Trillion Energy sells SASB, keeps 7% royalty

Trillion Energy International Inc. has agreed to sell all the shares of its subsidiary Park Place Energy Turkiye Limited, which holds its interests in the SASB natural gas project and the Cendere oil field.

Rhea-AI Filing Summary

Trillion Energy International Inc. has agreed to sell all the shares of its subsidiary Park Place Energy Turkiye Limited, which holds its interests in the SASB natural gas project and the Cendere oil field. As part of the deal, approximately US$20 million of liabilities tied to these assets will be transferred to the buyer.

In return, Trillion will retain a 7% Gross Overriding Royalty on future production revenues from these licences. This royalty begins once cumulative gross revenues after closing exceed US$7,500,000, and any future sale of the licences will require payment to Trillion of 7% of the gross value attributed to them. The transaction removes substantial legacy obligations and ongoing capital and operating commitments from mature assets while preserving long-term upside through royalty income.

The company remains focused on oil and gas exploration in Türkiye and has an agreement to earn a 29% working interest in the M47 oil exploration block in the Cudi-Gabar petroleum province. The news release also references plans for a share consolidation, a corporate name change, and a strategic emphasis on oil exploration, all described as forward-looking and subject to various assumptions and risks.

Insights

Energy sector equity analyst

Trillion trades mature gas assets and debt for royalty-based upside.

Trillion Energy is divesting its SASB gas and Cendere oil interests via the sale of all shares of PPET. The buyer assumes about US$20 million of liabilities, while Trillion keeps a 7% gross overriding royalty on future production revenues from these licences.

The royalty activates only after cumulative gross revenues from the licences exceed US$7,500,000 post-closing. Any later sale of the licences triggers a payment equal to 7% of the gross value ascribed to them. This structure offloads legacy obligations and ongoing capital and operating commitments, while keeping exposure to potential upside if production or asset values improve.

Trillion highlights a strategic focus on oil, including an agreement to earn a 29% working interest in the M47 block in southeastern Türkiye. The forward-looking language around share consolidation, name change, and future operations underlines execution and regulatory risks; subsequent disclosures will be needed to see how these strategic shifts are implemented.

Key Figures

Liabilities transferred: US$20 million Royalty rate: 7% Gross Overriding Royalty Royalty revenue threshold: US$7,500,000 +1 more

4 metrics

Liabilities transferred US$20 million Associated liabilities of PPET transferred to purchaser

Royalty rate 7% Gross Overriding Royalty On future production revenues from SASB and Cendere licences

Royalty revenue threshold US$7,500,000 Cumulative gross revenues post-closing required before royalty is effective

Working interest in M47 block 29% Agreement to earn working interest in M47 oil exploration block

Key Terms

Gross Overriding Royalty, legacy liabilities, Production Threshold, Share Consolidation, +2 more

6 terms

Gross Overriding Royalty financial

"retention of a 7% Gross Overriding Royalty (GORR) on future production revenues"

A gross overriding royalty is a contractual right that pays its holder a fixed percentage of revenue from the sale of produced minerals, oil, or gas, taken before the producing company deducts operating or capital costs. Think of it like a landlord who collects a slice of every sale from a shop on the property rather than sharing in the shop’s profits; it reduces the producer’s cash receipts on each unit sold without requiring the royalty holder to share costs or ownership. Investors care because it lowers future cash flow and project valuation per unit produced, can be transferable, and affects how attractive a resource or company appears compared with similar assets without such claims.

legacy liabilities financial

"eliminating >USD$20m legacy liabilities from its balance sheet"

Production Threshold financial

"the Production Threshold and timing of royalty payments"

Share Consolidation financial

"the implementation and expected effective date of the Share Consolidation"

Share consolidation is a process where a company reduces the total number of its shares by combining multiple existing shares into a smaller number of higher-value shares. This can make each share more expensive and potentially improve the company’s image. For investors, it often means their ownership remains the same, but the value of each share increases, which can influence how the stock is perceived and traded.

forward-looking information regulatory

"This news release contains “forward-looking information” within the meaning of applicable Canadian securities laws"

Forward-looking information are predictions, plans, estimates or expectations about a company’s future performance, results or events, such as sales forecasts, project timelines, or anticipated costs. It matters to investors because these statements guide expectations but rely on assumptions and uncertain factors—like a weather forecast for a business—so investors should treat them as informed guesses rather than guarantees and consider the risks and possible changes behind the numbers.

working interest financial

"an agreement to earn a 29% working interest in the M47 oil exploration block"

The working interest is the percentage ownership one party holds in an oil or gas lease that gives them the right to a share of production and also the obligation to pay a proportional share of exploration, development and operating costs. Think of it like owning a slice of a cake but also agreeing to pay part of the bill to bake it: a larger working interest means bigger potential revenue when wells produce, but also larger exposure to costs and liabilities if things go wrong.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What asset sale did Trillion Energy (TRLEF) announce in this 6-K?

