Announcement • Jul 18
Trillion Energy International Finalizes Design and Tender of New 40-Kilometre 2D Seismic Acquisition Program on M47 Block
Trillion Energy International finalized the design and tender of a new 40-kilometre 2D seismic acquisition program on the M47c,d oil block in southeastern Türkiye, following its recently completed field scouting program, and is conducting a new seismic tender, with acquisition targeted for the summer of 2026. The finalized program covers a 40-kilometre 2D seismic survey across three priority exploration areas: the South Lead along the southeastern boundary, the North field discovery area, which includes the area around Çetinkaya-1 and Çetinkaya-2 wells drilled in 2025. The new program covers key areas where drilling is expected to assist in future development and exploration on the block. Tender documents have been prepared for relevant contractors. The program design builds on the Company's recently completed field scouting and high-resolution gravity study, which confirmed significant fault-related structures and priority leads across the license. The seismic lines have been positioned to tie into recent discoveries on the adjacent block. Technical specifications for the seismic tender are complete, and the tender is expected to commence shortly, with advance site preparation expected to shorten the acquisition schedule and lower program costs. The Company expects to acquire the seismic during late summer 2026 and to complete the new acquisition over approximately a six-week period, with data interpreted thereafter. Upon completion, the Company expects to announce its next drilling locations. 2C Contingent Resource of 27.6 MMbbl on the North Discovery, with an unrisked NPV-10 of USD 733.5 million. Approximately 11 km from the Sehit Aybüke Yalçin oil field, Türkiye's largest onshore oil discovery. Light oil discovery confirmed at 32.4° API gravity (2025). 38 metres of net oil pay at C-1 discovery well (2025). Total unrisked resource potential of 51.6 MMbbl net to Trillion across three prospects, with a North Prospect 3C estimate at an unrisked NPV-10 of USD 1.18 billion. Seven newly discovered analog oil fields in the Gabar region over the past five years. Analog Gabar regional fields produce a combined rate of over 80,000 bbl/d. 578,213 MSTB PIIP (100% interest) assessed by appraisal. The contingent and prospective oil resources referred to are estimates from an independent evaluation prepared by Chapman Petroleum Engineering Ltd. (effective December 31, 2025); they are estimates only, are not reserves, and there is no certainty they will be commercially produced or, in the case of prospective resources, discovered. The C2 case represents the "2C" (best estimate) Contingent Resources category for the North Prospect (Mardin Group), based on 82 gross drilling locations, with associated gross Contingent Resources of 27,641 MSTB light oil (24,186 MSTB net to the Company's appraised working interest). Chapman has assigned a Chance of Development of 81% to this case, derived from an assessment of economic viability, market access, production and transportation infrastructure, regulatory and social license, and corporate/external approvals. Estimated net present values (before income tax) associated with the 2C case, both before and after application of the Chance of Development, are set out above. Total unrisked resource potential (51.6 MMbbl net to Trillion). This figure aggregates the 2C Contingent Resources estimate for the North Prospect (27,641 MSTB) with the arithmetic-average Prospective Resources estimates for the Central Prospect (14,964 MSTB) and Findik Prospect (9,023 MSTB), representing Trillion's 29%. 578,213 MSTB PIIP (100% interest). Petroleum Initially-In-Place ("PIIP") is the estimated quantity of petroleum estimated to exist in the reservoir prior to production, on a 100% (gross property) basis, before application of a recovery factor. Only a portion of PIIP is classified as Contingent or Prospective Resources after application of the applicable recovery factor (20-40%). Are subject to the resource and economic estimates disclosed elsewhere in this release. References to the Sehit Aybüke Yalçin field and other nearby producing fields are based on publicly available information reported by Türkiye Petrolleri Anonim Ortakligi ("TPAO"). Analog field discoveries and production rates is historical information about third-party properties in the same geological trend and is not an estimate of resources attributable to the Company's M47 Concession.
