Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Trillion Energy International to present at the Virtual Investor Conference this Thursday 10/19/2023 11:30AM - 12:00PM EST
Registration is free and you can watch recordings of the presentation if you cannot attend live. You can submit questions ahead of time or in real-time during the presentation. You can even schedule meetings with the companies presenting. I'm hoping to make it live and ask questions, but if I cannot attend live I am hoping some tough questions are asked.
https://www.virtualinvestorconferences.com/events/event-details/oil-gas-virtual-investor-conference-0
We better get a weekly update with some serious progress on the optimization of the gas wells. This thing has been bombs-away since the split. I'm starting to think things aren't going well?
I still believe nat gas will have more demand this fall/winter. Here's more evidence of a global squeeze in the making.
https://www.cnn.com/2023/10/10/energy/israel-gas-field-shutdown-explainer/index.html
Do ya'll actually believe in the product this company makes?
Do ya'll actually believe in the products that this company makes?
New podcast episode of Financial Survival Podcast with Regenx as the guest. Short but sweet.
https://www.financialsurvivalnetwork.com/2023/09/regenx-americas-newest-platinum-palladium-urban-miner-declares-production/
I hopped in at $0.70 today, considering it a lotto ticket.
Ouch. Quite the romp today. Markets don’t generally respond well to the ol RS huh.
Definitely makes me want to leeeever up.
TRILLION ENERGY INTERNATIONAL ANNOUNCES SHARE CONSOLIDATION AND CONDITIONAL LISTING APPROVAL FOR THE TSX VENTURE EXCHANGE
GlobeNewswireSeptember 14, 2023
Vancouver, BC, Sept. 14, 2023 (GLOBE NEWSWIRE) -- Trillion Energy International Inc. ("Trillion", or the "Company") (CSE: TCF) (OTCQB: TRLEF) (Frankfurt: Z62) wishes to announce that it intends to proceed with a consolidation of its outstanding common shares ("Common Shares") on the basis of five (5) pre-consolidation Common Shares for one (1) post-consolidation Common Share (the "Consolidation"). Any resulting fractional Common Share that is held by a holder of Common Shares will be cancelled, and the aggregate number of Common Shares held by such holder will be rounded down to the nearest whole number of Common Shares.
Currently, a total of 389,677,325 Common Shares are issued and outstanding. Accordingly, when the Consolidation is put into effect, a total of approximately 77,935,465 post-Consolidation Common Shares would be issued and outstanding, assuming there are no other changes in the issued capital of the Company. All outstanding convertible instruments (including convertible debentures, options and warrants) will be adjusted on the equivalent ratio of the Consolidation.
The Board of Directors believes that the proposed Consolidation will better position the Company to attract additional institutional investors into the Company that have a base floor price for investments. There is no name change in conjunction with the Consolidation, and the Company's trading symbol will remain the same. The Company expects its post-Consolidation Common Shares to commence trading on the Canadian Securities Exchanges ("CSE") at the open of markets on September 18, 2023. The new CUSIP for the post-Consolidation Common Shares is 89624B302 and the ISIN for the post-Consolidation Common Shares is CA89624B3020.
As a result of the Consolidation, the Company's trading symbol on the OTCQB will temporarily change to "TRLED" for 20 trading days by FINRA.
TSX Venture Exchange
The Company is pleased to announce that it has received conditional approval (the "Conditional Approval") to list on the TSX Venture Exchange (the "TSXV"). The Conditional Approval remains subject to certain conditions that the Company intends to satisfy in due course. Accordingly, a date for the listing of the common shares of the Company on the TSXV has not been set. The Company expects to continue to trade under the ticker symbol "TCF". Management of the Company believes that a listing on the TSXV, one of the world's largest global public venture markets, will benefit the Company by giving it exposure to a larger audience of retail and institutional investors.
Arthur Halleran CEO stated:
"It is our firm view that achiving a higher stock price through a share consolidation will help us expand out institutional investor base. Subsequent to the rollback, we will be roadshowing the Company to institutions in both Canada and Europe. We believe our strong future rests on our core assets and from investors seeking exposure to european gas markets."
About
Trillion is an oil and gas producing company with multiple assets throughout Turkiye. The Company is 49% owner of the SASB natural gas field, one of the Black Sea's first and largest-scale natural gas development projects; a 19.6% (except three wells with 9.8%) interest in the Cendere oil field; and three oil exploration blocks located in Cudi-Gabar Oil Petroleum Province, SE Turkiye. More information may be found on www.sedar.com, and our website.
