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The fifth well under Trillion Energy’s (CSE: TCF) multi-well development program at the SASB gas field has seen its flow test completed, subsequent to which it was placed into production.
“Bayhanli-2 is our fifth well operation successfully drilled and producing gas at SASB. With multiple zones perforated, we expect a good producer which will also help us evaluate how to produce gas at maximum rates,” commented Trillion CEO Arthur Halleran.
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The Bayhanli-2 well saw eight intervals of gas pay perforated and tested, with the gas pay having a thickness of 21 metres. Flow testing on a combined basis across the intervals is said to have seen a final result of 11.9 MMcf/d.
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The well has now been placed into production, with initial flow rates expected to amount to between 8 and 9 MMcf/d.
With the completion of the well, the Uranus drill rig currently being utilized by the company will be moved to the Akkaya tripod, where it will begin to drill Alapli-2, the sixth well under the current program. The well is said to be a twin of a previously discovered gas pool that has not yet been placed into production.
The development follows the company releasing its first quarter financial results earlier this week. The company saw record topline revenue of US$6.1 million for the quarter, with Trillion ending the quarter with a net income of $2.3 million.
Trillion Energy last traded at $0.36 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.
