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Vancouver, BC based %TrillionEnergyInternational (CSE: $TCF ) (OTCQB: $TRLEF ) (Frankfurt: Z62) provided an update on the SASB gas project, announced its 2024 capital budget and provided production guidance.

SASB Operational Update

According to the release, Trillion is currently undertaking a work program to optimize production on the SASB Field to ensure all 6 previously drilled and completed wells are able to produce concurrently on a managed basis. These operational initiatives will include the following:

- This week, a booster compressor is being added at the Cayagzi gas process facility to reduce the inlet pressure (which is currently 125 to 135 psi) down to 50 to 60 psi. This upgrade is expected to add an additional 4.9 – 5.3 MMcf/d production across the wells;

- Perforation of 37 meters of additional pay in 3 of the 6 production wells to occur in October ’23;

- Installation of artificial lift to reduce water loading in 2 of the 6 wells. Once the optimal design is confirmed and tested, ESP pumps will be installed in all wells that could benefit from artificial lift to maintain long term production;

- A third-party engineering firm has been engaged to make recommendations on optimizing production and facility operations;

- ESP pump to be installed with 2 3/8” production tubing in the 4 ½” casing is expected to reduce water head pressure in selected wells.

Trillion is an oil and gas producing company with multiple assets throughout Turkiye. 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 three oil exploration blocks located in Cudi-Gabar Oil Petroleum Province, SE Turkiye.

Shares are trading unchanged at $1.09