Contact
Offices: 1-778-819-1585
e-mail: info@trillionenergy.com
Website: www.trillionenergy.com
Forward-Looking Information
Certain information in this news release may constitute forward-looking information. This information is based on current expectations that are subject to significant risks and uncertainties that are difficult to predict. Actual results might differ materially from results suggested in any forward-looking statements. Forward-looking information includes, but is not limited to, statements about future transactions, any anticipated benefits as a result of the Consolidation, the completion of the Consolidation, and the completion of the listing on the TSXV. Forward-looking information is necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking information. Trillion assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those reflected in the forward looking-statements unless and until required by securities laws applicable to Trillion. Additional information identifying risks and uncertainties is contained in Trillion filings with the Canadian securities regulators available at www.sedar.com.
I share your sentiment. And with Peru not being favorable jurisdiction, I have lost a bit of confidence. They need some monster drill holes to get attention.
I hopped in at 4.50 and looking to average down along with a watchlist that has been tanking! Let’s go brandizzy
Interesting developments about the LNG strike...
https://www.cnbc.com/2023/09/08/gas-european-prices-jump-as-strikes-start-at-australia-lng-facilities.html
European gas prices moved sharply higher Friday as workers at Chevron’s Australian natural gas facilities went on strike, prompting fears that a prolonged halt to production could squeeze global supplies.
The industrial action at the Gorgon and Wheatstone projects in Western Australia follow daily talks this week to try to come to an agreement. The negotiations ultimately failed, however, to resolve a long-running dispute over pay and job security.
At present, no further talks are scheduled to take place between U.S. energy giant Chevron
and the unions representing workers at the liquified natural gas projects.
Work stoppages of up to 11 hours are scheduled to continue through to Thursday, at which point the action is poised to ramp up to a total strike of two weeks.
The front-month gas price at the Dutch Title Transfer Facility (TTF) hub, a European benchmark for natural gas trading, was last seen trading around 10% higher at 36 euros ($38.50) per megawatt hour.
“Unfortunately, following numerous meetings and conciliation sessions before the Fair Work Commission, we remain apart on key terms,” a spokesperson for Chevron Australia said. The Fair Work Commission refers to Australia’s independent workplace relations tribunal, which had been mediating the talks.
Chevron Australia added that the unions sought terms it believed to be “above and beyond” equivalent terms with others in the industry, without offering further details.
Fears of strike action in Australia, one of the world’s biggest exporters of LNG, have recently pushed up European gas prices — and analysts expect near-term market volatility to persist.
European gas prices rose to around 43 euros last month but had pared gains as the two sides sought an amicable resolution. The TTF contract remains well below last summer’s extraordinary spike to more than 300 euros.
“Chevron are demanding they be given special concessions in bargaining – a demand which we have put through the shredding machine,” the Offshore Alliance said in a Facebook post Friday. Offshore Alliance is the union alliance representing workers at Chevron’s Gorgon and Wheatstone gas operations.
“Their bargaining performance has been the most inept effort of any employer the Union has dealt with in the past 5 years and our members have had enough,” the group added. “It’s game on, Chevron.”
It is understood that Chevron has taken steps to maintain operations in the event of any disruptions to its facilities.
What’s the news, did Jerry step down? Or is this getting a boost with all weed stocks because of the feds trying to reschedule pot from 1 to 3
Covid projections were incredibly big too... I prefer to buy on performance and value rather than projections. Projections are too easy to fudge, manipulate, or get just plain wrong because there are too many variables in the world. Anyways, I might get a small bit of skin in this game just to speculate in the scam industry. Katusa recorded a zoom interview with the dipsh!t CEO and ripped him a new one mostly for all of the G&A spending. Really made Cochrane look stupid. Then I did a bit of internet digging and found other interviews with Cochrane and he just seems like a hip young salesman who says the right dei buzz words and modern acceptable language. Maybe that's where the world is going and I'm out of touch.
my vote is for classic view. public reply is strange, maybe improve this feature of beta version.
Part of me wants an entry into carbon streaming just because of katusa’s recommendation. But a bigger part of me does not see value in this industry. Carbon credits, cap and trade, carbon offsetting - whatever you want to call is screams SCAM to me. What am I missing here? The climate doomers surely won’t prevail, right?
Trillion Energy Announces Second Quarter-June 30 2023 Results
August 23, 2023 - Vancouver, B.C. - Trillion Energy International Inc. (“Trillion” or the “Company”) (CSE: TCF) (OTCQB: TRLEF) (Frankfurt: Z62) is pleased to announce its financial results for the three and six month periods ended June 30, 2023 and an operational update on efforts to increase production from the six SASB gas wells.
