Welcome to our dedicated page for Trillion Energy International news (Ticker: TRLEF), a resource for investors and traders seeking the latest updates and insights on Trillion Energy International stock.
Trillion Energy International Inc. (OTCQB: TRLEF) generates a steady stream of news centered on its oil and natural gas production activities for Europe and Türkiye. The company’s updates highlight operational work at its SASB offshore gas project in the Black Sea and its interests in the Cendere oil field, giving investors and observers insight into how it manages and develops its energy assets in Türkiye.
Recent news releases describe operational updates at the SASB gas field, including the installation of velocity string tubing in multiple wells on the Akcakoca platform and tripod-based wells such as Alapli-2 and Bayhanli-2. These reports detail the use of nitrogen injection, gas lift compressor systems, and artificial lift solutions like Progressive Cavity Pumps and slim-hole Electric Submersible Pumps, all aimed at mitigating water loading and supporting long-term gas production.
Trillion’s news flow also covers capital markets and corporate actions, such as extensions to the maturity date of its 12.0% convertible debentures, and shares-for-debt settlements with directors, officers, consultants, and other creditors. Some of these transactions are characterized as related-party transactions under Multilateral Instrument 61-101, with the company explaining the regulatory framework it relies on.
Corporate governance developments appear in the news as well, including the retirement of the CEO, the appointment of an interim Chief Executive Officer and Chairman, and additional management appointments. Together, these items provide context on how Trillion Energy is organizing its leadership and financial structure while advancing its oil and gas projects. Investors tracking TRLEF news can use this page to follow operational milestones, financing developments, and management changes over time.
Trillion Energy International Inc. announced successful completion and flow testing of its South Akcakoca-2 natural gas well in Turkey, achieving a rate of 7.0 - 8.2 MMcf/day. The well features 32.9 metres of natural gas pay with flow tests indicating positive results aligned with expectations. The production facilities will provide final flow rates post-measurement. Future perforation of an additional 10.8 metres of gas-bearing sands is planned. CEO Arthur Halleran expressed satisfaction with the results, marking a successful start to the company’s multi-well program.
Trillion Energy International announced a correction to its October 21, 2022, press release regarding the share purchase warrants issued in March 2021. The corrected total of unexercised warrants is 6,093,080, which can generate proceeds of CAD $740,346 when fully exercised. The expiration date for these warrants has been accelerated to November 21, 2022. CEO Arthur Halleran expects minimal share price pressure due to the warrant acceleration and strong upcoming drilling results. Trillion operates oil and gas assets in Turkey and Bulgaria.
Trillion Energy International has elected to accelerate the expiry of its March 2021 Warrants due to the company's share price closing above CAD$0.15 for 10 consecutive trading days. As of October 21, 2022, the expiry date for remaining unexercised warrants is set to November 21, 2022. A total of 12,025,997 warrants remain unexercised, with different exercise prices: CAD$0.10, CAD$0.12, US$0.08, and US$0.16. The company focuses on oil and gas production in Turkey and Bulgaria, notably holding significant interests in the SASB field and Cendere oil field.
Trillion Energy International Inc. has successfully drilled the South Akcakoca 2 well to a depth of 2,826 meters, identifying numerous potential gas zones. This well is part of the company’s multi-well program in the SASB gas field, Black Sea, Turkiye, where preliminary logging indicates 32.0 meters of potential gas pay across five sands. The production casing has been set, and further testing will determine gas production rates. CEO Arthur Halleran expressed satisfaction with the project, highlighting that it was completed on budget and supports the geological model.
Trillion Energy International Inc. (CSE: TCF, OTCQB: TRLEF) is progressing with its multi-well development program at the SASB Natural Gas Field in Turkiye. The company is fully funded for the initial seven wells, with production expected to start in November. This new supply is crucial for Europe due to reduced gas availability from major suppliers like Nord Stream and Groningen. Trillion's infrastructure is not reliant on these troubled transport systems, positioning it to deliver natural gas amidst rising demand and pricing over $30/mcf.
Trillion Energy International has initiated a multi-well drilling program at the SASB natural gas field following the arrival of the Uranus Rig. This program includes drilling three new directional wells and recompleting one existing well, with operations expected to finish within six months. The company anticipates that first gas production will commence in early November 2022, with gas sold under an existing contract at significant prices. The ongoing program aims to address natural gas shortages in Europe and Turkiye, with plans for a total of 17 wells to be drilled.
Trillion Energy International announced updates on the Uranus Rig mobilization to the SASB gas field. The rig is scheduled to depart on September 8 and arrive on September 11. CEO Arthur Halleran highlighted that the rig's maintenance is on schedule and anticipates gas production to commence by late October. Current gas prices stand at US$30.68/mcf, likely to rise due to reduced supply from Russia. The company's multi-well program aims to address natural gas shortages in Europe and Turkey amidst expected high demand this winter.
Trillion Energy International announced a significant price increase for natural gas from its SASB gas field, now at USD $30.68/Mcf effective September 1, 2022. This marks a 47% increase from August and a 350% surge since 2021. The rise is attributed to a supply squeeze from various regional factors, including the Nord Stream pipeline shutdown and geopolitical tensions. As Turkey's economy grows by 7.6%, Trillion aims to leverage these prices to enhance the economics of its upcoming drilling program, with seven new wells set to commence soon.
Trillion Energy International has provided an update on the mobilization of its Uranus rig to the SASB gas field. Inspectors found deficiencies in the top drive and ballast tank, necessitating repairs for worker safety, expected to conclude this week. The rig will then be positioned at the Akcakoca offshore platform, with the first well spud planned within three days of arrival. This multi-well natural gas development program is timely as Europe and Turkey face acute gas shortages, driving prices to record highs.
Trillion Energy International Inc. (CSE: TCF) (OTCQB: TRLEF) announced the preparation of the Uranus drilling rig for its multi-well drilling program at the SASB natural gas field in the Black Sea, with the rig expected to arrive on August 29, 2022. The program includes seven production wells to address natural gas shortages in Europe and Turkey. Final inspections are set for August 26, and drilling is anticipated to begin around September 1, 2022. CEO Arthur Halleran emphasized the significance of this project amid rising natural gas prices.
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