January 24, 2020 08:41 PST
Black Sea Natural Gas Project – South Akcakoca Sub-Basin Gas Field (SASB)
- SASB is the Black Sea’s first commercial natural gas development project
- Phases I & II of the SASB Project were developed between 2008 – 2012 at a total cost of US $608m which was invested by the project partners at the time
- Trillion Energy’s 100% owned subsidiary, Park Place Energy Turkey Limited “PPETL” invested approximately US $180m for a 36.75% interest in the SASB Project to 2013.
- From 2008 to the present, the SASB Gas field has produced approximately 41 BCF of Natural Gas (100%) shared between the project partners.
- During 2017/18 – Trillion Energy acquired a 100% of PPETL, which at that time, owned 36.75% of SASB Gas field
- During 2018, Trillion Energy purchased an additional 12.25% bringing its total interest to 49% of the SASB Gas Field
- During 2018 and continuing into 2019, Trillion Energy /PPETL have embarked on an assessment and study for the future potential of the SASB gas field. This assessment is ongoing and is expected to be completed prior to the end of 2019.
Cendere Oil Field
- 135 barrels of oil per day (bopd) net to Trillion Energy
- $234K/month net revenue to Trillion Energy
- Net present Value (NPV 10%) (Dec 31, 2018) Proven + Probable =$6 million
- 19.6% Working Interest (except 3 wells = 9.8%)
- long life oil field – estimated 10+ years remaining
- 42,833 Hectares, extension of Iraq Zagros Basin into Turkey (100% WI)
- Proximate to several world class oil fields located in Northern IRAQ
- 2D seismic completed
- Several leads and structures identified
Vranino 1 – 11
- Over 200 + exploration well drilled, delineating gas resource
- 38,663 Hectares
- Tight coal bed methane and sands
- Several exploration wells to be drilled and or re-entries to occur
CSE listing pending. TCF symbol requested.