Trillion Energy (CSE: TCF) provided a progress update on the status of its third well under its ongoing multi-well development program. The third well, as previously announced, has hit 73 metres of potential gas pay.
The well, referred to as Guluc 2, is currently awaiting perforation before it can be placed into production. Trillion this morning indicated that while it had originally anticipated perforation and flow testing to occur last week, there has been a delay as a result of waiting upon well tools to be delivered. Those tools enable the perforation guns to be properly positioned into the well.
The delay itself is said to be a result of the recent earthquakes that struck the country, which have hampered Turkey as efforts focus on assisting those impacted. The tools as a result are expected to be received later this week.
In an effort to reduce the impact of the delay, Trillion has indicated that it has skidded the drill rig to the West Akcakoca-1 well, which will be drilled to total depth. The well was previously drilled to a depth of 1,008 metres in late 2022, and is expected to now be completed. After drilling is completed, both the WA-1 well and Guluc 2 wells are expected to be perforated and placed into production.
The Guluc 2 well was drilled to a total depth of 3,910 metres, which was completed as the end of January. The well is said to have intersected a total of 73 metres of potential natural gas pay across 14 separate zones within the Akcakoca Member.
Trillion Energy last traded at $0.35 on the CSE.
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