Trillion Energy's SASB Gas Field Production Boosts Returns
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Trillion Energy Reports Strong Gas Production at SASB Field
Trillion Energy International Inc. (“Trillion” or the “Company”) (CSE: TCF) (OTCQB: TRLEF) (Frankfurt: Z62) has shared a positive update regarding its SASB gas field production. The revitalization program has demonstrated exceptional progress, achieving full recovery of perforation costs in just 35 days.
Overview of the SASB Revitalization Program
The initial phase of the workover included the perforation of all gas pay zones on the Akcakoca platform. This encompassed the drilling of three long-reach deviated gas wells—Guluc-2, South Akcakoca-2, and West Akcakoca-1—along with the recompletion of the legacy well Akcakoca-3, which was part of the 2022/2023 drilling program. The phased production initiation commenced between July 9 and July 28, leading to a cumulative output of 140 million cubic feet (MMcf) within the first 35 days.
Production Rates and Results
South Akcakoca-2 has proven to be particularly productive, delivering a consistent output of 2.75 MMcf per day over the past 36 days. The Guluc-2 well, after more than three weeks of operation, has shown an average rate of 2.0 MMcf/d and is stabilizing around 1.25 MMcf/d. Meanwhile, West Akcakoca-1 has averaged 0.60 MMcf/d as it continues to adjust. Although initial gas flow from Akcakoca-3 was absent, the well head pressure shows a promising increase from 100 psi to 478 psi, indicating an upcoming production start.
CEO Insights on Stability and Production Enhancements
CEO Arthur Halleran expressed his enthusiasm regarding the successful initiation of gas production from the Akcakoca Platform. He noted, “The completed wells are demonstrating strong production and continuous improvement in well head pressure. Our early returns signify the potential for the field's production capability. The adjustments in production tubing from 4 ½" to 2 3/8" utilizing velocity strings are expected to enhance stability in output rates.”
Stock Option Plan Announcement
In addition to production updates, Trillion Energy has revealed that its Board of Directors has approved a stock option plan, allowing for the purchase of 8,800,000 common shares at an exercise price of $0.14 for a five-year term expiring on August 12, 2029. This grant is intended for select directors, officers, employees, and consultants of the Company.
About Trillion Energy International Inc.
Trillion Energy International Inc. is dedicated to oil and natural gas production, focusing on assets in Türkiye and Europe. The Company holds a 49% interest in the SASB natural gas field and possesses a significant stake in the Cendere oil field, along with interests in three oil exploration blocks in Southeast Türkiye.
Company Contact Information
For further information, please contact:
Arthur Halleran, Chief Executive Officer
Brian Park, Vice President of Finance
1-778-819-1585
Email: info@trillionenergy.com
Website: www.trillionenergy.com
Frequently Asked Questions
What is the update from Trillion Energy about?
The update discusses the successful production from the SASB gas field and the financial recovery from perforation costs.
How quickly did Trillion recover its perforation costs?
Trillion Energy recovered the perforation costs in just 35 days of production.
What are the production rates of the wells?
The South Akcakoca-2 well is producing approximately 2.75 MMcf/d, while Guluc-2 and West Akcakoca-1 have production rates of about 1.25 MMcf/d and 0.60 MMcf/d respectively.
What is the expected future of gas production on the Akcakoca platform?
Continuous improvements in well head pressure suggest that production rates are likely to stabilize and increase in the near future.
Does Trillion Energy have any stock option plans?
Yes, the Company has approved a stock option plan for the purchase of 8,800,000 common shares at $0.14 each for a five-year term.
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