TRILLION ENERGY SPUDS FIFTH WELL AT SASB GAS FIELD DEVELOPMENT

Rhea-AI Summary

Trillion Energy International has spudded the Bayhanli-2 gas well at the SASB gas field in the Black Sea, Turkiye. This marks the fifth well in their multi-well drilling program, targeting a previously discovered gas pool. The well is anticipated to reach a total measured depth of 3,400 meters, with drilling expected to take about 45 days. Trillion Energy is a key player in natural gas production for Europe and Turkey, holding a 49% interest in the SASB field, one of the region's largest gas projects. The company is poised for significant production growth as it develops its reserves.

Positive

• Spudding of Bayhanli-2 well enhances potential gas production.
• Targets previously discovered gas pool, indicating potential for high reserves.
• Company's ongoing multi-well drilling program suggests strong growth strategy.

Negative

• Completion timeline of 45 days may introduce operational risks.
• Dependence on gas prices and regulatory approvals presents uncertainties.

Bayhanli-2 gas well spudded at East Ayazli targeting significant Proved Reserves

Vancouver, B.C., April 11, 2023 (GLOBE NEWSWIRE) --

Trillion Energy International Inc. (“Trillion” or the “Company”) (CSE: TCF) (OTCQB: TRLEF) (Frankfurt: Z62) is pleased to announce the spudding of the Bayhanli-2 well at the SASB Gas field, Black Sea Turkiye.

Bayhanli-2 is the fifth gas well in our multi-well drilling program at the SASB gas field development. The well targets a previously discovered gas pool, which was never previously produced, through a long reach directional well bore to enable production. The Bayhanli gas pool is a significant target and may likely require additional wells in the future to fully produce the economic reserves.

Upon completion, the Bayhanli-2 well is expected to reach a total measured depth of 3,400 metres and true vertical depth of about 1,200 metres, extending horizontally over 2 kilometers from the East Ayazli offshore tripod. The well was spud on April 5^th, 2023 and is currently drilled to a depth of 496 metres. We anticipate that drilling, casing, perforation and testing will take a total of about 45 days.

About the Company

Trillion Energy is focused on natural gas production for Europe and Turkey with natural gas assets in Turkiye 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
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 significance of the Bayhanli-2 well for Trillion Energy (TRLEF)?

The Bayhanli-2 well is crucial as it targets a previously discovered gas pool, potentially increasing Trillion Energy's gas production.

When was the Bayhanli-2 well spudded?

The Bayhanli-2 well was spudded on April 5, 2023.

How deep is the Bayhanli-2 well expected to reach?

The Bayhanli-2 well is expected to reach a total measured depth of 3,400 meters.

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

Trillion Energy owns 49% of the SASB natural gas field.

What challenges could affect Trillion Energy (TRLEF) following the Bayhanli-2 well announcement?

Challenges include operational risks associated with the drilling timeline and uncertainties from gas price fluctuations.