Vancouver, B.C., July 17, 2023 (GLOBE NEWSWIRE) -- Trillion Energy International Inc. (“Trillion” or the “Company”) (CSE: TCF) (OTCQB: TRLEF) (Frankfurt: Z62) is pleased to announce that on July 16, 2023, the Alapli 2 well reached 3,258 metres total measured depth (TMD). Preliminary gas indications based on the mud logging results suggests + 40 metres of potential natural gas pay within 6 separate sands in the Akcakoca Member (SASB production zone).
The next step is running and cementing the 7” production casing then perforating the production zones. The logging while drilling (“LWD”) data is currently being evaluated. The initial perforation intervals are currently being determined to bring the well into production. Completion and flow testing will occur once the well is perforated, with results to be announced next week.
The Alapli 2 well is the sixth well in our multi-well program at the SASB gas field, Black Sea, Turkiye. Our work program at SASB is divided into several projects/phases, where wells are drilled consecutively to streamline operations and reduce drilling costs.
The offset Alapli-1 exploration well drilled several years ago (but which was never produced) tested 7.1 MMcf/d from a combined three zones with a measured thickness of 15 metres.
Arthur Halleran, CEO of Trillion, stated:
“The Alapli 2 gas well gives us 6 successful wells for 6 activities at SASB during our initial project, which was fully funded through equity raises obtained last year as well as revenues from gas production; we do not anticipate further capital being raised for SASB at this time. The success of this technically challenging project has placed a spotlight on Trillion, attracting new and exciting opportunities which will be detailed over the coming weeks.”
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 no guarantee of future performance and are subject to certain risks, uncertainties, change of strategy, and assumptions that are difficult to predict and which may change over time. Accordingly, actual results and strategies 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, changes in capital raising strategies, 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 increase and 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 2023. 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, 2022 and our Prospective Resource report effective October 31, 2021.
