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The Akakuka-3 field was perforated in July 2024 and is now producing at a rate of 4.66 million cubic feet per day with a total production rate of 100%.
VANCOUVER, British Columbia, September 10, 2024 (GLOBE NEWSWIRE) — Trillion Energy International Company (“trillion“or” “a companyShell Petroleum Industries Limited (CSE: TCF) (OTCQB: TRLEF) (Frankfurt: Z62) is pleased to announce that the Akcakoca-3 well in the SASB gas field has now started production.
On July 17, 2024, eleven (11) meters of gas were perforated in the Akçakoca-3 well, however, due to delayed pressure build-up, it was not initially produced.
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By Friday, September 6thDBy 2024, the wellhead pressure (WHP) of Akcakoca-3 had increased to 616 psi and the well was commissioned. Initial production flow rates were 4.28 MMcf/d which increased to 4.66 MMcf/d as the WHP increased to 645 psi.
Meanwhile, the Alapli-2 field has been opened for pressure testing that has brought gas to the surface, but it is not producing gas in significant quantities at this time – production is dependent on the installation of speed trains.
“We are very pleased with the strong performance of the Akcakoca-3 field and the successful flow tests at Alapli-2,” said Arthur Halleran, CEO of Trillion Energy. “All wells except Bayhanli-2 have now been placed on production or flow tested to confirm that gas is present and capable of producing in the 4 ½” production tubing. This confirms that once the 2 3/8” production tubing is installed in the wells, gas will flow in a predictable and consistent manner.”
About the company
Trillion Energy International Inc. focuses on producing oil and natural gas for Europe and Turkey through its natural gas assets in Turkey. The company owns a 49% stake in the SASB natural gas field, a natural gas development project in the Black Sea, and a 19.6% stake (excluding three wells of 9.8%) in the Cendere oil field. The company owns a 50% stake in three oil exploration blocks in southeastern Turkey. More information can be found at www.sedar.comand our website.
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Brian Park, Vice President of Finance
1-778-819-1585
Email: info@trillionenergy.com
Website: www.trillionenergy.com
Cautionary Statement Regarding Forward-Looking Statements
This press release may contain certain forward-looking information and statements, including, without limitation, statements regarding the Company’s ability to obtain regulatory approval for the appointments of executive officers and members of the Board of Directors. All statements contained herein, other than statements of historical fact, are forward-looking information and involve various risks and uncertainties. Trillion does not undertake to update any forward-looking information except in accordance with applicable securities laws.
These statements are not guarantees of future performance and are subject to certain risks, uncertainties, delays, strategy changes and assumptions that are difficult to predict and may change over time. Accordingly, actual results and strategies may differ materially and adversely from those expressed in any forward-looking statements as a result of various factors. These factors include unexpected securities regulatory challenges, COVID-19, oil and gas price fluctuations, operational and geological risks, changes in capital raising strategies, the Company’s ability to raise funds for development; the outcome of commercial negotiations; changes in technical or operating conditions; the cost of extracting oil and gas may increase and become so expensive that it becomes uneconomical or unprofitable to do so; and other factors discussed from time to time in the Company’s filings at www.sedar.com, including the most recently filed Annual Report on Form 20-F and subsequent filings. For a complete summary of our oil and gas reserves information in Turkey, please refer to our Forms F-1,2,3 and 51-101 filed at www.sedar.com, or request a copy of our Reserves Report as of December 31, 2022 and updated as of January 31, 2023.
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