President & CEO, Arthur Halleran commented:
“After successfully completing six wells, our focus now turns to maximizing production of the wells targeting paridy with historical production rates, through system tweeks and other means of resolving production bottlenecks. We have now engaged a third party provider to provide a quotation and recommendations for increasing production from the six wells. The important takeaways will provide guidance for standard operating procedures in the next phase of SASB gas wells.”
Operational Update
Trillion has now drilled five successful long-reach directional wells and one re-completion at SASB and will continue to take steps to optimize production. To increase production, Trillion has contracted a service provider to present recommendations for a slimhole ESP (electric submersible pump), power cables, pump control surface equipment and electric power supply for West Akcakoca-2 and Akcakoca-3. At the end of August pump selection will be made. Reperforation of South Akcakcoa-2 will occur around the same time followed by Guluc-2.
Trillion’s focus is on increasing production on the existing six wells to match production rates previously achieved from the eight legacy wells. We believe that past production history is a useful analog for predicting future production trends and results. To predict future production at the three tripod gas fields (Akkaya, East Ayazli and Ayazli), past production profiles were evaluated and assumed to represent a middle case for Trillion’s five newly drilled wells and the one re-completion. The historic tripod production (commencing 2007) averaged 15.4 MMcf/d for 34 months (gross), after which production went into a hyperbolic decline and averaged a daily production of 12.95 MMcf/d for the next 12 months and averaged a daily production of 6.88 MMcf/d for the following 12 months, and 4.1 MMcf/d for the next 12 months and then continued for many more years at >2 MMcf/d.
Financial and Operating Highlights – Second Quarter of 2023
Gross gas production to Trillion for the SASB gas field averaged 8.16MMcf/d (100% interest) in Q2 2023, an increase of 2.42MMcfd (+42%) compared to Q1 2023 (5.74 MMcfd).
By the end of Q2 2023, the Company had 5 producing wells and a combined average total daily Q2 2023 production rate of 8.16 MMcf/d (100% interest). Each well produced for an average of 1.5 months during the quarter.
Total Q2 2023 revenue of US $5.8 million (C$7.8 million), an increase of 288% from Q2 2022.
Natural gas prices averaged US $13.11 effective for all natural gas sales between April 1, 2023, to June 30, 2023, compared to $21.66 in Q1 2023 (-39%).
Operating income of US$613,232 for the three months ended June 30, 2023, compared to an operating loss of $616,660 for the three months ended March 31, 2022.
For the 3 months ended June 30, 2023, oil and gas capital expenditures totaled US $12.2 million, net of JV contributions, including well costs for Bayhanli-2 and Alapi-2 wells, seismic reprocessing costs and long-lead purchases. Wells costs for Alapli-2 are included, but production of this well does not start until Q3 2023.
The Company closed a convertible debenture financing for gross proceeds of C$15 million (~US$11 million).
During Q2 2023, the Company completed and put into production the Bayhanli-2 well with initial gross flow rates of 8MMcf/d to 9MMcf/d. The Company also spud the Alapi-2 well in June 2023, which was put on production in Q3 2023 (August 2023), at an initial gross rate of 8.7 MMcf/d.
The following table provides a summary of Trillion's financial and operating results for three and six months ended June 30, 2023 and June 30, 2022. The consolidated financial statements with the Management's Discussion and Analysis ("MD&A") are available on our website at www.trillionenergy.com and will be available on the SEDAR+ website at www.sedarplus.ca.
I didn’t post the tables because they don’t copy/paste clearly. Check out the full report on sedar.
Article on the potential Aussie LNG worker strike.
https://www.bloomberg.com/news/articles/2023-08-21/european-gas-prices-soar-on-australia-lng-workers-ultimatum
I hear ya. I’m looking for my entry point on odv. Feel a little burned by katusa on groy, but I like the model there so I’ll be holding a long time. Being more careful with this one. Carbon streaming might take a position in as well but I’m waiting for that to find rock bottom. Seems like there’s no stopping it’s crash
Just an opinion.
Going to potentially become a generational buying opportunity
If it breaks $1 I'm getting in.
Interview with Art on Crux Investor youtube channel. Recorded 8/4/2023.
This article explains it. 40% jump in European gas price
https://www.zerohedge.com/energy/european-natgas-prices-explode-40-higher
Is Turkish gas pricing correlated that closely with the US price?
