Friday, May 30, 2025

Latest

Trillion Energy Sees 2P Reserves At SASB Gas Field Increase 30%

A revised reserve report was released by Trillion Energy (CSE: TCF) this morning, with the company demonstrating significant growth in their gas reserves for their flagship SASB gas field in Turkey.

Trillion has seen its proved and probable (2P) gas reserves climb to 63.3 BCF, a 30% improvement over the 48.6 BCF reported as of the end of 2022. The net present value (NPV10%) of those reserves meanwhile improved 29% to US$548 million, representing US$1.43 per share.

The net present value (NPV10%) of proved, probable, and possible reserves meanwhile improved 28%, climbing from US$725 million to US$925 million, or roughly US$2.41 a share. The figures are based on Trillion’s 49% ownership interest in the SASB gas field.

“We are very pleased that our initial 2023 exploration and development program efforts have already begun to pay off with a substantial increases in reserves already this year. We expect that our continued drilling program will continue to grow our reserves throughout the year, further enhancing value to shareholders,” commented Arthur Halleran, CEO of Trillion.

At the same time, the firm this morning reported that it will be raising $15.0 million via a bought deal led by Eight Capital. Funds are to be raised via the sale of convertible debentures, with each debenture priced at $1,000 per each. The debentures are to bear interest at 12% per annum, payable semi-annually, and are convertible at $0.60 per share. Each debenture is to contain 1,667 common share purchase warrants, with a conversion price of $0.50 per share, and an expiry of June 29, 2025.

The financing is slated to close April 20, 2023.

Trillion Energy last traded at $0.38 on the CSE.


FULL DISCLOSURE: Trillion Energy is a client of Canacom Group, the parent company of The Deep Dive. 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.

Leave a Reply

Video Articles

How To Profit From $3300 Gold? An Inside Look At A Massive 300,000 Oz Project | Martino De Ciccio

We’re At The Start of a Great Silver Boom | Ross McElroy & Andy Bowering – Apollo Silver Corp

Equinox Gold Q1 Earnings: When Everything Goes Wrong

Recommended

Sterling Metals Hits 0.21% Copper Over 482.8 Metres In First Drilling At Soo Copper project

First Majestic Makes Second Major Discovery At Santa Elena In Just A Year

Related News

Company Profile: Trillion Energy International

Trillion Energy International Inc. (CSE: TCF) is a Canadian oil and gas exploration company with...

Tuesday, February 28, 2023, 03:50:00 PM

Trillion Energy: Research Capital Reiterates $1.35 Price Target

On Tuesday, Trillion Energy (CSE: TCF) announced that it will be expanding its well development...

Sunday, January 15, 2023, 11:23:00 AM

Market Movers: Trillion Energy Continues To Climb As Drill Program Nears

Trillion Energy International (CSE: TCF) has been an outlier over the course of the last...

Friday, August 26, 2022, 02:45:00 PM

Energy Markets “Will Still Be Oil & Gas” — With Arthur Halleran of Trillion Energy

Starting off the week on the Daily Dive is Arthur Halleran, President & CEO of...

Monday, October 17, 2022, 01:30:00 PM

Trillion Energy Enters NDA With Major Natural Gas Trading Company

FULL DISCLOSURE: This is sponsored content for Trillion Energy. Trillion Energy (CSE: TCF) is looking to...

Thursday, July 20, 2023, 09:15:13 AM