Trillion Energy Increases 2023 Production Guidance to 11 New Wells Explains CEO Art Halleran
Arthur Halleran, CEO of Trillion Energy (CSE: TCF – OTCQB: TRLEF – Frankfurt, Z62, Forum), stated: “During 2023 we are focusing on using the Uranus rig to increase production through new wells, sidetracks and workovers. An added benefit of drilling side-tracks from existing well boreholes is that they are already tied into the pipeline and production facility, so once drilled and completed the wells are immediately put on production. We are currently in the process of getting our partner’s feedback on the proposed side-tracks. We are pleased to have developed a work program which permits continuous drilling over the year to enable us to exit 2023 with 13 wells.”
Natural gas sale prices for January 2023 are about US $27/MCF, historically high pricing for the Turkiye region. As a comparison, Henry Hubb natural gas price is only about US$5.50 currently.
Trillion is an oil and gas producing company with multiple assets throughout Turkiye and Bulgaria. 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; a 19.6% (except three wells with 9.8%) interest in the Cendere oil field; and in Bulgaria, the Vranino 1-11 block, a prospective unconventional natural gas property.
Trillion Energy also has tremendous blue-sky potential on its natural gas license areas which it is currently seeking to expand. The company’s SASB gas field is located just 100km south of the largest gas discovery (19 TCF+) in 30 years in Europe and is the only nearology play in the region. Art is planning to test the most prospective structures he has identified in 2024 and beyond.
0:00 Introduction
1:10 TCF increases 2023 production guidance
3:20 Cashflow projections
4:35 Off-block exploration targeting huge discoveries
6:35 Could TPAO’s discoveries negatively impact TCF?
8:10 Third well in drill program on schedule
9:16 TCF being paid $27/mcf not HH price
12:13 TCF share price commentary
13:31 CEO Art Halleran’s skin-in-the-game
17:28 Dereick on-shore oil exploration license
18:49 Upcoming catalysts
