Updated Report Analysis on Trillion Energy

MAINTAIN SPECULATIVE BUY - $2.25 Target Price
 

On September 18, 2023, Trillion Energy International Inc. (“TCF”) consolidated its shares on a 5 for 1 basis. As a result, the Company’s total number of shares outstanding has been reduced to 77.9mm from 390mm. We maintain our SPECULATIVE BUY recommendation and we have adjusted our target price to $2.25 (from $0.45) to reflect the completion of the share consolidation..

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Trillion is an oil and gas producing company with multiple assets throughout Turkiye. 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 three oil exploration blocks located in Cudi-Gabar Oil Petroleum Province, SE Turkiye. More information may be found on www.sedar.com, and our website.