Trillion Energy agreed to sell all shares of its subsidiary Park Place Energy Turkiye Limited, which holds its SASB natural gas project and Cendere oil field licences, shifting these mature assets and related obligations to a purchaser while retaining a royalty interest in future production revenues.

How much liability does Trillion Energy transfer in the PPET sale?

The transaction transfers approximately US$20 million of liabilities associated with Park Place Energy Turkiye Limited to the buyer. This removes substantial legacy obligations from Trillion’s balance sheet and reduces ongoing capital and operating commitments linked to the SASB gas project and Cendere oil field assets.

What royalty does Trillion Energy keep on SASB and Cendere after the sale?

Trillion retains a 7% Gross Overriding Royalty on future production revenues from the SASB and Cendere licences. This royalty provides continuing economic exposure to these assets despite the sale, allowing potential long-term upside if production or commodity prices support meaningful revenue generation.

When does Trillion Energy’s 7% royalty on the licences start paying?

The 7% royalty becomes effective once cumulative gross revenues from the licences after closing exceed US$7,500,000. Until that revenue threshold is reached, no royalty is due, so actual cash flows depend on future production performance and commodity prices at the SASB and Cendere assets.

What happens to Trillion Energy’s royalty if the licences are sold again?

Any future disposition of the SASB and Cendere licences will crystallize Trillion’s royalty. In that case, Trillion must be paid 7% of the gross value attributed to the licences in the new transaction, effectively converting its royalty interest into a lump-sum payment tied to the sale price.

What is Trillion Energy’s ongoing exploration focus after this sale?

Trillion remains focused on oil and natural gas exploration and production in Türkiye. It has an agreement to earn a 29% working interest in the M47 oil exploration block in the Cudi-Gabar petroleum province, indicating continued investment in earlier-stage oil-focused opportunities.

What forward-looking corporate changes does Trillion Energy reference?

The news release mentions planned implementation of a share consolidation, a corporate name change, and a strategic focus on oil exploration. These are described as forward-looking, dependent on assumptions and subject to regulatory approvals and various risks outlined in the company’s cautionary statements.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 04/10/2026 - 07:18 PM Learn about SEC filing dates

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 6-K

REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16

UNDER THE SECURITIES EXCHANGE ACT OF 1934

For the month of April 10, 2026

Commission File Number: 000-55539

TRILLION ENERGY INTERNATIONAL INC.

(Translation of registrant’s name into English)

Suite 700, 838 West Hastings Street

Vancouver, BC, V6C 0A6

(Address of principal executive offices)

Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F.

☒ Form 20-F ☐ Form 40-F

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): ☐

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): ☐

On April 10, 2026, Trillion Energy International Inc. issued the news release filed herewith as Exhibit 99.1, announcing the asset disposition and royalty agreement of its Cendere and SASB project.

Exhibit No.
99.1		News Release April 10, 2026 – Trillion Energy Announces Asset Disposition and Royalty Agreement.

-2-

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

TRILLION ENERGY INTERNATIONAL INC.

/s/ David Thompson

David Thompson

Director, Audit Committee Chair

April 10, 2026

-3-

Exhibit 99.1

Trillion Energy Announces Asset Disposition and Royalty Agreement

April 10, 2026 — Vancouver, B.C. — Trillion Energy International Inc. (“Trillion” or the “Company”) (CSE: TCF) (OTCQB: TRLEF) (Frankfurt: Z62) 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$20 million in associated liabilities of PPET to the purchaser and retention of a 7% Gross Overriding Royalty (GORR) on future production revenues from the Licences to be paid to Trillion. The Company will further benefit from eliminating >USD$20m legacy liabilities from its balance sheet, as well as further ongoing capital and operational commitments tied to mature assets, while preserving long-term upside through royalty exposure.

Key terms of the Royalty include: a) effective when cumulative gross revenues from the Licenses post-closing exceed US$7,500,000, and b) any future disposition of the Licenses will trigger crystallization of the Royalty, requiring valuation and payment of 7% of the gross value attributed to the Licenses in such disposition.

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 29% working interest in the M47 oil exploration block (c3 and c4 licenses) located in the Cudi-Gabar petroleum province of Southeastern Türkiye. More information may be found on www.sedarplus.ca and on our website.

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.*

Filing Exhibits & Attachments

2 documents

Press Releases

• EX-99.1 EX-99.1 11.8 KB
• EX-99 GRAPHIC 4.6 KB