Company to conduct technical study contiguous to its existing natural gas production block VANCOUVER, British Columbia and ANKARA, Turkey , March 10, 2021 (GLOBE NEWSWIRE) --Trillion Energy International Inc. (“Trillion” or the “Company”) (CSE: TCF) (OTC: TCFF) (Frankfurt: 3P2N) is pleased to announce its plan to expand its offshore acreage at the SASB Gas field from its current 12,385 hectares (the Production Block”) by approximately 200,000 hectares, a 16 fold increase, aimed at discovering additional new gas resources proximate to its field and search for deeper gas potential.
The first step in this process is to conduct a technical study under a Technical Investigation Survey Permit of the surrounding area “the Permit”. The license fee is approximately US$40,000 for the 200,000 hectares for the Permit.
Upon receiving the Permit, the Company plans to reprocess existing 3D and 2D seismic shot over 15 years ago which covers the Permit area. New methods for processing the seismic are expected to greatly improve the quality of the data allowing the Company to define new exploration targets proximate to the Production Block but located outside the current boundaries. The below map sets out the 2D seismic (light blue) covering proposed exploration area relative to the Production Block (dark blue cross hatch):
A photo accompanying this announcement is available athttps://www.globenewswire.com/NewsRoom/AttachmentNg/bbbdebda-1750-4ce6-bde4-88de317c8369
The Company’s decision to commence new exploration was spurred by the recently announced discoveries 1 of 405 BCM (billion cubic meters) (14 TCF) of natural gas during August and October 2020 by TPAO in a block 100 miles north of the Production Block, a find which the Company believes to be one of the biggest for Europe in 30 years. The South Western Black Sea area has been the source of recent activities by US majors such as Carlyle Group and Exxon with their Neptune Deep and Midas natural gas developments. In the Company’s view, the recent TPAO discovery indicates that source rocks have produced large quantities of natural gas sufficient to warrant additional exploration. The Company is uniquely positioned being one of the first companies to develop a natural gas field in the Black Sea.
CEO Arthur Halleran states, “The best place to look for more gas is within the area you are already producing gas. We have substantial existing infrastructure in the area and good knowledge of the basin given our extensive work and successful discoveries to date.”
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; a 100% interest in 42,833 hectares oil exploration block covering the northern extension of the prolific Iraq/ Zagros Basin; and in Bulgaria, the Vranino 1-11 block, a prospective unconventional natural gas property.
For further information, please see our website: www.trillionenergy.com or email us:info@trillionenergy.com
The Company’s NI 51-101 and other reports relating to its reserves as of December 31, 2019 are filed on www.sec.gov , www.sedar.com , www.thecse.com , as well as the Company’s website.
Contact
Art Halleran: 1-250-996-4211
Corporate offices: 1-778-819-1585
e-mail: info@trillionenergy.com
Website: www.trillionenergy.com