Trillion Energy International Inc. C.TCF

TCF SASB NAT GAS DRILLING PROG BEGINS, GAS PRODUCTION NOV 22

[Humanist]

TRILLION ENERGY’S SASB NATURAL GAS DRILLING PROGRAM BEGINS

   by @GlobeNewswire on 19 Sep 2022, 08:30

 

Vancouver, B.C. , Sept. 19, 2022 (GLOBE NEWSWIRE) -- Trillion Energy International Inc. (“Trillion” or the “Company”) (CSE: TCF) (OTCQB: TRLEF) (Frankfurt: Z62) is pleased to have commenced its multi-well drilling program on the SASB natural gas field, upon successful arrival of the Uranus Rig which was mobilized last week after delays due to maintenance and weather conditions in the Black Sea.

The Uranus Rig is situated at the Akakoca platform where the first wells are being drilled. A total of three directional wells will be drilled from the Akakoca platform, plus one recompletion of an existing well will occur.
The Company estimates the four operations will be completed within 6 months.

The Company planned to pair completion of the Akakoca wells to reduce cost and rig skid times, but each well will produce gas upon completion and sold to market. First gas production is expected early November 2022.         

After the work at the Akakoca platform, the Uranus rig will move to the next of the three platforms at SASB to continue the work program. The Company has plans to drill/complete these initial 7 wells followed by another estimated 10 wells prior to further exploration occurring.

Arthur Halleran, CEO stated:

“The commencement of drilling operations marks a transformative step towards the Company’s bright future, with drilling to lock in much-needed locally sourced gas supplies for the winter months at prices over US$30/mcf. These long reach advanced engineering production wells will allow gas production to immediately be sold under our existing gas contract where we get paid monthly and can then use the revenues to continue to drill new wells.”

The Company’s development program initially includes seven production wells coming online during a time when acute natural gas shortages are menacing Europe and Turkiye. Drilling of additional 10 targets are expected to follow. Natural gas prices continue to spike, breaking historical records as the prospect of a cold winter looms with the worst shortages expected yet to come.

About the Company

Trillion is an oil and gas producing company with multiple assets throughout 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
Art Halleran: 1-250-996-4211
Corporate offices: 1-778-819-1585
e-mail: [e-mail]
Website: www.trillionenergy.com