SASB Gas Field

South Akçakoca Sub-Basin, Black Sea

SASB Production to Substantially Ramp Up in 2022

Shareholder Value

Add near-term value to shareholders by ramping up new well drilling mid-2022.
Development of 17 shallow water gas wells with exceptional profitability to commence in 2022 through directional drilling from existing platforms & infrastructure.
High natural gas prices over >US$9.50/mcf; with a 10 year average of US$7.50/mcf vs. low development cost.
NPV10% of US$169 Million* net to Trillion for reserves & prospects based on GLJ third party reports relating to 2022 drilling program.
Excellent longer-term blue-sky upside through exploration on the SASB block and in the surrounding areas with large discovery prospects.
Excellent longer-term value upside through exploration on the SASB block and in the surrounding area around the SASB block.

Technical Information

Shallow water conventional gas field consists of four discovered non-produced gas pool reserves and numerous development gas pools with very good seismic, geophysical, geological, and expensive engineering data to remove any mystery. The company has been active in the area for >20 years

Legend

Platform

Developed & Producing

Discovered & Undeveloped

Prospective Resources

Natural Gas Reserves and Resources SASB Gas Field

Reserves and resources for the SASB Gas field as prepared by GLJ, Ltd (“GLJ”), an independent third-party consulting firm with effective date of October 31, 2021. The Company plans to produce these 17 wells through its drilling program to commence in 2022.

Item	Class	BCF	NPV10% $US Million	Class	BCF	NPV10% $US Million
Discovered non-producing	2P	20.25	$75.75 m	3P	31.4	$129.2 m
Development prospects, risked	Medium Estimate	23	$93.6 m	High estimate	36.4	$156.0 m
TOTAL		40.3	US$169.35 m		62.4	US$285.2 M
			CND$216 m			CND$367 m

*The Report has been prepared in accordance with resource definitions, standards, and procedures contained in the Canadian Oil and Gas Evaluation (COGE) Handbook. The resource definitions used in preparing this report are those contained in the COGE Handbook and the Canadian Securities Administrators National Instrument 51-101 (NI 51-101).

**NPV 10 Valuation is the discounted value of the reserves after all capital development, operating costs, and royalties before taxes discounted to present-day dollars.

***Prospective resources have both an associated chance of discovery and a chance of development to derive a final chance commercially. GLJ has assigned a 90% chance of development for all six prospects and a chance of discovery ranging from 50% to 90% resulting in a range of chance of commerciality from 45% to 81%.