Trillion Energy Announces Derecik Zagros Basin Oil Property Evaluation

Two drill ready conventional oil prospects in the Zagros Basin just north of >100 million barrels of oil recoverable fields in Iraq

VANCOUVER, British Columbia and ANKARA, Turkey, July 07, 2020 (GLOBE NEWSWIRE) -- Trillion Energy International Inc. (“Trillion” or the “Company”) (CSE: TCF) (OTC: TCFF) (Frankfurt: 3P2N) is pleased to report that the evaluation of the Zagros Basin Derecik Exploration Licenses in the Hakkari area of Turkey is complete and yielded promising results.

Trillion has 100% interest of 42,833 hectares of the Derecik Licenses which covers the extension of the oil rich Iraq Zagros Basin into Turkey – proximate to several world class oil fields located in Northern Iraq. Trillion’s Derecik Exploration Licenses oil fields are located in proximity to the following proven oil fields:

• 45 kilometers south the Bijell Field, with 1 well producing 3,576 with an estimated 100 MM bbls recoverable (Gulf Keystone Petroleum Ltd)
• 65 kilometers away the Atrush Field with Q4 2019 produced average of 41,700 bopd and best estimate resource of 2 billion bbls oil
• 75 kilometers away the Swara Tika field with 21,000 bopd production and 2P of 368 MM bbls 36-39 API
• 60 kilometers away the Swara Tika East with one well producing 5,600 bopd and 2C resources of 157 MM bbls oil of 36-39 API.

As the Derecik Licenses are located just where Turkey extends into the Iraq Zagros basin, we have determined the stratigraphy on the Derecik License is identical to the what is found in several Iraq producing fields. We have conducted surface mapping, seismic interpretation and geological evaluation of same. The same reservoir rocks source rock that oil is produced from in Iraq is also found on the Derecik Licenses. The oil prone sources rocks that occur in Iraq are present on the Derecik Licenses.

The nearest well on the Turkey side of the border for the Zagros Basin is 85 kilometers away from the Derecik Licenses and never reached the target reservoir, leaving the region significantly unexplored.

Oil seeps and bitumen found on the Derecik Licenses have been analyzed and indicate that there is a petroleum system in the Derecik region which bears resemblances to the oil field found in Northern Iraq.

The result of the photo-geological study, geochemical analysis of the oil seeps and bituminous samples, offset well information in Iraq and seismic data shot and interpretation within the Derecik Licenses has identified 7 leads, with 2 of those 7 leads drill ready. All leads area result of Cretaceous and Miocene compression which is the dominant play in Northern Iraq.