Trillion Energy Finalizes Seismic Program on M47 Block in Türkiye

• Trillion Energy has finalized a seismic survey covering priority areas on its M47 oil block in southeastern Türkiye.
• The block holds an estimated resource of about 27.6 million barrels of light oil, with an estimated value of roughly 733.5 million US dollars.
• The property sits close to one of Türkiye's largest onshore oil discoveries.
• The survey is expected to take place in late summer 2026 and take about 6 weeks to complete.
• Once the survey results are studied, the company plans to announce where it intends to drill next.

Trillion Energy (CSE: TCF| OTCQB: TRLEF | FRA:Z62) is a Canadian oil exploration company focused on Türkiye. The company holds an agreement to earn up to a 29% ownership stake in the M47 block.

Why This Matters to Investors

The finalized survey matters to investors because it shows how the company is preparing to make its next drilling decision, on a property that already carries a meaningful estimated oil resource. For a smaller company, this kind of planned, staged spending is often the clearest sign of how management is directing its money before a bigger commitment, such as drilling, is made.

An outside firm reviewed the block's resource potential using standard industry methods. That review estimated the block's best-case oil resource at about 27.6 million barrels of light oil, with a likelihood of development estimated at 81%. Looking across the full property, the estimated resource rises to about 51.6 million barrels of oil owned by Trillion.

Key Development

The company has finalized a seismic survey covering roughly 40 kilometers of ground across a few priority areas of the M47 block, including the area where wells were drilled in 2025. Paperwork for the survey contractors has already been prepared, and the survey itself is expected to take place in late summer 2026, over about 6 weeks.

President of Trillion Energy, Scott Lower, said:

"New seismic acquisition significantly advances the commercialisation and exploration of the M47 Block forward. Some of the most important and prospective areas of the block have not been sufficiently imaged to date. Once it is interpreted, new well locations may be finalised for the upcoming drilling programs as we move one step closer to commerciality and sustained production."

Why the Location Matters

The M47 block sits close to one of Türkiye's largest onshore oil discoveries, in a part of the country where other companies have made several new oil discoveries in recent years. The new survey lines were also placed so they connect with recent discoveries made on the block next door, giving the company a way to build on what has already been found nearby.

Lower added that the goal is to move the project "one step closer to commerciality and sustained production," a statement that ties the survey work directly to the company's longer-term aim of turning the block into a producing asset.

Next Milestones

Once the survey is finished, the company plans to study the results and then choose specific drilling locations. Beyond the North area, the block also includes a confirmed light oil discovery with a strong measurement of oil-bearing rock, and the full property carries a larger, though less certain, estimated value of about 1.18 billion US dollars if further exploration succeeds. Only a portion of the oil believed to be in place is expected to ultimately be recoverable.

Site preparation work has also been arranged in advance, which the company says should help keep the survey on schedule and control costs.

The Investment Thesis for Trillion Energy

• The finalized seismic survey moves Trillion Energy from early-stage planning to a concrete, time-bound step toward its next drilling decision.
• The survey connects existing resource estimates on the M47 block to a real near-term milestone, the announcement of specific drilling locations.
• The block's location near one of Türkiye's largest onshore oil discoveries adds useful geological context to the project.
• The resource figures behind the project remain estimates rather than confirmed outcomes, so investors should treat them as potential, not guaranteed, value.
• The survey reduces some uncertainty about where to drill, but it does not confirm that oil will ultimately be found or produced.
• The completion of the survey and the resulting drilling announcement offer a clear checkpoint for investors to judge whether the company's M47 plans are progressing as described.

Taken together, these points suggest M47 is best viewed as a project moving through a defined, watchable sequence rather than one that has already delivered a production outcome. Investors weighing Trillion Energy at this stage are effectively pricing in the company's ability to execute the survey on schedule and translate the results into drillable targets, not a confirmed resource or output. The coming months, centered on the survey's completion and the drilling location announcement that follows, will be the more meaningful test of that execution.

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