Trillion Energy Reports Strong Gas Production at SASB Field
Trillion Energy International Inc. (“Trillion” or the “Company”) (CSE: TCF) (OTCQB: TRLEF) (Frankfurt: Z62) has provided an encouraging update on its gas production at the SASB field. The revitalization program has shown remarkable progress, successfully recovering perforation costs in just 35 days.
Overview of the SASB Revitalization Program
The initial phase of the workover involved perforating all gas pay zones on the Akcakoca platform. This included drilling 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 initiative. The phased production began between July 9 and July 28, resulting in a total output of 140 million cubic feet (MMcf) within the first 35 days.
Production Rates and Results
Among the wells, South Akcakoca-2 has proven to be particularly productive, maintaining a steady output of 2.75 MMcf per day over the last 36 days. The Guluc-2 well, after operating for more than three weeks, has recorded an average production rate of 2.0 MMcf/d, stabilizing around 1.25 MMcf/d. Meanwhile, West Akcakoca-1 has averaged 0.60 MMcf/d as it continues to adjust. Although there was initially no gas flow from Akcakoca-3, the well head pressure has shown a promising increase from 100 psi to 478 psi, suggesting that production may start soon.
CEO Insights on Stability and Production Enhancements
CEO Arthur Halleran shared his excitement about the successful start of gas production from the Akcakoca Platform. He remarked, “The completed wells are showing strong production and ongoing improvements in well head pressure. Our early results indicate the field's production potential. The changes in production tubing from 4 ½" to 2 3/8" using velocity strings are expected to improve stability in output rates.”
Stock Option Plan Announcement
In addition to the production updates, Trillion Energy announced that its Board of Directors has approved a stock option plan, which allows 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 aimed at select directors, officers, employees, and consultants of the Company.
About Trillion Energy International Inc.
Trillion Energy International Inc. focuses on oil and natural gas production, with a particular emphasis on assets in Türkiye and Europe. The Company holds a 49% interest in the SASB natural gas field and has a significant stake in the Cendere oil field, along with interests in three oil exploration blocks located in Southeast Türkiye.
Company Contact Information
For more information, please reach out to:
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 highlights the successful gas production from the SASB field and the recovery of perforation costs.
How quickly did Trillion recover its perforation costs?
Trillion Energy managed to recover the perforation costs in just 35 days of production.
What are the production rates of the wells?
South Akcakoca-2 is producing around 2.75 MMcf/d, while Guluc-2 and West Akcakoca-1 have production rates of approximately 1.25 MMcf/d and 0.60 MMcf/d, respectively.
What is the expected future of gas production on the Akcakoca platform?
Ongoing improvements in well head pressure indicate that production rates are likely to stabilize and increase soon.
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 a price of $0.14 each for a five-year term.