Nice little pop this morning on the news. Hopefully it can stick
RespireRx Pharmaceuticals Inc. and ResolutionRx Ltd Enter into Bilateral Agreements to Establish ResolutionRx Ltd as an Operating Company
GlobeNewswireAugust 09, 2023
Glen Rock, N.J., Aug. 09, 2023 (GLOBE NEWSWIRE) -- RespireRx Pharmaceuticals Inc. (OTC. Pink Market: RSPI) ("RespireRx"), focused on the discovery and development of innovative and revolutionary treatments to combat diseases caused by disruption of neuronal signaling, and ResolutionRx Ltd ("ResolutionRx"), an unlisted public Australian company, (Australian Company Number or ACN: 664 925 651) and a subsidiary of RespireRx (collectively referred to as the "Companies") are pleased to jointly announce that on August 3, 2023, the Companies have entered into a series of bilateral agreements intended to transfer the RespireRx pharmaceutical cannabinoid program to ResolutionRx and establish it as an operating company.
License Agreement. The Companies entered into a License Agreement (the "License Agreement") in which RespireRx licensed to ResolutionRx the Intellectual Property ("Licensed IP" as defined in the License Agreement) including Patent Rights as defined in the License Agreement. The License Agreement is an exclusive, worldwide and royalty-free license to use and exploit the Licensed IP associated with new dronabinol formulations initially to be developed for the treatment of obstructive sleep apnea and in connection with ResolutionRx's business and operations, including commercial and non-commercial purposes, with the exception that RespireRx shall have the exclusive right to use the technology described in the Licensed IP for non-cannabinoid products.
Sublicense Agreement. The Companies entered into a Sublicense Agreement (the "Sublicense Agreement") in which RespireRx, as sublicensor, sublicensed the rights to its Exclusive License Agreement with The Board of Trustees of the University of Illinois, a body corporate and politic of the State of Illinois ("University" or "Overlicensor"), effective June 27, 2014 (the "Original License") as amended via a certain letter amendment, effective August 2, 2017 (the "Letter Amendment") and a certain Second Amendment to RespireRx-University of Illinois Exclusive License Agreement, effective December 15, 2022 (the "Second Amendment," and collectively with the Original License and Letter Amendment, the "Exclusive License"), pursuant to which University has granted to RespireRx certain rights and licenses. The Exclusive License permits the sublicensor to grant written sublicenses of its rights under the Exclusive License. The Sublicense is essentially a direct pass-through of all of the rights and obligations associated with the Exclusive License to ResolutionRx as sublicensee from RespireRx as sublicensor.
Stock Transfer Agreement. In consideration for the License and Sublicense, ResolutionRx issued 25,000,000 Ordinary Shares of ResolutionRx to RespireRx pursuant to a stock transfer agreement plus the payment of US$1 to RespireRx.
Master Intercompany Services Agreement. The Companies have entered into a Master Intercompany Services Agreement ("MISA") in which RespireRx agrees to perform certain support activities in the form of both general and administrative and research and development support in the execution of the business operations of ResolutionRx. RespireRx will provide the Services as set forth in the MISA on an ongoing basis as well as such further services as ResolutionRx and RespireRx may specifically agree upon from time to time. The initial term of the MISA is from August 3, 2023 for two years. The MISA automatically renews for successive one-year periods unless ResolutionRx gives written notice to RespireRx of its intent not to renew at least ninety days prior the end of the initial term or any renewal term. RespireRx will invoice ResolutionRx for the services to be performed on a quarterly basis (based on the fiscal year of ResolutionRx) with such invoices to be issued, in advance, for services to be rendered in the quarter following the date of each such invoice.
Pricing of Securities Offering of Series A Preference Shares by ResolutionRx. As previously described in several filings with the Securities and Exchange Commission, ResolutionRx entered into a Letter of Intent ("LOI") with Cantheon Capital ("Cantheon") on May 18, 2023 that describes an intended investment of US$3,125,000 in Series A Preference Shares to be issued by ResolutionRx. According to the LOI, the issuance price was designated to be US$0.90 per Series A Share, which assumes 90% of a US$25 million maximum value for the net assets provided by RespireRx to ResolutionRx and is subject to adjustment downward, but not upward, based upon the result of the independent valuation. Similarly, on May 22, 2023, ResolutionRx entered into a non-exclusive mandate agreement with PrimaryMarkets, an Australian financial advisor engaged to undertake a fund raising for ResolutionRx in Australia on substantially the same terms (except in Australian dollars) as the LOI with Cantheon, with final pricing determined after receipt of an independent valuation. Effective May 22, 2023, RespireRx entered into an engagement agreement for an independent valuation. RespireRx received the independent valuation analysis on August 7, 2023 and is now able to establish the initial price for the Cantheon LOI and for the PrimaryMarkets offering and that price is now established to be a per Series A Preference Share equivalent of 90% of a US$25 million value as described above, or US$22.5 million, which is the maximum price permitted pursuant to the Cantheon LOI and the PrimaryMarkets term sheet.
