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Looks like some institution liked the latest press release.
Maybe Jed Clampett could find oil in Turkey.
Not a lot to chew on here…
TRILLION ENERGY PROVIDES OPERATIONAL UPDATE
April 8, 2024 – Vancouver, B.C. – Trillion Energy International Inc. (“Trillion”, or the “Company”) (CSE: TCF) (OTCQB: TRLEF) (Frankfurt: Z62) is pleased to provide this operational update for the SASB gas field.
Trillion is starting the SASB revitalization project now as all relevant equipment and supplies for the start of the operations arrive mid-April 2024. As mentioned previously a total of 49 metres of new gas pay will be perforated in Guluc-2, South Akcakoca-2, West Akcakoca-1 and Akcakoca-3 prior to the installation of the artificial gas lift (AL).
Shifting the start of the SASB revitalization project from the end of the 1st Qtr. to the beginning of the 2nd Qtr. was the result of “the only solution is the correct solution”. Previously, the SASB AL program consisted of PCP pumps, ESP pumps and velocity strings. However, with new skilled personnel hired that has changed to predominantly velocity strings for step one and years down the road a water pump installed to prevent future water loading. A velocity string is just a smaller diameter production tubing, as currently the new wells have 4 ½” production tubing and the company will just thread 2 3/8” production tubing inside of the 4 ½” tubing.
Al Thorsen states:
“From my experience, velocity strings are the best solution at this stage of the gas producing wells as velocity strings are cheap to install, relatively simple to operate, have no moving parts and are well suited to high gas producing wells. These wells have large volumes of gas yet to produce and the velocity string is the first step, in the future 5 to 6 years from now when the wells have most of the gas produced, at that time PCP pumps or ESP will be installed to extend the gas producing life of the wells”.
Installing velocity strings requires substantially less capital compared to installing PCPs and is much faster.
Further updates will be provided as SASB’s gas production increases.
No excuses, then. TRLEF should find some oil.
EQUALIZER 2 opening scene, a bad man tells Denzel Washington, "You can find anything you want in Turkey."
Should we read between the lines?
Mrs. Ozge Karalli will no longer be able to fulfill the duties of the CFO as a result of her termination...
Kubilay Yildirim has resigned as a director of Trillion Energy effective immediately.
TRILLION ENERGY ANNOUNCES CFO AND DIRECTOR CHANGE
March 8, 2024 – Vancouver, B.C. – Trillion Energy International Inc. (“Trillion”, or the “Company”) (CSE: TCF) (OTCQB: TRLEF) (Frankfurt: Z62) has announced the appointment of David Thompson as Interim CFO and a search for a permanent Chief Financial Officer (CFO). The Company also announces grant of stock options.
Mrs. Ozge Karalli will no longer be able to fulfill the duties of the CFO as a result of her termination with Park Place Energy, Trillion’s operating subsidiary in Turkey. David Thompson, a director and former CFO of the Company has agreed to act and has been appointed as interim CFO until a new permanent CFO is appointed. Trillion has enacted a transition leadership plan until a permanent CFO is confirmed.
Mr. Thompson has 30 years of financial experience in the international oil and gas industry in the U.S. Europe, Turkmenistan and is managing director of AMS Limited, a Bermuda based management company. He has served as president and CEO of Sea Dragon Energy Inc. (London exchange: SDX), Financial Director of Forum Energy Plc (AIM) and SVP at Larmag Group of Companies. Mr. Thompson is a CPA since 1998.
Kubilay Yildirim has resigned as a director of Trillion Energy effective immediately. The Company intends to commence a search for a replacement director, which it anticipates being completed no later than in time for the next annual general planned for July 2024.
The Company announces it has granted options to acquire a total of 2,450,000 common shares of the Company to its directors, employees, consultants and officers, pursuant to the Company’s 2022 long-term equity incentive plan, at an exercise price of $0.20 per share for three years subject to vesting conditions.
Not a bad day today. Maybe the ol girl has some life in her.
Not a bad day today. Maybe the ol girl has some life in her.
Dispatch: Turkiye's Oil Boom: Trillion's Opportunity Unveiled
Türkiye has achieved a significant milestone in oil production, exceeding 35,000 barrels per day (bpd) in the southeastern Gabar mountain region, the country's state-owned oil company Turkish Petroleum (TPAO) announced Friday.
