Trillion Energy International today provides an update on the SASB gas project and announces its 2024 capital budget.

SASB Operational Update

Trillion is currently undertaking a work program to optimize production on the SASB Field to ensure all 6 previously drilled and completed wells are able to produce concurrently on a managed basis. These operational initiatives will include the following:

• This week, a booster compressor is being added at the Cayagzi gas process facility to reduce the inlet pressure (which is currently 125 to 135 psi) down to 50 to 60 psi. This upgrade is expected to add an additional 4.9 – 5.3 MMcf/d production across the wells;
• Perforation of 37 meters of additional pay in 3 of the 6 production wells to occur in October ’23;
• Installation of artificial lift to reduce water loading in 2 of the 6 wells. Once the optimal design is confirmed and tested, ESP pumps will be installed in all wells that could benefit from artificial lift to maintain long term production;
• A third-party engineering firm has been engaged to make recommendations on optimizing production and facility operations;
• ESP pump to be installed with 2 3/8” production tubing in the 4 ½” casing is expected to reduce water head pressure in selected wells.

2024 Capital Program

Trillion is planning the following activities and budgeted capital expenditures for the 2024. Currently, Trillion has US$1.7MM of net cash on hand and 77.9M common shares outstanding; on a fully-diluted basis, Trillion has 79.2MM in-the-money ("ITM") fully diluted shares outstanding with ITM proceeds of approximately $0.8MM.

• SASB Gas Field Development: To meet the above 2024 production guidance, the Company plans to drill 5 new sidetracked production wells from existing platforms to raise the total number of producing wells to 11. 
• SASB Gas Field Exploration: The Company plans to drill at least one exploration well targeting potential stratigraphic natural gas prospects (The current 6 wells are structural deposits). 
• High Impact Oil Exploration: During 2024, the Company plans to complete seismic acquisition and drill 2 exploration wells at its oil exploration blocks in S.E. Turkiye. The wells’ locations will be determined based on the planned seismic acquisition commencing in Q4 2023. The oil exploration program planned is potentially very high impact given the geological setting and series of recent new discoveries made in the region. 

Capital Program Budget: 

Arthur Halleran CEO commented:
“We are 100% focused on realizing the production potential at SASB through both our current and future development programs. Overall, we are pleased with the amount of gas we have discovered in our initial six wells and now it is time to profit from it. With SASB well on its way, we also look exploring to adding high impact oil exploration to Trillion for 2024 in the prolific Cudi-Gabar Oil Petroleum Province”.

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