"Since the incorporation of ResolutionRx at the beginning of this year, it has been our intention to restructure RespireRx by creating a fully operational, cannabinoid drug research and development entity in Australia that will have adequate capital to conduct its strategic and operational plans," said Jeff Margolis, Co-Chief Executive Officer and Senior Financial Officer, ResolutionRx and Chief Financial Officer of RespireRx. Arnold Lippa, Co-CEO and Chief Scientific Officer ("CSO") of ResolutionRx and CEO, President and CSO of RespireRx added, "Our established relationships with our Australian based law firm, our commercial bank, our Australian based accountants and financial advisory firm as well as the previously announced term sheet and letter of intent for a debt facility to be provided by Radium Capital to finance 80% of ResolutionRx's anticipated 43.5% of the Australian research and development tax incentive, and the previously disclosed letter of intent with Cantheon Capital have guided us to a pathway. Our service agreements with RespireRx and iNGENu will provide the needed infrastructure for operations that have recently begun. Finally, the receipt of an independent valuation analysis has enabled us to establish the price for the Cantheon letter of intent and for the PrimaryMarkets offering at US$0.90 per Series A Share, equivalent to 90% of a US$25 million maximum negotiated value. We believe that these developments confirm our restructuring strategy to realize the intrinsic worth of our assets and, in turn, increase shareholder value. We look forward to beginning this new path."
Not a Securities Offering or Solicitation
This communication shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sales of securities in any jurisdiction in which such offer, solicitation or sale of securities would be unlawful before registration or qualification under the laws of such jurisdiction.
About RespireRx Group
RespireRx Pharmaceuticals Inc. and its subsidiaries and business units ("RespireRx Group") are discovering and developing medicines for the treatment of psychiatric and neurological disorders, with a focus on treatments that address conditions affecting millions of people, but for which there are few or poor treatment options, including obstructive sleep apnea ("OSA"), attention deficit hyperactivity disorder ("ADHD"), epilepsy, pain, recovery from spinal cord injury ("SCI"), and certain neurological orphan diseases . The RespireRx Group is developing a pipeline of new and repurposed drug products based on our broad patent portfolios for two drug platforms: (i) pharmaceutical cannabinoids, which include dronabinol, a synthetic form of D9-tetrahydrocannabinol ("D9-THC") that acts upon the nervous system's endogenous cannabinoid receptors and (ii) neuromodulators, which include AMPAkines and GABAkines, proprietary chemical entities that positively modulate (positive allosteric modulators or "PAMs") AMPA-type glutamate receptors and GABAA receptors, respectively.
The RespireRx Group holds exclusive licenses and owns patents and patent applications or rights thereto for certain families of chemical compounds that claim the chemical structures and their uses in the treatment of a variety of disorders, as well as claims for novel uses of known drugs.
ResolutionRx: Pharmaceutical Cannabinoids.
ResolutionRx Ltd (Australian Company Number a/k/a ACN 664 925 651) was formed in Australia on 11th January 2023 by RespireRx as an unlisted public company. RespireRx has contributed by sublicense and license with ResolutionRx, its cannabinoid drug development program subject to certain liabilities. ResolutionRx will now engage in the research and development ("R&D") associated with that program, initially for the development of a new formulation of dronabinol for use in a Phase 3 clinical trial and the filing of regulatory approval for the treatment of obstructive sleep apnea ("OSA"). The current total budget for that program over the next several years is approximately US$16.5 million, most, but not all of which is expected to be eligible for the Australian R&D Tax Incentive ("RDTI"). Dronabinol, a synthetic version of D-9-THC, a naturally occurring substance in the cannabis plant, has already demonstrated significant improvement in the symptoms of OSA in two Phase 2 clinical trials. OSA is a serious respiratory disorder that impacts an estimated 29.4 million people in the United States and that has been linked to increased risk for hypertension, heart failure, depression, and diabetes. There are no approved drug treatments for OSA.
Because dronabinol is already FDA approved for the treatment of AIDS related anorexia and chemotherapy induced nausea and vomiting, RespireRx and ResolutionRx further believe that its repurposing strategy would only require, in the United States, approval by the FDA of a 505(b)(2) new drug application ("NDA"), an efficient regulatory pathway that allows the use of publicly available data.