Highlighting the success of the company's exploration efforts, TPAO said on X: 'We broke the first record of 2024 in oil production at Gabar with 35,061 bpd.'
According to TPAO, increased output originates from 28 operational wells, including newly drilled wells in the Gabar mountain region of Sirnak province.
'Our goal is to reach oil production of 100,000 bpd by the end of 2024. We surpassed the goals we have set, one by one, with the help of our nation, and we keep working relentlessly for Türkiye's energy independence,' TPAO said.
Türkiye's Energy and Natural Resources Minister, Alparslan Bayraktar, revealed in a news briefing on Thursday that the country's oil production in the Gabar region had reached around 33,000 bpd in 27 wells.
This success, stemming from 28 operational wells, underscores Türkiye's significant exploration efforts and commitment to energy independence, TPAO said.
Türkiye's Energy and Natural Resources Minister, Alparslan Bayraktar, revealed in a news briefing on Thursday that the country's oil production in the Gabar region had reached around 33,000 bpd in 27 wells.
Türkiye has intensified its oil and gas exploration activities since 2020, with the Gabar region playing a significant role in these efforts.
The discovery of new reserves in the southeastern area has been instrumental in Türkiye's pursuit of reducing dependency on imported energy resources and in achieving this year’s production level target.
By Sibel Morrow
Anadolu Agency
energy@aa.com.tr
This milestone not only highlights the region's capacity for substantial oil yields but also emphasizes the potential of Trillion Energy's adjacent exploration blocks. As Türkiye aims for 100,000 bpd by end-2024, Trillion's strategic positioning near such prolific reserves presents an exciting prospect for investors, signaling vast untapped resources and a promising future for energy production in the area.
Call the mod-squad............................................................. ''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''' ......................................................................................................
In this week's Trillion Dispatch:
*Crux's Long Awaited Update
*Stock Analysis on Trillion Energy
*Reviving Production & Potential
Unlocking Cash Flows in Türkiye's Hot Gas Market
After months of a long awaited update, Trillion is proud to present our latest interview with Crux Investor.
During this interview, Arthur, CEO of Trillion Energy delves into SASB gas field's operational challenges, and further elaborates on implementing artificial lift technologies to counteract production difficulties stemming from water loading. Arthur also addressed growing concerns about water loading causing lost reserves, in which he responded that the gas is not lost, but simply pushed back into the formation, highlighting the company's proactive measures to manage the situation and maintain resource integrity.
In addition to this, Arthur also dives into expected production from Trillion's existing natural gas wells in its SASB gas field, as well as plans to add 5-6 sidetrack wells to further boost production levels to 20 - 25 million cubic feet per day. Arthur further explored the company's broader vision, touching on the exploration of Trillions oil blocks, current/future project developments, and much more.
The Crux Investor also published an article which serves as a concise summary for shareholders. It covers everything discussed within the interview, which makes this format ideal for shareholders seeking a quick overview rather than full in-depth analysis.
Crux Interview:
Encouraging show of faith. Has President Erdogan bought any shares?
TRILLION ENERGY ANNOUNCES DEBT SETTLEMENT
February 2, 2024 – Vancouver, B.C. – Trillion Energy International Inc. (“Trillion”, or the “Company”) (CSE: TCF) (OTCQB: TRLEF) (Frankfurt: Z62), an oil and natural gas producer in Turkey, announces that it has issued 3,180,000 common shares (each, a "Share") of the Company at a deemed price of $0.20 per Share in settlement of a bona fide debt of $636,000 owed by the Company to its Chief Executive Officer, Arthur Halleran for $546,000, and two directors of the Company for the balance, namely David Thompson and Sean Stofer (the "Debt Settlement"). The Shares are subject to a statutory hold period expiring four months and one day after closing of the Debt Settlement.
The Debt Settlement with 2476393 Alberta Ltd., a company wholly owned by Arthur Halleran, Chief Executive Officer and a director of the Company, David Thompson and Sean Stofer, directors of the Company (the "Insider Settlement"), is considered a “related-party transaction” within the meaning of Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions (“MI 61-101”). The Company has relied on exemptions from the formal valuation and minority shareholder approval requirements of MI 61-101 contained in sections 5.5(a) and 5.7(1)(a) of MI 61-101 in respect of the related party participation in the Debt Settlement based on that the fair market value of such insider participation does not exceed 25% of the Company's market capitalization.
