CSE: TCFFrankfurt: Z62OTC: TRLEF
Price increase will significantly enhance economics of upcoming drilling program  

September 2, 2022 – Vancouver, B.C. – Trillion Energy International Inc. (“Trillion” or the “Company”) (CSE: TCF) (OTCQB: TRLEF) (Frankfurt: Z62) recently received a price increase for the sale of natural gas from its SASB gas field to USD $30.68/Mcf effective September 1, 2022.

Regional natural gas prices have steadily increased this year, more than tripling since 2021. The September price of $30.68 represents a 47% increase over the prior month price for August 2022 of $20.83/mcf and a further increase of nearly 350% over the average price of $8.84/mcf in 2021.

The Company attributes the price increases to a supply squeeze caused by the Nord Stream pipeline shutdown, nuclear power shutdown in Germany, the regional conflict in Ukraine and other factors restricting regional energy supply.

Turkiye’s economy grew 7.6 percent year-over-year in the second quarter of 2022, according to the Turkish Statistical Institute’s August 31, 2022 report. The Company currently sells 100% of its production within Turkiye, thus helping meet demand at a time of critical shortage.

Arthur Halleran, CEO, stated:

“We believe the recent price increases will significantly enhance the economic performance of our seven well drilling program set to commence next week at the SASB gas field. With seven wells producing, we will supply the region with much-needed natural gas in a time of acute shortages and high prices”.

 

 

 

About the Company

Trillion 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; and in Bulgaria, the Vranino 1-11 block, a prospective unconventional natural gas property. More information may be found on www.sedar.com, and our website.

Contact

Art Halleran: 1-250-996-4211

Corporate offices: 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.