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Trillion Energy International Inc. C.TCF

Alternate Symbol(s):  C.TCF.WT | TRLEF

Trillion Energy International Inc. is a Canada-based oil and gas producing company that strives to maximize shareholder value through a mix of offshore gas development and high-impact oil and gas exploration in Cudi-Gabar province SE Turkey. The Company is 49% owner of the South Akcakoca Sub-Basin (SASB) natural gas field, a natural gas development project with four offshore platforms, pipelines and gas plant located in shallow water black sea. The Company also has the Vranino 1-11 block, a prospective unconventional natural gas property in Bulgaria.


CSE:TCF - Post by User

Post by jrk8888on Jan 25, 2023 9:20am
269 Views
Post# 35244744

December revenue $3.529 million CDN...

December revenue $3.529 million CDN...

Vancouver, B.C., Jan. 25, 2023 (GLOBE NEWSWIRE) -- Trillion Energy International Inc. (“Trillion” or the “Company”) (CSE: TCF) (OTCQB: TRLEF) (Frankfurt: Z62). Trillion is pleased to provide an update on revenue receipts and production data from SASB for the month of December 2022 for the two new producing wells.

As production commenced on November 4th, 2022 for South Akcakoca-2 and November 24th 2022 for Akcakoca, both wells contributed a full month of production to December’s revenues. Trillion’s 49% share of December 2022 gas production (net of utility gas volumes) was 87.4 MMcf, generating USD $2,647,053 before royalties (US $2,342,633 after royalties) net to the Company. Daily gas production volumes from the wells increased slightly during December due to production rates being fine-tuned.

Drilling Update - Guluc-2 well

The Company is pleased that the Guluc-2 well is nearing completion at 3,524 meters -it is expected to reach total depth of 3,981 meters within days. Drilling results so far been very encouraging with gas shows having been encountered relatively early in the Akcakoca Member sands, a very positive sign.

Arthur Halleran, CEO of Trillion stated:

“As per our plan, the gas revenues generated are being used to fund further drilling activities at SASB. With the identification of new sidetrack locations, long lead items are required to be purchased in a timely manner to facilitate drilling of the sidetrack wells in the second and third quarters of 2023.”

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
Corporate offices: 1-778-819-1585
e-mail: info@trillionenergy.com
Website: www.trillionenergy.com

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