Mr. Halleran, CEO stated:
“When the stock was at $.05 a share in 2020 I converted most of my salary into shares, seeing the bright future for the Company at that time. Today, I am converting all of my past compensation owed to me into shares, seeing the same value opportunity again. I’m all in on Trillion Energy for the long term.”
New interview with Art Halleran on Crux Investor YT channel...
things will get worse in Canada
The Trudeau government has increased annual spending (not including interest payments on its debt) by nearly 75 per cent since 2014, from $256 billion in 2014-15 to a projected $453 billion in 2023-24.
Correct
See why Delta gave me an early package to leave LOL
You mean MSEZ right?..........pretty impressive........
Z
What ever Davos tells them to do or they get cut off.,' weak men running that country now.
You see my MESZ, got a change of control yesterday. Up 30% as Pink Limited.
Sounds like a bunch of Baltic characters.
Did they make Bulgaria kill a bunch of their cows?
Z
Hi Ernie44,
You have any news of USXP?
TRILLION E. TO THE MOOOOOON
closed up a bit..... need a gas well blowout
TRILLION ENERGY APPOINTS NEW CHIEF OPERATING OFFICER
January 22, 2024 – Vancouver, B.C. – Trillion Energy International Inc. (“Trillion”, or the “Company”) (CSE: TCF) (OTCQB: TRLEF) (Frankfurt: Z62) , an oil and natural gas producer in Turkey, is pleased to announce the appointment of Al Thorsen as Chief Operating Officer. As part of his duties, Mr. Al Thorsen will be responsible for the production operations of SASB gas field as well future drilling activities in Turkey and abroad.
Mr. Thorsen will be leading the production enhancement initiatives, with the highest priority being to increase production of the SASB gas wells, including for the five new wells drilled last year, as well as future planned workovers and sidetracks on several older wells. Mr. Thorsen strongly believes in the production capability of the SASB wells as conventional gas reservoirs.
With a proven track record in expanding and leading domestic and international operations, Mr. Thorsen brings a wealth of experience developing and leading large cross-functional teams, consistently achieving robust strategic objectives for high-profile organizations within the energy industry including implementing comprehensive technical solutions.
Highlights of his career include: Valeura Energy Inc. as operations manager in Turkey where he managed 55 employees, 300 natural gas wells and 500 km gas gathering system; Journey Energy, leading a production team where he directed joint ventures and production engineering to 10,000 BOE/d. He has also held positions with Rio Alto Exploration, a 100,000 BOE/d international company as country manager and production manager, Zargon Oil and Gas as VP of Operations, Orleans Energy as VP of Operations, and Central Petroleum as COO.
Mr. Thorsen has substantial experience in Turkey, with artificial lift in an international production environment. He holds a Bachelor of Science in Petroleum Engineering and graduated 1986 from Montana College of Mineral Science & Technology, Butte, Montana.
“I am confident that Mr. Thorsen’s extensive artificial lift and gas production expertise will improve our operational effectiveness accelerating production at the SASB gas field.” said Arthur Halleran, CEO.
TRILLION ENERGY PROVIDES OPERATIONAL UPDATE FOR SASB GAS FIELD
January 18, 2024 – Vancouver, B.C. – Trillion Energy International Inc. (“Trillion”, or the “Company”) (CSE: TCF) (OTCQB: TRLEF) (Frankfurt: Z62) is pleased to provide this operational update and to reiterate its production guidance for the SASB gas field issued on September 25, 2023 subject to revised timing to facilitate evaluation of alternative pump types and installation.
On September 25, 2023, Trillion announced its SASB production guidance for the completion of five new wells and one recompletion completed for the work program ending August 2023. Trillion reiterates this guidance, save and except by pushing the program three months forward, due to receiving pumps, some which require remanufacture of well heads to install. Well heads have been ordered and first deliveries are expected in February 2024.
To address the water loading issue, the Company enlisted the expertise of the third-party engineering firm GLJ last November, 2023. The ensuing comprehensive report highlighting actionable items for the execution of artificial lift and was delivered in December 2023. The Company has now put in motion ordering pumps, wellheads, new well tubing and the like.
