Tuesday, November 15, 2022 11:27:01 AM
South Akcakoca 2 Well On Production; Akcakoca 3 well Ready for Re-perforation
Maintain BUY and Target Price
This morning, Trillion Energy International Inc. (“TCF”) provided an operational update on the current seven well program in the SASB gas field (49% W.I.). The recently drilled South Akçakoca 2 well has been placed on production at an initial rate of 3.0 MMcf/d. Management continues to monitor the well and expects to gradually increase the production rate over time. TCF also announced an update on the recompletion operations of the Akçakoca 3 well. Fishing operations successfully recovered over 600 kgs of old wireline cable from the well. TCF also milled out the old packer, which was pushed down into the well, below the deepest perforation interval. The well is now cleared and TCF expects to re-perforate the well, including ~34 metres of unperforated gas pay. Operations are expected to be completed this week.
The South Akçakoca 2 well was placed on production ahead of schedule. The Akcakoca-3 well has experienced some delays, but is now ready to be perforated. We maintain our BUY recommendation and our $1.35 target price, based on a 3.0 x multiple of our 2024F debt-adjusted cash flow.
To view the full updated coverage on Trillion Energy, click the button below:
https://mcusercontent.com/5e269838a16742a97c90596c2/files/9ddac5b5-85ab-85d2-e245-5bb6978631ae/TCF_11_14_22.pdf
Recent TRLEF News
- Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16] • Edgar (US Regulatory) • 09/10/2024 09:11:28 PM
- Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16] • Edgar (US Regulatory) • 05/30/2024 08:00:11 PM
VHAI - Vocodia Partners with Leading Political Super PACs to Revolutionize Fundraising Efforts • VHAI • Sep 19, 2024 11:48 AM
Dear Cashmere Group Holding Co. AKA Swifty Global Signs Binding Letter of Intent to be Acquired by Signing Day Sports • DRCR • Sep 19, 2024 10:26 AM
HealthLynked Launches Virtual Urgent Care Through Partnership with Lyric Health. • HLYK • Sep 19, 2024 8:00 AM
Element79 Gold Corp. Appoints Kevin Arias as Advisor to the Board of Directors, Strengthening Strategic Leadership • ELMGF • Sep 18, 2024 10:29 AM
Mawson Finland Limited Further Expands the Known Mineralized Zones at Rajapalot: Palokas step-out drills 7 metres @ 9.1 g/t gold & 706 ppm cobalt • MFL • Sep 17, 2024 9:02 AM
PickleJar Announces Integration With OptCulture to Deliver Holistic Fan Experiences at Venue Point of Sale • PKLE • Sep 17, 2024 8:00 AM