Trillion Energy Provides Operational Update on SASB Revitalization

• Trillion Energy to commence SASB revitalization project in mid-April 2024
• New gas pay to be perforated in Guluc-2, South Akcakoca-2, West Akcakoca-1, and Akcakoca-3
• Velocity strings to be installed instead of PCP pumps and ESP pumps for artificial gas lift
• Velocity strings are cost-effective, simple to operate, and suitable for high gas producing wells
• Trillion Energy focuses on oil and natural gas production in Europe and Türkiye

About Trillion Energy

Trillion Energy International Inc. (CSE: TCF) (OTCQB: TRLEF) (Frankfurt: Z62) is an oil and natural gas company focused on production in Europe and Türkiye. The Company holds a 49% stake in the SASB natural gas field, a Black Sea natural gas development, and a 19.6% interest (except three wells with 9.8%) in the Cendere oil field. Additionally, Trillion Energy has a farm-in to earn a 50% interest in three oil exploration blocks in Southeast Türkiye.

SASB Revitalization Project Update

Trillion Energy is set to begin the SASB revitalization project in mid-April 2024, as all necessary equipment and supplies are expected to arrive by then. The project will start with the perforation of a total of 49 metres of new gas pay in the Guluc-2, South Akcakoca-2, West Akcakoca-1, and Akcakoca-3 wells before the installation of artificial gas lift (AL).

The Company has made a strategic decision to shift from using PCP pumps and ESP pumps to velocity strings for the first step of the AL program. This change was influenced by the expertise of newly hired skilled personnel who recognize the advantages of velocity strings in the current stage of the gas-producing wells.

Advantages of Velocity Strings

Chief Operating Officer, Al Thorsen, explains that velocity strings are the best solution for the SASB gas-producing wells at this stage. Velocity strings offer several advantages:

1. Cost-effective: Installing velocity strings requires substantially less capital compared to installing PCPs, making it a more economical option for the Company.
2. Simple to operate: Velocity strings are relatively simple to operate, which can increase efficiency and reduce downtime.
3. No moving parts: Unlike PCP pumps and ESP pumps, velocity strings have no moving parts, which reduces the risk of mechanical failures and maintenance requirements.
4. Suitable for high gas-producing wells: Velocity strings are well-suited for wells with large volumes of gas yet to produce, making them an ideal choice for SASB gas-producing wells.

The installation of velocity strings involves threading 2 3/8" production tubing inside the existing 4 ½" tubing, which is a faster process compared to installing PCP pumps or ESP pumps.

Long-term Strategy

While velocity strings are the first step in the AL program, Trillion Energy has a long-term strategy in place. Al Thorsen notes that in the future, approximately 5 to 6 years from now, when most of the gas has been produced from the wells, the Company will install PCP pumps or ESP pumps to extend the gas-producing life of the wells. This approach ensures that the Company can maximize the production potential of the SASB gas field over time.

Investor Perspective

For investors looking at Trillion Energy International Inc., the Company's focus on oil and natural gas production in Europe and Türkiye, coupled with its strategic assets in the SASB natural gas field and the Cendere oil field, presents an attractive opportunity. The Company's decision to commence the SASB revitalization project using cost-effective and efficient velocity strings demonstrates its commitment to optimizing production while minimizing costs.

Furthermore, Trillion Energy's long-term strategy to extend the gas-producing life of the wells by installing PCP pumps or ESP pumps in the future showcases its forward-thinking approach and dedication to maximizing the value of its assets.

As the Company progresses with the SASB revitalization project and provides further updates on the increase in gas production, investors can expect to see the potential for growth and value creation. Trillion Energy's experienced management team and strategic decisions position the Company well to capitalize on the growing demand for oil and natural gas in Europe and Türkiye.

Conclusion

Trillion Energy International Inc.'s operational update for April 2024 highlights the Company's progress in the SASB revitalization project and its focus on optimizing gas production through the installation of velocity strings. With a long-term strategy in place and a commitment to maximizing the value of its assets, Trillion Energy presents a compelling investment opportunity for those seeking exposure to the oil and natural gas sector in Europe and Türkiye. As the Company continues to execute its plans and provide updates on its progress, investors can look forward to the potential for growth and value creation in the years to come.