TRILLION ENERGY’S WEST AKCAKOCA WELL ENTERS PRODUCTION

Rhea-AI Summary

Trillion Energy International Inc. reports successful flow test results for the West Akcakoca-1 natural gas well at the SASB gas field in Turkey, achieving a rate of 5.9 MMcf/day. The testing involved two lower 'D' sands, perforated on March 24, 2023, with a shut-in pressure of 1620 psi. The well will now enter long-term production, with an additional 48 metres of gas pay to be perforated, ensuring ongoing output. The company anticipates doubling its gas production with two more wells entering production in April 2023 as part of its SASB development program, suggesting a robust growth trajectory in natural gas production.

Positive

• Flow tested West Akcakoca-1 at 5.9 MMcf/day indicating strong production capabilities.
• Potential doubling of gas production with two additional wells coming online in April 2023.
• Successful drilling from four out of four targets to date, demonstrating operational efficiency.

Negative

• None.

The West Akcakoca-1 Successfully Tested at 5.9 MMcf/day

Vancouver, B.C., March 28, 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 West Akcakoca-1 natural gas well at the SASB gas field, offshore Turkey.

The West Akcakoca well two lower “D” sands with a combined total of 7 metres of natural gas pay were perforated on March 24, 2023. These two zones were flow tested at a rate of 5.9 MMcf/day. Shut-in pressure was 1620 psi. The well will now enter long-term production. 48 metres of gas pay remains to be perforated in the future and will ensure a long-term production horizon for the well.

On March 24^th, the Uranus Rig was skidded over to the Guluc-2 well. Preparations are currently being made to perforate the gas bearing zones to put the well into production, which is expected in a matter of days.

Arthur Halleran CEO of Trillion stated:

“We are very pleased that our gas production is expected to double with two additional wells entering production for April 2023 for a total of four new producing wells from our SASB development program. Since drilling program commenced last year, we have successfully drilled and produced from four out of four targets. Results to date demonstrate the long reach directional technology being used to revitalize the SASB gas field is working well. Now is just the beginning of our planned development; many more wells are to come.”

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 were the flow test results for the West Akcakoca-1 well?

The West Akcakoca-1 well was flow tested at 5.9 MMcf/day.

When is the second well expected to go into production?

The Guluc-2 well is expected to enter production in a matter of days following its perforation.

How much gas pay remains to be perforated at West Akcakoca-1?

There are 48 metres of gas pay remaining to be perforated at West Akcakoca-1.

What is the significance of the West Akcakoca-1 test for Trillion Energy?

The test indicates strong productivity potential, supporting the company's growth strategy in natural gas production.

What does the future look like for Trillion Energy's production?

Trillion Energy expects to double its gas production with additional wells entering production soon.