Thus, Trillion’s issued production guidance remains steadfast at 7,547 mcf/d before royalties (15.4 MMCF/d 100% Gross interest to lease) for the initial six wells for the 2024 year, with the program execution occurring over the course of the next few months, starting with the four Akcakoca platform wells in Q1 and then the two tripod wells in early Q2.
Moreover, the Company anticipates fitting two or three additional legacy wells with pumps by Q2 for a total of eight + producing wells. Two of the added wells were initially part of the sidetrack program, however, to save cost, are now slated as recompletions instead of new sidetrack drilling. Production from these wells is in addition to the six wells and is not included in the above production estimates.
During the initial drilling program, the initial short term flow test rates for the six wells in question were, 100% interest before royalties: South Akcakoca-2: 7-8.2MMcf/d; Akcakoca-3 7MMcf/d; Alapli-2: 11.9MMcf/d; West Akcakoca-1: 5.9MMcf/d; Bayhanli-2: 11.9MMcf/d and Guluc-2: 16.35MMcf/d.
Trillion Energy is committed to transparency and operational excellence, and we appreciate the ongoing support of our stakeholders as we advance further on our developments within the SASB gas play.
Perforation Program Updates
In October 2023, we successfully reperforated Guluc-2 and West Akcakoca-1 wells. Akcakoca-3’s perforation was deferred due to a snag causing a tool string challenge. The snag issue is now resolved, allowing for perforation of the remaining 6 meters of gas pay. In addition, 10.4 metres of gas pay will be perforated in South Akcakoca-2. Trillion is confident the perforations will increase production significantly in the wells and that both will receive either velocity string tubing (an alternative to pumps) and or pumps upon arrival of the required parts.
Winter in Europe and looks like winter for Trillion Energy. Last update, Art Halleran said cash flow begins late in 2024 and it's money in the bank.
Tough week for Trillion. Natural gas has been on a roller coaster in the US, I wonder if that would be driving this selloff, or just the middle east getting hotter and hotter. Some PR would hit the spot right about now.
Habeeby Dr. BestFishes
TRILLION ENERGY PROVIDES UPDATED SASB 3D SEISMIC WITH NEW STRATIGRAPHIC GAS PROSPECTS
December 20, 2023 – Vancouver, B.C. – Trillion Energy International Inc. (“Trillion”, or the “Company”) (CSE: TCF) (OTCQB: TRLEF) (Frankfurt: Z62) is pleased to announce the completion of its 3D seismic reprocessing for the SASB gas field. The Company is now in the process of interpreting the results and tying the results into the existing drilled wells.
Significant improvements in seismic technology since the initial processing of the 2004 seismic data offer enhanced data imaging for reservoir characterization, faults, and reservoir layers. Additionally, the new PSDM seismic volumes & velocity model has uncovered:
Continuous reflectors
Much clearer fault cuts
Amplitude preservation
Improved imaging of subsurface geology and enhanced results of attributes, inversion, and AVO
Higher quality data, allowing for clear visibility of both previously and newly discovered gas channels, revealing thin sand bodies
Validation of the presence of hydrocarbons using different AVO attributes, such as intercepts, gradients, fluid factors, and gas indicators
Detection of sweet spots for new gas prospects.
Arthur Halleran CEO of Trillion stated:
"In the dynamic landscape of energy exploration, our reprocessed seismic data has unveiled a promising chapter for the SASB gas field. The revelation of extensive channel sands, particularly in the D and De-E zones, surpasses our earlier understanding of the field. This transformative breakthrough marks a clearer and more expansive vision of our gas prospects. The excitement is palpable as we witness the emergence of previously unseen gas-charged sand channels throughout, setting the stage for a future defined by enhanced exploration success."
