Trillion Energy Progresses Revitalization of Turkiye Gas Field

Trillion Energy International Inc. has reported that the revitalization program of its SASB field in Turkiye is “off to a great start”.

The program has realized the complete payback of recent perforation costs in just 35 days of production, Trillion said in a news release.

In the first phase of the workover, all the remaining gas pay on the Akcakoca platform was perforated including three long reach deviated gas wells Guluc-2, South Akcakoca-2, West Akcakoca-1 wells and the recompleted legacy well Akcakoca-3. The wells started production over a staggered period from July 9 to July 28 and have already produced 140 million cubic feet (MMcf), representing a 35-day payoff of the recent perforation capital expenditures, the company said.

South Akcakoca-2 has been producing for 36 days, stabilizing at approximately 2.75 MMcfpd. Guluc-2 has produced for over three weeks with an average production of 2.0 MMcfpd and now produces at a stable rate of about 1.25 MMcfpd, according to Trillion.

Further, West Akcakoca-1 has produced an average of 0.60 MMcfpd for over two weeks with some irregularities and has not yet stabilized. Akcakoca-3 was perforated and although gas flow did not initially occur the well head pressure (WHP) has steadily increased from 100 psi to 478 psi and is therefore anticipated to start producing soon.

Trillion noted that gas production from the Akcakoca Platform has averaged 4.6 MMcfpd since the perforation program was completed.

CEO Arthur Halleran said, “The wells on the Akcakoca Platform have been completed successfully with gas production and WHP continuing to increase. This early return on our investment is a clear indicator of the field’s robust production potential. The results are very positive, giving us good indications that decreasing the production tubing size from 4 ½” to 2 3/8” using velocity strings, should stabilize gas production at the targeted rates”.

Meanwhile, Trillion’s board has authorized the granting of stock options to purchase 8,800,000 common shares of the company at an exercise price of CAD 0.14 per share for a five-year term expiring August 12, 2029. The stock options are being granted to certain directors, officers, employees and consultants of the company.

Trillion announced in July that its well intervention program at the SASB gas field in Turkiye was successful. The company started its operations program at the SASB gas field in May. The field is in the Black Sea offshore Turkiye.

Trillion Energy is focused on oil and natural gas production for Europe and Türkiye with natural gas assets in Türkiye. The Company is 49 percent owner of the SASB natural gas field, a Black Sea natural gas development and a 19.6 percent interest in the Cendere oil field.

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