Trillion Energy Successfully Re-completes Wells in VS Program

Rhea-AI Summary

Trillion Energy has successfully completed velocity string tubing (VS) installations in four existing wells at the SASB Gas Field, Turkey, including three long-reach wells on the Akcakoca Platform. The operation aims to reduce water loading and increase production and recovery. Guluc-2 and West Akcakoca-1 wells have resumed production with steady improvement after experiencing previous production challenges. Akcakoca-3 continues production with reduced daily water production. The company plans to implement VS on two tripod wells and stimulate all wells to enhance reservoir performance. Operations faced delays due to winter weather and equipment ordering requirements.

Positive

• Successful installation of velocity string tubing in four wells
• Production resumed in Guluc-2 and West Akcakoca-1 wells with improvement
• Reduced water production in Akcakoca-3 well

Negative

• Operations delayed due to weather conditions
• Equipment supply chain delays affecting completion timeline
• Previous production challenges due to water loading issues

Vancouver, B.C. , Dec. 03, 2024 (GLOBE NEWSWIRE) -- Trillion Energy International Inc. (“Trillion” or the “Company”) (CSE: TCF) (OTCQB: TRLEF) (Frankfurt: Z62) is pleased to announce that it has successfully run 2 3/8 velocity string tubing (“VS”) in four existing wells, including three long reach wells on the Akcakoca Platform at the SASB Gas Field, Turkey.

The new tubing operation was conducted to reduce water loading, increase production and overall recovery from the wells. With the new tubing strings, the wells should be able to produce at a lower WHP (well head pressure) for a longer period.

Following the velocity string installation, production from Guluc-2 and West Akcakoca-1 commenced production again and is showing steady improvement, demonstrating the program's initial success in enhancing well performance. Both wells previously experienced production challenges causing down time due to water loading with the previous 4 1/2 tubing. The Akcakoca-3 well continues production with reduced daily water production.

The Company is presently planning the next phase of the operation, which is running the VS on two tripod wells and stimulating all the wells to clean up the producing reservoirs, build pressure and increase production. Choke sizes are being adjusted to minimize water production and maximize gas production. The Company has been injecting nitrogen into wells to flush out water build up as needed.

Winter weather conditions prolonged the operation and necessitated a week's break between the tripods and platform operation, as did the requirement for ordering additional equipment (burst disks) which are expected to arrive later this week. 

The Company is confident that these measures will lead to an increase in production for these wells.

About the Company

Trillion Energy International Inc is focused on oil and natural gas production for Europe and Türkiye with natural gas assets in Türkiye. The Company is 49% owner of the SASB natural gas field, a Black Sea natural gas development and a 19.6% (except three wells with 9.8%) interest in the Cendere oil field. More information may be found on www.sedar.com, and our website.

‎Contact

Arthur Halleran, Chief Executive Officer
‎Brian Park, Vice President of Finance
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, delay, 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 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 updated January 31 2023.

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FAQ

What is the status of Trillion Energy's (TRLEF) velocity string program at SASB Gas Field?

Trillion Energy has successfully installed velocity string tubing in four wells, including three long-reach wells on the Akcakoca Platform, with Guluc-2 and West Akcakoca-1 wells showing production improvement.

How many wells received velocity string tubing in Trillion Energy's (TRLEF) December 2023 operation?

Four existing wells received velocity string tubing installations, including three long-reach wells on the Akcakoca Platform.

What are the results of Trillion Energy's (TRLEF) velocity string installation in the Akcakoca-3 well?

The Akcakoca-3 well continues production with reduced daily water production following the velocity string installation.