EndeavourRx: Neuromodulators
GABAkines. Under a License Agreement with the University of Wisconsin-Milwaukee Research Foundation, Inc. ("UWMRF") and on behalf of its EndeavourRx business unit, RespireRx has licensed rights to certain selectively acting GABAkines because of their ability to selectively amplify inhibitory neurotransmission at a highly specific, subset of GABAA receptors, thus producing a unique efficacy profile with reduced side effects. Preclinical studies have documented their efficacy in a broad array of animal models of interrelated neurological and psychiatric disorders including epilepsy, pain, anxiety, and depression in the absence of or with greatly reduced propensity to produce sedation, motor-impairment, tolerance, dependence and abuse. EndeavourRx currently is focusing on developing KRM-II-81 for the treatment of epilepsy and pain.
KRM-II-81 has displayed a high degree of anti-convulsant activity in a broad range of preclinical studies, including in treatment resistant and pharmaco-resistant models. Not only was KRM-II-81 highly effective in these models, but pharmaco-resistance or tolerance did not develop to its anti-convulsant properties. These latter results are particularly important because pharmaco-resistance occurs when medications that once controlled seizures lose efficacy as a result of chronic use and it is a principal reason some epileptic patients require brain surgery to control their seizures. In support of its potential clinical efficacy, translational studies have demonstrated the ability of KRM-II-81 to dramatically reduce epileptiform electrical activity when administered in situ to brain slices excised from treatment-resistant epileptic patients undergoing surgery.
In addition, KRM-II-81 has displayed a high degree of analgesic activity in a broad range of preclinical studies. In intact animal models of pain, the analgesic efficacy of KRM-II-81 was comparable to or greater than commonly used analgesics. At the same time, KRM-II-81 did not display side effects such as sedation and motor impairment, but even more importantly, it did not produce tolerance, dependence, respiratory depression or behavioral changes indicative of abuse liability, which are produced by opioid narcotics and are at the heart of the opioid epidemic.
AMPAkines. Through an extensive translational research effort from the cellular level through Phase 2 clinical trials, RespireRx has developed a family of novel, low impact AMPAkines, including CX717, CX1739 and CX1942 that may have clinical application in the treatment of CNS-driven neurobehavioral and cognitive disorders, spinal cord injury, neurological diseases, and certain orphan indications. Our lead clinical compounds, CX717 and CX1739, have successfully completed multiple Phase 1 safety trials. Both compounds have also completed Phase 2 proof of concept trials demonstrating target engagement, by antagonizing the ability of opioids to induce respiratory depression.
AMPAkines have demonstrated positive activity in animal models of ADHD, results that have been extended translationally into statistically significant improvement of symptoms observed in a Phase 2 human clinical trial of CX717 in adult patients with ADHD. Statistically significant therapeutic effects were observed within one week. We believe AMPAkines may represent a novel, non-stimulant treatment for ADHD with a more rapid onset of action than alternative non- stimulants, such as Straterra(R) (atomoxetine), and without the drawbacks of amphetamine-type stimulants.
In a series of important studies funded by grants from the National Institutes of Health and published in a number of peer reviewed articles, Dr. David Fuller (University of Florida), a long-time RespireRx collaborator, has demonstrated the ability of CX1739 and CX717, RespireRx's lead AMPAkines, to improve motor nerve activity and muscle function in a number of animal models of spinal cord injury (SCI).
Additional information about RespireRx and the matters discussed herein can be obtained on the RespireRx web-site at www.RespireRx.com or RespireRx's filings with the U.S. Securities and Exchange Commission (the "SEC") at www.sec.gov. Additional information about ResolutionRx and the matters discussed herein can be obtained on the ResolutionRx website athttps://www.resolutionrx.com.au.
Not a Securities Offering or Solicitation
This communication shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sales of securities in any jurisdiction in which such offer, solicitation or sale of securities would be unlawful before registration or qualification under the laws of such jurisdiction.
Cautionary Note Regarding Forward-Looking Statements
This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (the "Securities Act") and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), and the Company intends that such forward-looking statements be subject to the safe harbor created thereby. These might include statements regarding the Company's future plans, targets, estimates, assumptions, financial position, business strategy and other plans and objectives for future operations, and assumptions and predictions about research and development efforts, including, but not limited to, preclinical and clinical research design, execution, timing, costs and results, future product demand, supply, manufacturing, costs, marketing and pricing factors.
