Trillion Energy Announces Asset Disposition and Royalty Agreement
Rhea-AI Summary
Trillion Energy (OTCQB: TRLEF) agreed to sell all shares of Park Place Energy Turkiye, transferring licence interests in the South Akcakoca Sub‑Basin and Cendere oil field to a purchaser.
The deal moves approximately USD $20 million of PPET liabilities to the buyer and preserves a 7% gross overriding royalty (GORR) on future production revenues. The GORR activates after cumulative gross revenues from the licences exceed USD $7.5 million and crystallizes on any future licence disposition, requiring valuation and payment of 7% of the gross disposition value.
Positive
- Removes approximately USD $20 million of legacy liabilities from the balance sheet
- Retains a 7% GORR preserving long‑term upside on production revenues
- Eliminates ongoing capital and operational commitments tied to mature assets
Negative
- Loss of direct operating control and near‑term cash flow from the SASB and Cendere licences
- Royalty requires cumulative gross revenues to exceed USD $7.5 million before payments begin
News Market Reaction – TRLEF
In the Apr 13 session, TRLEF declined 17.51%, reflecting a significant negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
AI-generated analysis. How Rhea-AI works. Not financial advice.
Vancouver, British Columbia--(Newsfile Corp. - April 10, 2026) - Trillion Energy International Inc. (CSE: TCF) (OTCQB: TRLEF) (FSE: Z620) ("Trillion" or the "Company") announces that, through a subsidiary it has entered into a sale agreement for all the issued and outstanding shares of Park Place Energy Turkiye Limited ("PPET"), which owns the Company's licence interests in the South Akcakoca Sub-Basin (SASB) natural gas project and the Cendere oil field ("the Licences").
Key elements of the sale transaction include: Transfer of approximately US
Key terms of the Royalty include: a) effective when cumulative gross revenues from the Licenses post-closing exceed US
About the Company
Trillion Energy International Inc. is focused on oil and natural gas exploration and production in Türkiye. The Company has an agreement to earn a
Contact
Scott Lower, President
Brian Park, Vice President of Finance
1-778-819-1585
E-mail: info@trillionenergy.com
Website: www.trillionenergy.com
Cautionary Statement Regarding Forward-Looking Information
**Forward-Looking Information**
This news release contains "forward-looking information" within the meaning of applicable Canadian securities laws, including but not limited to: statements regarding: the closing and completion of the sale; the terms and operation of the Royalty; the Production Threshold and timing of royalty payments; the implementation and expected effective date of the Share Consolidation; the post-consolidation share count; the planned corporate name change; the Company's strategic focus on oil exploration; and the business and affairs of the Company generally.
Forward-looking information is based on a number of assumptions including, without limitation: access to the block and rig availability; JOC partner approvals; prevailing oil prices and foreign exchange rates; the accuracy of analogies to nearby producing fields; the geological interpretation of available well and seismic data; and the availability of required services and equipment.
Forward-looking information is subject to known and unknown risks, uncertainties and other factors, many of which are beyond the Company's control, that may cause actual results to differ materially from those expressed or implied by such forward-looking information. These risks include: the ability to obtain required regulatory and exchange approvals for the Consolidation and name change; the ability of the Purchaser to meet its obligations under the Sale Agreement; commodity price volatility; counterparty and title risks; geopolitical risks associated with operations in Türkiye; and other risks described in the Company's public filings available on SEDAR+ at www.sedarplus.ca. Readers are cautioned not to place undue reliance on forward-looking information.
The forward-looking information contained in this news release is made as of the date hereof and the Company disclaims any obligation to update any forward-looking information, whether as a result of new information, future events or results or otherwise, except as expressly required by applicable securities law.
*Neither the Canadian Securities Exchange nor its regulation services provider accepts responsibility for the adequacy or accuracy of this news release.*
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/292032