Images of the new seismic compared to old seismic as well as an in depth overview can be found here:
https://mailchi.mp/trillionenergy/trillions-sasb-seismic-studies-update
TRILLION ENERGY ANNOUNCES CHANGES TO BOARD OF DIRECTORS
December 5, 2023 – Vancouver, B.C. – Trillion Energy International Inc. (“Trillion”, or the “Company”) (CSE: TCF) (OTCQB: TRLEF) (Frankfurt: Z62) announces that, subject to regulatory approval, Jay Park KC has been appointed to the board of directors of the Company. Mr. Park is a renowned energy lawyer with a particular focus on upstream oil and gas transactions. He has worked on energy projects in more than fifty countries, including Turkey. He has advised international energy companies, including oil and gas explorers, producers, marketers, pipeline companies, state oil companies, governments, banks and multilateral agencies such as the World Bank. Mr. Park was formerly CEO (April 2018- September 2020) and then Chairman (September 2020-January 2022) of ReconAfrica (TSXV: RECO) exploring for oil & gas in Namibia and Botswana. During this period ReconAfrica was twice named to the TSX Venture 50 and was the top performing 2021 TSX Venture 50 company from the energy sector. Mr. Park is currently Executive Chairman of MCF Energy Ltd. (TSX.V: MCF) exploring for gas in Europe.
"The petroleum regime of Turkiye is designed to strongly encourage oil & gas exploration, development and production. So, I am excited to join Trillion to participate in the growing opportunities and success in developing these important resources," said Jay Park KC.
Trillion also announces the resignation and retirement of Dr. Barry Wood from its board of directors. Dr. Wood has served Trillion well with his extensive international geological experience and research in reservoir formation, and knowledge formed over decades of exploration across Asia and Africa. The directors and management of Trillion extend their deepest gratitude to Dr. Wood for his contributions to the Company and wish him all the best in his retirement.
Discounted & Misunderstood Story Creates Deep Value Setup
SPECULATIVE BUY - C$0.75 Target Price
High-Level View: Trillion is a Tu¨rkiye-focused producer, with its main development asset being the South Akcakoca Sub-Basin (“SASB”) offshore Black Sea gas field, and a potentially high impact oil exploration opportunity in the southeast part of the country in the Cudi-Gabar region. The team is led by seasoned oilman, Dr. Arthur Halleran, who has over 40 years of experience across various countries and was a founder of Colombia producer Canacol Energy (CNE-TSX, NR). Overall, we believe that if the team can deliver on volumes at SASB, which have been challenged but resolutions are being implemented, the stock will look deeply discounted on valuation with substantial upside for potential for investors today.
Trillion has successfully drilled five new wells and one recompletion well in the SASB field with 100% success rate. As the wells came onstream in Q223, volumes in the field increased by 42% from 5.74 MMcf/d in Q123 to 8.16 MMcf/d in Q223 (100% WI). That said, the Company faced substantial production constraints on two new wells which resulted in volumes being below near-term expectations.
Trillion kicked off a resolution program in Q323 to resolve these issues, which had nothing to do with the rock but with water loading being an issue in the new wells in the Akcakoca field. This resulted in a successful update on October 30, with production increasing to 14.4 MMcf/d (7.056 MMcf/d net to TCF) on a temporary basis, and the Company is looking at installing pumping to get production from the initial six wells to ~15 MMcf/d (gross – expected in Q124). We saw this as a solid update but due to unforeseen challenges at a institution likely involved with the stock, TCF was under substantial undue pressure.
2024. Given the current valuation in the stock, we see this potential as a free option. producers and Trillion can earn-in a 50% WI in three blocks with drilling expected to start in southeast Tu¨rkiye. The Cudi-Gabar region has seen successful exploration results by other Outside of SASB, the Company secured a farm-in opportunity for oil exploration in
Company Thesis: With the recent equity raise of C$10.8M (Echelon led financing), we believe commentary about funding and the 2024 capital program misplaced. Trillion has flexibility on the program, mainly from how many exploration wells at Cudi-Gabar (we are currently forecasting one well in 2024) On our 2024 forecast on strip pricing, we see funds flow of $30.1M and with the raise, we believe the Company is in solid position to execute on a forecasted $29M capital program. That said, we do believe that continued success on rampingup production from the current wells will be key to making this funding go around but given the recent success we believe management is on track to deliver.
Valuation: Given the issues around Q223 production and the market anomaly impacting the stock in late October, Trillion has given a lot back in valuation. Currently, we see a great riskreward setup in TCF, with our 2024 valuation standing at 1.3x EV/DACF and a substantial discount to our 2P NAVPS of C$2.24. With that, we are initiating on Trillion with a Speculative Buy rating and C$0.75 price target for a 159% return potential based on a 2.5x 2024 target multiple. We highlight key milestones that would support a more aggressive PT range of $0.95-$1.25 on page 5. Given that we have already seen some success on the SASB turnaround, we believe that hitting 15 MMcf/d at SASB and solid Q124 on volumes will be a key catalyst for the market, and if successful, we believe that TCF will recoup that valuation deterioration over H223.