In some cases, forward-looking statements may be identified by words including "assumes," "could," "ongoing," "potential," "predicts," "projects," "should," "will," "would," "anticipates," "believes," "intends," "estimates," "expects," "plans," "contemplates," "targets," "continues," "budgets," "may," or the negative of these terms or other comparable terminology, although not all forward-looking statements contain these words, and such statements may include, but are not limited to, statements regarding (i) future research plans, expenditures and results, (ii) potential collaborative arrangements, (iii) the potential utility of the Company's product candidates, (iv) reorganization plans, and (v) the need for, and availability of, additional financing. Forward-looking statements are based on information available at the time the statements are made and involve known and unknown risks, uncertainties and other factors that may cause our results, levels of activity, performance or achievements to be materially different from the information expressed or implied by the forward-looking statements in this press release.
These factors include but are not limited to, regulatory policies or changes thereto, available cash, research and development results, issuance of patents, competition from other similar businesses, interest of third parties in collaborations with us, and market and general economic factors, and other risk factors disclosed in "Item 1A. Risk Factors" in the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2022, as filed with the SEC on April 17, 2023 (the "2022 Form 10-K").
You should read these risk factors and the other cautionary statements made in the Company's filings as being applicable to all related forward-looking statements wherever they appear in this press release. We cannot assure you that the forward-looking statements in this press release will prove to be accurate and therefore prospective investors, as well as potential collaborators and other potential stakeholders, are encouraged not to place undue reliance on forward-looking statements. You should read this press release completely. Other than as required by law, we undertake no obligation to update or revise these forward- looking statements, even though our situation may change in the future.
We caution investors, as well as potential collaborators and other potential stakeholders, not to place undue reliance on any forward-looking statement that speaks only as of the date made and to recognize that forward-looking statements are predictions of future results, which may not occur as anticipated. Actual results could differ materially from those anticipated in the forward-looking statements and from historical results, due to the risks and uncertainties described in the 2022 Form 10-K, in our quarterly reports on Form 10-Q and in this press release, as well as others that we may consider immaterial or do not anticipate at this time. These forward-looking statements are based on assumptions regarding the Company's business and technology, which involve judgments with respect to, among other things, future scientific, economic, regulatory and competitive conditions, collaborations with third parties, and future business decisions, all of which are difficult or impossible to predict accurately and many of which are beyond the Company's control. Although we believe that the expectations reflected in our forward-looking statements are reasonable, we do not know whether our expectations will prove correct. Our expectations reflected in our forward-looking statements can be affected by inaccurate assumptions that we might make or by known or unknown risks and uncertainties, including those described in the 2022 Form 10-K, in our quarterly reports on Form 10-Q and in this press release. These risks and uncertainties are not exclusive and further information concerning us and our business, including factors that potentially could materially affect our financial results or condition, may emerge from time to time.
For more information about the risks and uncertainties the Company faces, see "Item 1A. Risk Factors" in our 2022 Form 10-K. Forward-looking statements speak only as of the date they are made. The Company does not undertake and specifically declines any obligation to update any forward-looking statements or to publicly announce the results of any revisions to any statements to reflect new information or future events or developments. We advise investors, as well as potential collaborators and other potential stakeholders, to consult any further disclosures we may make on related subjects in our annual reports on Form 10-K and other reports that we file with or furnish to the SEC including but not limited to our most recent Form 10-Q as of March 31, 2023 filed with the SEC on May 22, 2023.
Company Contact:
Jeff Margolis
Senior Vice President, Chief Financial Officer, Treasurer and Secretary
Telephone: 917-834-7206
Email: jmargolis@respirerx.com
RespireRx Pharmaceuticals Inc.
126 Valley Road, Suite C
Glen Rock, NJ 07452
www.respirerx.com
Nice pop this morning. Maybe the market is realizing the daily cost of that rig?
LMFAO
Glad I got out of this while there was some kinda bid. I have no idea why there’s any bid. Going to see or very soon, don’t be a bag holder on this dud.
Art on a sponsor interview with the Financial Survival Network podcast. Talks about SASB and the new farm-in deal.
https://podcasts.apple.com/us/podcast/new-blue-sky-opportunity-funded-by-production-cash/id485166512?i=1000623521666
Some of the institutional investors don’t agree. The % of institutional ownership is down from 0.5 to 0.0167. Probably part of the heavy volume today.
Pretty sure Trillion is getting equivalent to $14 currently and Art has always said the SASB is economical at $8. This oil exploration property must be just oozing with black gold.
I thought the gas price was around 15(usd or cad) and Art said the SASB was economical at 8(usd or cad)?
Article about strong natural gas demand in Europe.
https://www.nytimes.com/2023/07/31/business/energy-environment/austria-natural-gas-russia.html
I'm now strongly considering getting out of Trillion altogether.
