Trillion Energy Closes $10.8 Million Public Offering, Positions for Growth

• Trillion Energy closed a $10.8 million public offering, including partial exercise of over-allotment option
• Proceeds to fund 2023-2024 capital programs and general working capital
• Trillion Energy is focused on oil and gas production and development in Türkiye
• Company has a 49% stake in a major natural gas field in the Black Sea
• Trillion Energy offers investors production and exploration exposure in an undersupplied regional market

About Trillion Energy

Trillion Energy International Inc. is an oil and natural gas company focused on production and development assets in Türkiye. Headquartered in Vancouver, Canada, the company is advancing a portfolio that includes natural gas production and exploration blocks. Trillion holds valuable stakes in the SASB gas field, one of the first and largest natural gas development projects in the Black Sea, as well as interests in the Cendere oil field and high-impact exploration assets.

For investors, Trillion Energy offers leveraged exposure both to in-production assets generating cash flow, as well as considerable exploration upside in undersupplied regional oil and gas markets. Natural gas prices in Türkiye and Europe have spiked over the past year, underscoring the need for domestic production assets. Trillion Energy provides this exposure in a geopolitically stable jurisdiction aligned with European energy security priorities. With its recent capital raise, the company is strongly positioned to demonstrate production growth and exploration catalysts in 2023-2024.

Capital Raise Positions Trillion for Growth

Trillion Energy recently closed an oversubscribed $10.8 million public offering, paving the way for expanded development plans in Türkiye. Despite difficult financial market conditions, the success of the raise signals strong investor confidence. The company issued 36 million common shares at $0.30, including partial exercise of an over-allotment option.

Use of proceeds are earmarked to progress near-term work programs, pay down liabilities, and supplement working capital. Specifically, funds will help advance production operations at the SASB gas field and Cendere oil field. Capital will also support Trillion’s exploration program, where it holds 50% stakes in three compelling and de-risked exploration blocks.

With capital now secured, Trillion Energy is strongly positioned to demonstrate expanding production and cash flow into 2024. Importantly, the liquidity buffer also helps insulate the company from short-term volatility in financial and commodity markets.

Material Production & Development Assets

Trillion Energy’s foundation asset is the SASB natural gas field, located in the Black Sea. Trillion holds a 49% interest in the project, which commenced first gas production in 2021 and is now advancing through a multi-well development program. Once reaching peak production, the field is expected to meet approximately 10% of Türkiye's natural gas demand. For Trillion investors, this asset delivers material production and cash flow exposure as output scales up.

In addition to SASB, Trillion has a 19.6% stake in the Cendere oil field, with near-term plans to redevelop wells and implement secondary recovery techniques to boost output. Hence, the company’s production portfolio combines gas flowing from SASB along with oil revenues from Cendere. This near-term cash flow funds expanding development and exploration initiatives.

High-Impact Exploration Upside

While current production assets provide fundamental value, Trillion also holds high-upside exploration potential across approximately 570,000 acres in Türkiye's Thrace Basin. The company has 50% stakes in three compelling oil exploration blocks: Igdeli, Baglik, and Argin. Combined, these blocks target 148 million barrels of prospective resources, offering shareholders significant torque to exploration success.

Importantly, while early-stage, the exploration portfolio benefits from available infrastructure, low-cost drilling economics, and de-risked well locations adjacent to existing discoveries. Initial wells at Igdeli and Baglik can be funded through production income, providing built-in catalysts for unlocking upside value. Exploration success across Trillion’s licences would be transformational.

Investment Summary

For investors, Trillion Energy provides unique exposure blending cash flowing production, visible growth, exploration potential, and strategic regional energy assets. The company is strongly positioned to demonstrate expanding production volumes, higher utilization at its processing facility, and exploration drilling catalysts. While late-stage development investing carries risks on timing and budget, Trillion’s assets enjoy key advantages given high gas prices, undersupplied demand dynamics and supportive relationships across the licences.

With its latest raise de-risking near-term funding outlook, the company expects to generate strong operating momentum through 2024. As Trillion Energy continues unlocking asset value and regional energy resources, investors can expect compelling news flow highlighting operational and financial growth ahead.