Vranino 1-11 Natural Gas
1 TCF Blue Sky Exploration in European Market
Exploration Licence, Bulgaria
Currently Drilling
Est. Completion Date:Vranino 1-11 is a 98,205 acres (397km2) exploration license block located in NE Bulgaria. The region has over 200 wells drilled to date, which map out natural gas charged coal seams concentrated in the license area, and which present an excellent opportunity for Coalbed Methane (CBM) play given the high regional gas prices in 2022. The licence area contains 60 stacked, gas charged coal seams, which give a high average net coal footage per well.
Trillion Energy has a 100% interest in the block. Coal seam depth ranges between 1,300 - 2,100m. The Company plans to test the potential for horizontal and lateral wells to release the gas, without fracking. An extensive data mapping project has been completed, which outlines the over 220 wells drilled between 1960-1990 and which deliniates the natural gas deposits. The natural gas pipeline connection is within 15km of the block. Gas demand is high and natural gas prices are at record prices in europe due to acute shortages.
Vranino1-11 Block Location Map
Vranino Block Timeline & History
Minimum License Work Commitment Over 5 Years:
- Data evaluation
- Acquire new 2D seismic
- And/or acquire new 3D seismic
- Drill 10,000 meters of new wellbore
- May be drilled vertically, horizontally or diagonally
- May be new wells or deepening or sidetrack of existing wells
Fiscal Terms
- 10% Corporate tax rate
- Sliding scale Royalty starting at 2.5%
- Royalty based on R Factor; 2.5% up to R=1.5 up to max royalty of 25.5% when R>3.0
- 2.5% GOR
- Initial Term of 5 years with 2 two year extensions
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Natural Gas EU Dutch TTF Prices over past 12 months (Source: tradingeconomics.com)
1 TCF (Trillion Cubic Feet) Assessed Natural Gas Resource
Unrisked Gross (100%)
Prospective Gas Resources (BCF)
| Prospective Firmations | Low Estimate | Best Estimate | High Estimate |
|---|---|---|---|
| Macedonka | 66.0 | 260.4 | 491.5 |
| Mogilishte | 64.4 | 312.4 | 757.4 |
| 130.4 | 572.8 | 1,248.9 |