My money was banking on each well funding the next until we get to 21 wells. Our customer is buying 100% of our product and we're going to stop increasing that product about 2 months before another likely spike in the product's price 😒
Perhaps this oil exploration deal is about 12 months early. If we had significant cashflow coming in with 12-15 gas wells and could comfortably afford to fund oil exploration, I get it. But we're sacrificing known gas to burn cash for exploration. This AGM better be gooooood.
Anyone else concerned about 2023? They're stopping at well #6, am I reading this right? What happened to 11 wells this year? I must be missing something, someone help a brother out here.
Trillion Energy Announces SASB Update and Alapli 2 Well Results
Optimization of future SASB Drilling program begins
August 2, 2023 - Vancouver, B.C. - Trillion Energy International Inc. (“Trillion” or the “Company”) (CSE: TCF) (OTCQB: TRLEF) (Frankfurt: Z62) is pleased to announce the Alapli-2 well flow test results and to provide an update on future drilling programs at the SASB gas field, Turkiye.
Alapli-2 Well results
Alapli-2 has 32 metres of total gas pay in the A, B, C and D sands of the Akcakoca Member, which is 22.7 metres thicker than the offset well Alapli-1. 15.1 metres measure thickness of gas pay were perforated and tested in Alapli-2; 9.1 metres “A” sand and 6 metres “D” sand. A combined flow rate of 11.9 MMcf/d was obtained using a 24/64” choke. Alapli-2 will be producing to the sales line in two days.
Operational update for SASB Drilling Program
After drilling five successful long reach directional wells and one re-completion at SASB, Trillion will continue to perform several new perforations of existing wells and begins to recalibrate the future drilling program to optimize capital expenditures to get the best return.
The next Phase of drilling is expected to resume during mid-2024 and includes several sidetrack wells, long reach directional wells as well as stratigraphic exploration wells.
For the remainder of 2023, Trillion will focus on: a) conducting field analysis to determine how to maximize gas production and ascertain which gas pools require additional wells in the next phase of drilling; b) complete reprocessing and remapping of the 3D seismic to delineate new stratigraphic exploration; c) plan and organize the next drilling phase to maximize returns on deployed capital.
For the 2024 SASB drilling program, five sidetrack wells have been engineered with certain long lead items purchased. These wells are expected to be drilled first, followed by several stratigraphic exploration prospects. New 3D seismic re-processing is expect to be completed by October 2023 to facilitate the 2024 drilling program as previously detailed in our January 31, 2023 Press Release. The new 3D seismic re-processing is expected to define stratigraphic exploration targets as well as to delineate reserves in structural traps.
Rig Contract
Trillion’s Uranus rig contract signed in 2022 mandated a minimum of 100 days’ drilling time and allowed for up to seven well operations. This contract corresponded with our anticipated Phase I program at the time of seven wells. Trillion will be seeking ways to maximize economics for the 2024 drilling program. Trillion has been actively negotiating a new drilling contract for the 2024 SASB drilling program. After the completion of the Alapli-2 well, the current drilling program will be concluded for 2023. During recalibration for next phase the URANUS rig will return to Constanta.
Update on well production
Trillion is continuing with it’s operations to maximize gas production at SASB. After the perforation of Alapli-2 the wire line unit and tractors will be moved to the Akcakoca Platform to carry out some additional perforations. Guluc-2 will have additional gas pay to be perforated as well as Akcakoca-3 and West Akcakoca-1 well. West Akcakoca-1 will be the pilot well for the slim hole ESP pump to lower water loading.
Arthur Halleran, CEO of Trillion, stated:
“Almost one year ago, we began drilling at the SASB gas field using advanced drilling technology to reach previously unreachable gas pools. We are pleased with the results of the first drilling campaign at SASB and believe our success on the field will continue. We look forward to opening a new dimension with the assessment of stratigraphic gas prospects on the SASB block and to maximize returns for drilling at SASB. The revenue generated by SASB gas production will now build a material cash balance and be used for other ventures.“
Annual General Meeting
The Company will hold its AGM on Thursday, August 10, 2023, at 11:00 a.m. at the offices of DS Lawyers Canada LLP at 800, 333 -7th Avenue SW, Calgary, AB, T2P 2C1. The Company has set the record date for the AGM at July 6, 2023. The Notice of Meeting, the accompanying Management Information Circular and related meeting materials are now available under the Company's profile on SEDAR at www.sedar.com and were mailed out to shareholders as of the record date July 14, 2023.