Trillion hires geophysical firm to assess additional gas resource potential of surrounding blocks
April 13, 2021 – Vancouver, BC and Ankara, Turkey – Trillion Energy International Inc. (“Trillion” or the “Company”) (CSE: TCF) (OTC: TCFF) (Frankfurt: 3P2N) is pleased to announce it has retained Oil and Gas Hunter (“OGH”) to conduct geophysical analysis in furtherance of Trillion’s plan to expand its current offshore acreage at the SASB Gas field (the “Production Block”) aimed at discovering additional new gas resources and search for deeper gas potential in the contiguous blocks (the “Exploration Area”), as described in Trillion’s March 10, 2021 news release. As part of the work program OGH will:
- Remap and assess existing drilling targets on the Production Block and evaluate proposed drill locations and planned well trajectories.
- Assess all data in the Exploration Area and as shown on the attached maps disclosed in Trillion’s March 10 2021 news release.
- Reprocess South Akcakoca 3D and regional 2D datasets in the production permit area and technical permit license area shown on the attached maps in Trillion’s March 10 2021 news release.
- Reinterpret and remap reservoir zones on the Production Block to identify:
- Limits of producing reservoir zones;
- Potential bypassed reservoirs or reservoirs not adequately drained;
- Identify new play or prospect ideas;
- Process additional datasets for use in evaluation of prospective areas (AVO, Pre/Post Stack Attributes, etc.)
CEO Art Halleran stated “We are confident that the geophysical assessments by Oil and Gas Hunter will significantly increase our understanding of the gas resources on the SASB gas field. The geophysical work is expected to define new exploration targets proximate to the Production Block but located outside the current boundaries and also to identify new gas on the existing production block as well as confirm existing targets to be drilled in our 2021 drilling program later this year.”
About the Company
Trillion Energy is an oil and gas producing company with multiple assets throughout Turkey and Bulgaria. The Company is 49% owner of the SASB natural gas field, one of the Black Sea’s first and largest scale natural gas development projects; a 19.6% (except three wells with 9.8%) interest in the Cendere oil field; a 100% interest in 42,833 hectares oil exploration block covering the northern extension of the prolific Iraq/ Zagros Basin; and in Bulgaria, the Vranino 1-11 block, a prospective unconventional natural gas property.
Cautionary Statement Regarding Forward-Looking Statements and other information about this news release and the Company reserves
The accuracy of any resources estimate is a function of the quality and quantity of available data and of engineering interpretation and judgement. While resources estimate presented herein are considered reasonable, the estimates should be accepted with the understanding that reservoirs performance subsequent to the date of the estimate may justify revision, either upward or downward.
Revenue projections presented in this report are based in part on forecasts of market prices, currency exchange rates, inflation, market demand and government policy which are subject to many uncertainties and may, in future, differ materially from the forecasts utilized herein. Present values of revenues documented in this report do not necessarily represent the fair market value of the resources evaluated herein.
This release contains forward-looking statements, which are based on current expectations, estimates, and projections about the Company’s business and prospects, as well as management’s beliefs, and certain assumptions made by management. Words such as “anticipates,” “expects,” “intends,” “plans,” “believes,” “seeks,” “estimates,” “may,” “should,” “will” and variations of these words are intended to identify forward-looking statements. Such statements speak only as of the date hereof and are subject to change. The Company undertakes no obligation to publicly revise or update any forward-looking statements for any reason. These statements include, but are not limited to, statements about the Company’s prospectus listing on the Canadian Securities Exchange, the potential impact on the market for its securities, expansion and business strategies, anticipated growth opportunities, and the amount of fundraising necessary to achieve the foregoing. Such statements are not guaranteeing of future performance and are subject to certain risks, uncertainties, and assumptions that are difficult to predict. Accordingly, actual results 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, 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 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 Securities and Exchange Commission filings, including the most recently filed Annual Report on Form 10-K and subsequent reports on Forms 10-Q, 8-K. For a full summary of our oil and gas reserves information, 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, 2020.