The SASB gas field is producing critical domestic supply of natural gas during the energy crisis gripping Europe at this time. SASB is a conventional gas field located in the Southwestern Black Sea, consisting of numerous conventional natural gas pools located in shallow water. The fields have produced over 42+ BCF since initial development in 2007. Production platforms, pipelines, initial wells and gas plant cost in excess of US$600m (100% interest). Trillion is redeveloping the field with a planned 21+/- well program commenced in 2022.
License block size: 12,387 Hectares. Expiration: licensed to 2032; renewable until 2042.
Royalty: 12.5%. Corporate tax rate: 22.5%. 2022 Projected CAPEX: USD$50m



- South Akcakoca Sub-Basin, Western Black Sea
- Block boundaries
- 2d seismic
- 3d seismic
- Existing SASB gas field offshore platforms
Additional Exploration Targets
Targets proximate to the platforms & pipelines Includes Stratigraphic Targets
Explore off-block for large natural gas structures
3,100 km of 2D seismic data delineating targets off block for future exploration





SALE PRICE (MAR 2023)
FOR 21 WELLS
- SASB Development Costs
- $42m+ equity financing (2022)
- High Regional Natural Gas prices USD $17/MCF
- Drilling Commenced in Sept 2022 - 3 wells completed to date
- 11 New wells to come online in 2023
- Take or pay contract for all gas
- Cashflows reinvested into Programs B, C & D
- Drill 5 Wells
- Recomplete 2 Existing Wells
- Focus on reserves
- Drill 3 sidetrack wells
- Drill 10+ Wells
- Re-Enter 2 Existing Wells
- Drill 1 Stratagraphic Well
- Add 1 platform
- Subsea Tie-In
- Exploration - Stratagraphic Prospects and channel sands
- Exploration about the field expected to yield new discoveries
- Exploration of Cretaceous Akveren Formation for oil and gas
- Off-block exploration
- Deep-water $30m + per well (100% interest)
- Shallow water
- Tie-ins for production extra
- Paid for by Cashflow from Program A, B and C
Item | Class | BCF | NPV 10% $US Million | Class | BCF | NPV 10% $US Million |
Reserves | 2P | 20.23 | $75.75 m | 3P | 31.4 | $129.2 m |
Prospective Resources, 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%.