- Trillion Energy International (CSE:TCF) has shared positive flow rates and well perforations from its 49-per-cent-owned SASB gas field in the Southwestern Black Sea offshore Turkey
- Shares are up by 13.79 per cent on the news, but have given back 90.46 per cent year-over-year
- The company’s ongoing work program at SASB began in June 2024 to significantly increase natural gas production and exploit US$420.5 million in proved and probable reserves
- Trillion Energy International is an oil and natural gas production company supplying the Turkish and European markets
Trillion Energy International (CSE:TCF) has shared positive flow rates and well perforations from its 49-per-cent-owned SASB gas field in the Southwestern Black Sea offshore Turkey.
Well head pressure (WHP) at the South Akcakoca-2 well has stabilized at 371 psi, with the well recently producing 1.94 million cubic feet of gas per day (MMcf/d) using a 42/64” choke.
Initial flow was diverted to the platform vent line at Guluc-2 with a 64/64” choke with producing WHP of approximately 350 psi, which increased to 1,200 psi about 40 minutes after the well was shut in. Guluc-2 is currently producing 3.35 MMcf/d with a WHP of 484 psi using a 32/64” choke.
Trillion has completed only two of five zones slated for perforations at West Akcakoca-1 because of delays related to a replacement tool expected to arrive Thursday. The two perforated zones yielded 5 metres of gas pay, with WHP rising from 1,150 psi to 1,350 psi. The company intends to perforate three more gas zones representing 4 metres of gas pay before well testing and flowing, and expects encouraging results, according to Wednesday’s news release, based on the WHP increase.
Finally, Akcakoca-3 was perforated across 11 metres of gas pay with no WHP increase, likely because of water loading, which is currently at 315 metres depth. Management expects the well to bounce back to 2 MMcf/d after the installation of velocity strings pictured above.
Trillion’s ongoing work program at SASB began in June 2024 to significantly increase natural gas production and exploit its US$420.5 million in proved and probable reserves. The value of these reserves is orders of magnitude above Trillion’s current market capitalization of C$25.29 million, presenting investors with a multi-bagger value opportunity well worth a detailed look.
About Trillion Energy International
Trillion Energy is an oil and natural gas production company supplying the Turkish and European markets. Besides the SASB natural gas field, the energy stock holds a 19.6 per cent (except three wells with 9.8 per cent) interest in the Cendere oil field and is actively pursuing exploration in southeast Turkey and beyond.
Trillion Energy stock (CSE:TCF) is up by 13.79 per cent trading at C$0.16 per share as of 11:28 am ET. The stock has given back 90.46 per cent year-over-year.
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(Top photo of velocity strings destined for Trillion’s Akçakoca-3 gas well near Turkey: Trillion Energy International)
