Trillion Energy International Stock Price, News & Analysis

Trillion Energy International Inc. (CSE: TCF) (OTCQB: TRLEF) has announced successful gas production at its SASB field in the Black Sea. The company completed four workovers as part of its strategic perforation program, resulting in increased gas production capacity. Key highlights include:

- Complete payback of recent perforation costs in just 35 days of production
- 140MMcf produced from July 9 to July 28
- South Akcakoca-2 well stabilizing at approximately 2.75 MMcf/d
- Guluc-2 well producing at a stable rate of about 1.25 MMcf/d
- Average gas production of 4.6 MMcf/d from the Akcakoca Platform

CEO Arthur Halleran expressed optimism about the field's robust production potential and plans to further stabilize gas production using velocity strings.

Trillion Energy International Inc. (CSE: TCF) (OTCQB: TRLEF) has announced successful gas production at its SASB field in the Black Sea. The company completed four workovers as part of its strategic perforation program, significantly increasing gas production capacity. Key highlights include:

- Complete payback of recent perforation costs in just 35 days of production
- Production of 140MMcf from four wells: Guluc-2, South Akcakoca-2, West Akcakoca-1, and Akcakoca-3
- South Akcakoca-2 stabilized at approximately 2.75 MMcf/d
- Guluc-2 producing at a stable rate of about 1.25 MMcf/d
- Average gas production from the Akcakoca Platform at 4.6 MMcf/d

The company is considering decreasing production tubing size to further stabilize gas production at targeted rates. Additionally, Trillion has granted 8,800,000 stock options to directors, officers, employees, and consultants at an exercise price of $0.14 per share, expiring August 12, 2029.

Trillion Energy International Inc. (CSE: TCF) (OTCQB: TRLEF) has completed perforations on the West Akcakoca-1 well at the SASB gas field in the Black Sea. The well now has five perforated zones totaling 9 meters. Initial results show increased well head pressure (WHP) from 1150 psi to 1694 psi. West Akcakoca-1 is currently producing 2.8 MMcf/d using a 28/64 choke. Total combined production from the Akcakoca platform, including Guluc-2 and South Akcakoca-2 wells, is now 7.3 MMcf/d. The company expects further production increases with the installation of new tubing (velocity strings) on additional wells. Trillion plans to use a cost-effective snubbing unit for tubing installation instead of an expensive jack-up rig.

Trillion Energy International (CSE: TCF, OTCQB: TRLEF) has provided an update on flow rates and well perforations at the SASB gas field. Key highlights include:

- South Akcakoca-2: Stabilized well head pressure (WHP) at 371 psi, producing 1.94 MMcf/d using a 42/64" choke.
- Guluc-2: Currently producing 3.35 MMcf/d with a WHP of 484 psi using a 32/64" choke.
- West Akcakoca-1: Two of five zones perforated, showing promising WHP increase from 1150 psi to 1350 psi.
- Akcakoca-3: Perforated over 11 metres of gas pay, expecting 2 MMcf/d production upon velocity string installation.

The company anticipates improved results as remaining zones are perforated and production equipment is installed.

Trillion Energy International Inc. (CSE: TCF) (OTCQB: TRLEF) has announced successful gas perforations at the SASB gas field. The South Akcakoca-2 well showed significant improvement, with flow rates increasing from 0.70 MMcf/d on July 10th to 2.88 MMcf/d by July 15th. Well hole pressure also rose from 86 psi to 318 psi.

The Guluc-2 well was perforated across multiple intervals, resulting in an increase in well hole pressure from 650 psi to 1098 psi. The West Akcakoca-1 well perforation is ongoing, with Akcakoca-3 scheduled next. CEO Arthur Halleran expressed optimism about the reservoirs' potential once water loading is removed. The company plans to install smaller production tubing to extend the wells' productive life.

Trillion Energy International has begun operations at the SASB Gas Field in Turkey. The work program, set to last two months, will involve seven or eight wells, including six drilled last year and older wells with water loading issues. Approximately 16,500 meters of velocity strings and other equipment have been ordered, with deliveries ongoing.

June operations will focus on perforating four wells and installing velocity strings in the AKK-3 well. July operations will install velocity strings in six more wells and potentially pumps in older wells. The company also announced a private placement to raise up to $1.35 million through the issuance of 15 million units at $0.09 per unit, with proceeds aimed at enhancing well performance and long-term production stability.

Trillion Energy International Inc. announced its financial results for the year ended December 31, 2023, highlighting two successful financings totaling CAD $25.8 million. The company also reported completion of a drilling program, consolidation of shares, and exploration agreements. Trillion's 2023 activities aimed at optimizing production, reducing downtime, and increasing gas reserves for stable cash flow. The company is mapping new exploration targets and intends to drill new wells in the Cudi-Gabar region. Financially, Trillion reported revenue of $16.8 million for 2023, with a net loss of $10.1 million.