Trillion Energy Announces Derecik Zagros Basin Oil Property Evaluation - Seite 2

The two drill ready structures are:

1. Balkayalar-1 with TD 2560 meters which is an anticline 4 way closure containing Jurassic and Triassic reservoirs, and
2. Derecik-1 with TD 3,493 meters which is an anticline 4 way closure containing Cretaceous, Jurassic and Triassic reservoirs.

The two locations are expected to contain analogous reservoirs as found in the Shaikan Field located 90 km south of the locations. Shaikan produced average 32,883 bopd in 2019 and have 2p of 578 million bbls oil.

In Turkey the fiscal terms are far superior to what is found in Iraq. In Turkey has a 12.5% royalty and a 20% corporate tax whereas in Northern Iraq it is substantially more expensive and has greater security and other risks.

The Company estimates that drilling a well on the Derecik license will cost about $10 million while an equivalent well in Norther Iraq would cost about $60 million.

Trillion is evaluating the next steps to capture the value of this highly prospective license, which it expects will involve drilling one of the two prospects, at dates to be determined.

Arthur Halleran, CEO commented, “Successful exploration efforts on the Derecik play have the potential to yield a significant conventional oil discovery accessible for low production costs, competitive in today’s oil environment. We are excited about our evaluation of the property’s drilling prospects, given its proximity to super major fields and our data analysis conducted to date.”

About the Company

Trillion Energy is an oil and gas producing company with multiple assets throughout Turkey and Bulgaria. The Company is 49% owner of the SASB natural gas field, one of the Black Sea’s first and largest natural gas development projects; a 19.6% (except three wells with 9.8%) interest in the Cendere oil field;  a 100% interest in 42,833 hectares oil exploration block covering the northern extension of the prolific Iraq/Zagros Basin; and in Bulgaria, the Vranino 1-11 block, a prospective unconventional natural gas property.

For further information, please see our website: www.trillionenergy.com  or email us: [e-mail]

The Company’s NI 51-101 and other reports relating to its reserves as at December 31, 2019 are filed on www.sec.gov, www.sedar.com,  www.thecse.com, as well as the Company’s website.

Contact
Art Halleran, CEO: 1-250-996-4211
e-mail: [e-mail]
Website: www.trillionenergy.com