Vancouver, British Columbia, February 25, 2022 (GLOBE NEWSWIRE) — Trillion Energy International Inc. (“Trillion” or “Company”) (CSE: TCF) (OTC: TCFF) (Frankfurt: 3P2N) provides the latest information on the SASB natural gas project in the Turkier territorial waters of the southwestern Black Sea in the light of the recent invasion of Ukraine and the outage of Nord. .. Stream pipeline. Currently, we do not anticipate any adverse effects from the conflict, and we plan to proceed with development as planned.
Europe imports about 40% of natural gas from Russia. On February 22, 2022, Germany announced that it had suspended the certification of Russia’s Nord Stream II natural gas pipeline to Europe. Nord Stream 2 was expected to be the main conduit for natural gas from Russia to Europe. Turkiye also imports about 50% of natural gas from Russia. We believe that Russia’s actions against Ukraine reveal a significant risk of natural gas supply to Europe and Turkey. Our SASB gas field development plan helps mitigate the risk of supplying natural gas to our region.
Similarly, given the invasion of Ukraine, many sources predict further increases in oil and gas prices due to new uncertainties in supply from Russia.
CEO Art Halleran will visit Turkey and Romania in March 2022 to work on a planned work program with relevant partners and suppliers to ensure that the project progresses quickly.
Update of US trading symbol
We plan to resume trading OTC QB in the US market today with the TCFFF symbol.
Trillion Energy International Inc. is an oil and gas producer with multiple assets in Turkey and Bulgaria. We are the 49% owner of the SASB natural gas field, one of the first major natural gas development projects in the Black Sea. Ownership of 19.6% (excluding 3 wells of 9.8%) of the Cendere oil field. In Bulgaria, Vranino 1-11 block, a future non-conventional natural gas asset.
Our NI51-101 and other reports on reserves and future resources as of December 31, 2020 can be found at www.sedar.com and our website. GLJ evaluated 2P reserves of approximately 41 BCF for 100% interest in the SASB gas field. Here, our net interest is the same 49%.
Art Hallelan: 1-250-996-4211
Precautions regarding forward-Statement and other information regarding this news release and our reservations
The accuracy of resource estimates is a function of the quality and quantity of data available, and the interpretation and judgment of engineering. The resource estimates shown here are considered reasonable, but understand that reservoir performance after the date of the estimates may justify an upward or downward revision. , You need to accept the quote.
The forecasts shown in this report are based in part on market price, exchange rate, inflation, market demand, and forecasts of government policy, and are subject to a lot of uncertainty and will be used here in the future. It can be very different from what you expected. The present value of revenues described in this report does not necessarily represent the fair market value of the resources valued here.
This release contains current expectations, estimates, and forecasts of our business and outlook, as well as management’s beliefs and forward-looking statements based on certain assumptions made by management. “Expect”, “Expect”, “Intention”, “Plan”, “Believe”, “Seek”, “Estimate”, “May”, “Should”, “Do”, etc. The words and variations of these words identify forward-looking statements. Such statements are made only as of the date of this document and are subject to change. We undertake no obligation to publicly revise or update any forward-looking statement for any reason. These statements include the listing of our prospectus on the Canadian Stock Exchange, potential impacts on the stock market, expansion and business strategies, expected growth opportunities, and the amount of funding needed to achieve them. Includes, but is not limited to. Above. Such statements do not guarantee future performance and are subject to certain risks, uncertainties, and assumptions that are difficult to predict. Therefore, actual results may differ materially and unfavorably from those expressed in the forward-looking statements as a result of various factors. These factors include unexpected securities regulatory challenges. COVID, oil and gas price fluctuations, Operational and geological risks, the ability of the company to raise the necessary funding developmentOpportunity results; technical or operating condition changes. The cost of extracting gas and oil is too high, which is uneconomical and may not be profitable. Also, other factors that are discussed from time to time in our Securities and Exchange Commission filings, including the recently submitted Form 10 Annual Report.K and subsequent reports on Form 10-Q, 8-K.. For a complete summary of oil and gas reserves information, please refer to Form F-1,2,351-101 submitted to. www.sedar.comRequest a copy of the reserve report dated October 31, 2021 and / or the future resource report dated October 31, 2021.
CBJ News Maker
TRILLION ENERGY INTERNATIONAL provides the latest information on Turkey’s gas projects in the light of the Ukrainian invasion. CanadianBusinessJournal
Source link TRILLION ENERGY INTERNATIONAL provides the latest information on Turkey’s gas projects in the light of the Ukrainian invasion. CanadianBusinessJournal