Trillion Energy International Inc. is pleased to provide an update on revenue receipts and production data from SASB for the month of December 2022 for the two new producing wells.
As production commenced on November 4th, 2022 for South Akcakoca-2 and November 24th 2022 for Akcakoca, both wells contributed a full month of production to December’s revenues. Trillion’s 49% share of December 2022 gas production (net of utility gas volumes) was 87.4 MMcf, generating USD $2,647,053 before royalties (US $2,342,633 after royalties) net to the Company. Daily gas production volumes from the wells increased slightly during December due to production rates being fine-tuned.
Drilling Update - Guluc-2 well
The Company is pleased that the Guluc-2 well is nearing completion at 3,524 meters -it is expected to reach total depth of 3,981 meters within days. Drilling results so far have been very encouraging, with gas shows having been encountered relatively early in the Akcakoca Member sands, a very positive sign.
Arthur Halleran, CEO of Trillion, stated:
“As per our plan, the gas revenues generated are being used to fund further drilling activities at SASB. With the identification of new sidetrack locations, long lead items are required to be purchased in a timely manner to facilitate drilling of the sidetrack wells in the second and third quarters of 2023.”
