TRILLION ENERGY COMMENTS ON RECENT TRADING ACTIVITY AND PROVIDES YEAR-TO-DATE RECAP
Vancouver, B.C., June 08, 2023 (GLOBE NEWSWIRE) — Trillion Energy International Inc. (“Trillion” or the “Company”) (CSE: TCF) (OTCQB: TRLEF) (Frankfurt: Z62) reports that in view of unusually high trading volumes and volatility in the trading of the Corporation’s common shares in the market today across Canadian exchanges, it is not aware of any material undisclosed information. While the Corporation ordinarily does not comment on market activity and speculation, the Corporation confirms that it is not aware of any material corporate developments that account for same.
The Company is also providing the following recap and highlights of year-to-date activities:
- As per our June 1 2023 press release, the drilling rig has moved to the Akkaya Platform for drilling of the Alapli-2 well, the sixth well in the Company’s multi-well program;
- As per our May 30 2023 press release, drilling successes at SASB have resulted in record revenues of $6.2 million USD being reported in our March 31 2023 Q1 quarterly financial results;
- As per our June 1 2023 press release, record production was achieved at the recent Bayhanli-2 well by perforating eight intervals within the E, D, C, A and AA gas sand reservoirs resulting in initial production flow rates between 8 and 9MMcf/d;
- Additional rig-less wireline perforations are being planned this month for certain wells on the Akcakoca platform to increase and maintain natural gas production levels;
- Natural Gas prices are confirmed unchanged at about USD $14/MCF for June 2023
About the Company
Trillion Energy is focused on natural gas production for Europe and Türkiye with natural gas assets in Türkiye. The Company is 49% owner of the SASB natural gas field, one of the Black Sea’s first and largest-scale natural gas development projects; and a 19.6% (except three wells with 9.8%) interest in the Cendere oil field. More information may be found on www.sedar.com, and our website.
Cautionary Statement Regarding Forward-Looking Statements
This news release may include certain forward-looking information, including statements relating to business and operating strategies, plans and prospects for revenue growth and listing plans, using words including “anticipate”, “believe”, “could”, “expect”, “intend”, “may”, “plan”, “potential”, “project”, “seek”, “should”, “will”, “would” and similar expressions, which are intended to identify a number of these forward-looking statements. Forward-looking information reflects current views with respect to current events and is not a guarantee of future performance and is subject to risks, uncertainties and assumptions. The Company undertakes no obligation to publicly update or review any forward-looking information contained in this news release, except as may be required by applicable laws, rules and regulations. Readers are urged to consider these factors carefully in evaluating any forward-looking information.