To view the full coverage on Trillion Energy, click the button below:
https://mcusercontent.com/5e269838a16742a97c90596c2/files/ea742003-22e9-0c15-20e0-590e5bf36c28/tcf11282023.01.pdf
I like that.
I'm sticking with Trillion through this bear market. I think the company is going through some tough times with the NG price, although the USA us much cheaper than Europe. I think the energy crisis there will last and the pain is yet to hit them. That, plus any potential oil discovery should be what Trillion needs for a large exit or to get some respect from markets.
Insiders bought $164,499.90 which is 1-1/2% of the new shares.
Insiders bought $164,499.90 which is 1-1/2% of the new shares.
TRILLION ENERGY ANNOUNCES CLOSING OF $10.8 MILLION MARKETED PUBLIC OFFERING
November 28, 2023 – Vancouver, B.C. – Trillion Energy International Inc. (“Trillion”, or the “Company”) (CSE: TCF) (OTCQB: TRLEF) (Frankfurt: Z62) is pleased to announce that, further to the Company's press releases dated November 9, 2023 and November 10, 2023, it has closed its previously announced best efforts marketed public offering of common shares (the "Offering"). Pursuant to the Offering, the Company issued and sold a total of 36,057,934 common shares ("Common Shares") at a price of $0.30 per Common Share for gross proceeds of approximately $10,817,380, including the partial exercise of the over-allotment option. The Offering was conducted pursuant to an agency agreement with Echelon Wealth Partners Inc. (the "Agent") as sole agent and bookrunner.
The net proceeds from the Offering will be used to fund a portion of the Company’s 2023-2024 capital programs, the payment of certain accounts payable related to the drilling at SASB, repayment of loans, and for general working capital purposes.
The Company filed a final short form prospectus (the "Prospectus") in all provinces of Canada, except Québec, pursuant to National Instrument 44-101 – Short Form Prospectus Distributions to qualify for distribution the Common Shares offered pursuant to the Offering. Copies of the Prospectus and documents incorporated by reference therein are available electronically on SEDAR+ (www.sedarplus.ca).
Certain insiders of the Company participated in the Offering and subscribed for an aggregate of 548,333 shares for gross proceeds of $164,499.90 (the “Insider Subscriptions”). The Insider Subscriptions constitute “related party transactions” within the meaning of Multilateral Instrument 61-101 –Protection of Minority Securityholders in Special Transactions (“MI 61-101”). The Company is relying on the exemption from valuation requirement and minority approval pursuant to subsection 5.5(a) and 5.7(a) of MI 61-101, respectively, for the insider participation in the Offering, as the securities do not represent more than 25% of the Company’s market capitalization, as determined in accordance with MI 61-101. The Corporation did not file a material change report more than 21 days before the closing of the Offering as required by MI 61-101 as the details of the participation by the insiders in the Offering were settled only recently.
Art Halleran CEO stated:
“We are pleased to have successfully closed our financing and would like to express our appreciation to the markets and our supportive shareholders. Our focus now will be on producing positive results in our production focused operations over the short term to create long-term value for shareholders.”
This news release does not constitute an offer to sell or a solicitation of an offer to sell any of securities in the United States. The securities have not been and will not be registered under the U.S. Securities Act or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
TRILLION ENERGY PROVIDES OPERATIONAL UPDATE
November 27, 2023 - Vancouver, B.C. - Trillion Energy International Inc. (“Trillion” or the “Company”)(CSE: TCF) (OTCQB: TRLEF) (Frankfurt: Z62) is pleased to provide an operational update for the SASB gas field. The Company is holding a workshop in Ankara, Turkey between December 4 and 8th the subject being boosting production from its existing six wells as well as the 2024 work program planning.
The Company has received a report from Frontier Project Solutions, a Calgary based engineering company founded in 1977, to assist in facilitating artificial lift solutions to curtail water loading issues. Frontier has over 50 years of hands-on experience with well pumps, how to install them and where to procure these items in a fast and timely manner. Initially 2 to 3 different artificial lift solutions will be implemented starting with the Akcakoca platform.
