CSE: TCFFrankfurt: Z62OTC: TRLEF
Three new side-track wells added to program for total of 11 planned well operations during 2023

January 10, 2023 – Vancouver, B.C. – Trillion Energy International Inc. (“Trillion” or the “Company”) (CSE: TCF) (OTCQB: TRLEF) (Frankfurt: Z62). Trillion Energy is pleased to announce that it has identified several additional opportunities to increase production at the SASB gas field during 2023 by adding three side-track wells to its development program. The total number of wells now contemplated in the SASB development program has increased from seventeen (17) to twenty (20).

Eleven of these well operations are anticipated to occur during 2023, which will result in rapidly increased quantities of natural gas production during the year. Side-track wells and workovers take relatively less time than long reach directional wells (10-30 days vs 45-48 days for a new drill), thus, allowing for an increase in the number of planned wells for 2023.

The side-tracks cost about $3 million less per well than long reach directional wells as they utilize a large section of an existing well bore where a “window” is then milled out from the existing casing to create the new well. The South Akcakoca2 well was successfully drilled as a side-track during 2022.

The opportunity for the additional three side-track wells arose using experience gained from the successful recompletion of initial wells drilled during 2022 as well as other geological works. Production volume, log evaluations, perforation intervals and gas production behavior has now been evaluated to calculate the estimated remaining gas reserves in the East Ayazli Gas field and Akkaya Gas field.

The Company anticipates similar production volumes from the added sidetracks compared to other new wells planned in the drilling program.

Natural gas sale prices for January 2023 are about US $27/MCF, historically high pricing for the Turkiye region.

Arthur Halleran, CEO of Trillion, stated:

“During 2023 we are focusing on using the Uranus rig to increase production through new wells, sidetracks and workovers. An added benefit of drilling side-tracks from existing well boreholes is that they are already tied into the pipeline and production facility, so once drilled and completed the wells are immediately put on production. We are currently in the process of getting our partner’s feedback on the proposed side-tracks. We are pleased to have developed a work program which permits continuous drilling over the year to enable us to exit 2023 with 13 wells.”

 

 

 

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