Guluc-2 well discovered 73 meters of gas pay across 14 separate intervals.