2024 Work Program Updates
The next phase of SASB development includes bringing on production from 5 additional wells next year bringing the total producing wells to 11, targeting gas reserves in existing wells on the three tripods. Preliminary indications suggest that at least two of the future sidetrack wells would benefit from artificial lift and may not have to be re-drilled. Artificial lift would result in an 85% cost savings over redrilling representing a savings net to Company of about US$4 million per well. The other proposed sidetracks are also being evaluated for cost savings.
In addition to SASB, the Company receives about US $300,000 per month from the Cendere oil field.
Nice, some bills will be paid and aggressive development can forge ahead. Hydro carbon prices are expected to remain high throughout 2024. PPS should return to levels seen before this dumping from the Canadian hedge fund fraudster. Looks like his days came to an abrupt close.
Glad to see you read Mises. Smart man.
TRILLION ENERGY ANNOUNCES $10 MILLION MARKETED PUBLIC OFFERING
November 9, 2023 - Trillion Energy International Inc. (CSE: TCF) (OTCQB: TRLEF) (FSE: Z62) ("Trillion", or the "Company") is pleased to announce that it has filed a preliminary short form prospectus with the securities commissions or similar regulatory authorities in each of the provinces of Canada, other than Quebec (the "Canadian Jurisdictions"), in connection with a best efforts marketed public offering (the "Offering") of common shares (the "Common Shares") of the Company for gross proceeds of up to $10 million. In connection with the Offering, the Company intends to provide a president's list of purchasers for up to $3 million (the "President's List").
The Offering will be conducted by Echelon Wealth Partners Inc. ("Echelon") as lead agent and sole bookrunner, and is subject to customary closing conditions, including the approval of the securities regulatory authorities and the Canadian Securities Exchange (the "CSE").
The Offering will be completed (i) by way of a short form prospectus to be filed in the Canadian Jurisdictions; and (ii) on a private placement basis in the United States pursuant to exemptions from the registration requirements of the United States Securities Act of 1933, as amended (the "U.S. Securities Act"); and (iii) outside Canada and the United States on a basis which does not require the qualification or registration of any of the Company's securities under domestic or foreign securities laws.
Trillion intends to use the net proceeds from the Offering to fund its 2023-2024 capital program, the payment of certain accounts payable related to the drilling at SASB, and for general working capital purposes.
The Offering is expected to close on or about November 24, 2023, or such other date as the Company and Echelon may agree.
The ultimate size and price of the Offering will be determined in the context of the market.
The Company has granted Echelon an option to purchase up to an additional 15% of the Common Shares sold under the Offering, at the Issue Price. The Over-Allotment Option may be exercised in whole or in part to purchase Common Shares as determined by Echelon upon written notice to the Company at any time up to 30 days following the closing date of the Offering (the "Over-Allotment Option").
The preliminary short form prospectus is available on SEDAR+ at www.sedarplus.ca.
This news release does not constitute an offer to sell or a solicitation of an offer to sell any of securities in the United States. The securities have not been and will not be registered under the U.S. Securities Act or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
Existing shareholders who would like to participate are encouraged to contact the company at info@trillionenergy.com with indications of interest.
LAST BID was 33
then it was halted...................maybe had to circle the wagons .....fearing an attack by Indians
der I vas surrounded by da Cherrokeeses indianz, vat a poor guy, beink US guy
This is incredible. I assumed the drop was due to Erdogan's statements about Israel/Palestine since it was during the same week last week.
reason for recent dump was a bankrupt fund!
not complaining about bought shares at MC = 7x monthly rev.. talk about cheap
https://www.bnnbloomberg.ca/hedge-fund-executive-s-sudden-death-exposes-a-firm-deep-in-trouble-1.1993169.amp.html" rel="nofollow" target="_blank" >https://www.bnnbloomberg.ca/hedge-fund-executive-s-sudden-death-exposes-a-firm-deep-in-trouble-1.1993169.amp.html
https://finance.yahoo.com/news/hedge-fund-executive-sudden-death-153055194.html" rel="nofollow" target="_blank" > https://finance.yahoo.com/news/hedge-fund-executive-sudden-death-153055194.html
Trillion Energy may help offset Turkey's inflation https://mises.org/wire/turkey-sustaining-major-inflation-something-has-give
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