Trillion Energy International Inc. - Strong Petroleum Prices Buoy Company Operations in Turkey
Vancouver, British Columbia--(Newsfile Corp. - August 27, 2019) - Trillion Energy International Inc. (OTC Pink: TCFF) ("we", "us", "our", the "Company") is pleased to announce that, as of August 1, 2019 the Company received a significant price increase for sales of natural gas sold in Turkey.
Natural Gas selling price increases
The Company will now receive USD $7.36 ($9.86 CND) per MCF for natural gas produced from its SASB field. The current natural gas selling price is up 51% year-over-year from $4.89 per MCF received during August 2018 and up 9.2% from July 1, 2019. The SASB gas field has produced approximately 40 BCF in natural gas to date. The Company has a 49% interest in the SASB natural gas field. The Company's sale prices for crude oil from its Centre oil field remain relatively stable at USD $68.69 (CND $92.05).
Update on the Company's Prospectus filing - The Company filed a prospectus is accordance with the provisions of Canadian National Instrument 41-101, as set out in its news release dated January 15, 2019. The Company's Prospectus was resubmitted on July 24, 2019. Final acceptance of the prospectus and the listing will be subject to the review and approval of the British Columbia Securities Commission and the Canadian Securities Exchange (the "CSE"), respectively. The Company believes that listing on the CSE will offer greater opportunity for financing, visibility and liquidity to shareholders, while enabling the Company to discuss growth opportunities with a wide range of Canadian based institutions specializing in the microcap resource sector. If and when listed on the CSE, the Company's shares will also qualify for tax benefits under certain Canadian tax rules for registered savings and retirement accounts, for which they are not presently eligible.
About the Company
The Company has several interests oil and gas assets in Turkey and Bulgaria. In Turkey, these include an 18% interest in the Cendere oil field, a 49% interest in the SASB offshore gas field, a 100% interest in 42,833 hectares of oil exploration blocks (Derecik Exploration Licences) covering the northern extension of the prolific Zagros Basin, Turkey and the Vranino 1-11 block, Bulgaria, a prospective unconventional natural gas property.
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