FULL DISCLOSURE: This is sponsored content for Trillion Energy.
Trillion Energy (CSE: TCF) is looking to capitalize on certain claims it holds in Bulgaria. The company this morning revealed it has entered into a non-disclosure agreement with a major global energy trading company to explore opportunities in Bulgaria and Turkiye.
The energy trading company, while its name was not disclosed, is said to have had 2022 revenue in excess of US$100 billion, and is involved in the business of buying, distributing, and selling natural gas.
The duo are said to be sharing data on potential new business opportunities that could potentially be advanced together, with Trillion aiming to advance the development of the Vranino 1-11 exploration block in Bulgaria. Vranino has coal bed methane natural gas exploration potential, and significant gas resources.
The block is said to cover 98,205 acres of land, with the claims containing a resource estimate of 1.15 Tcf of undiscovered OGIP and 537 Bcf of gross prospective natural gas resources (unrisked) on a best estimate basis, as per a report assembled by Netherland Sewell & Associates in 2014.
Vranino to date remains unexplored by Trillion.
READ: Trillion Energy Recompletes West Akcakoca-1 To Increase Production To 5.3 MMcf/d
The arrangement appears to have come about following “significant opportunities” to gain access to pipeline infrastructure in Bulgaria and Turkiye, following the interconnector Greece-Bulgaria being implemented, and the expansion of infrastructure in both Bulgaria and Turkiye. The success of Trillion’s development of the SASB gas field using long-reach directional drilling is also said to have precipitated the initiative.
The development follows Trillion on Monday announcing that its Alapli 2 gas well, the sixth well under an ongoing development program, reached total depth of 3,258 metres, with preliminary data suggesting over 40 metres of potential natural gas pay existing within the well across six separate sands in the Akcakoca member.
Trillion Energy last traded at $0.355 on the CSE.
FULL DISCLOSURE: Trillion Energy is a client of Canacom Group, the parent company of The Deep Dive. Canacom Group is currently long the equity of Trillion Energy. The author has been compensated to cover Trillion Energy on The Deep Dive, with The Deep Dive having full editorial control. Not a recommendation to buy or sell. We may buy or sell securities in the company at any time. Always do additional research and consult a professional before purchasing a security.
