Aug 5, 2023
We sat down with Trillion Energy’s (TCF : TRLEF : Z62 ) CEO Arthur Halleran for a sponsor update. The company is refocusing its efforts. After successfully drilling 6 natural gas wells, Trillion is seeking to maximize daily production and cash flow.
Underwater wells are complex and Trillion is working to balance production in an effort to insure optimal cash flow. Art informed us that the company will begin drilling again in 2024, after completing a major 3D seismic study on its existing and adjoining blocks. While becoming an established natural gas producer, it has entered into a farm-in agreement with Derkim Poliretan Sanayi ve Ticaret A.S. to earn a 50% working & revenue interest in three oil exploration blocks comprised of 151,484 hectares (374,325 acres) within the newly defined Cudi-Gabar petroleum province in Southeastern Turkiye. Art said that, “[This is] the Best Oil Property I’ve Come Across in My Career.” The site is in close proximity to several recent major discoveries. As part of the deal, Trillion will complete 2d seismic on the site and drill 4 wells in 2024.
Art reflected that Trillion is now a natural gas producer, realizing over $2mm per month in net cash flow and is applying the funds to building out the company by making major investments in Turkiye booming energy sector.
The company has come a long way in the past two years. With its latest moves, it is building upon its prior successes and preparing the way for much larger gains in the future. Trillion remains a major holding in our portfolio.
Company website: https://trillionenergy.com