Company
CNSX:TCF
Dune Oil Corp is a Canadian oil exploration company focused on Türkiye. The company has an agreement to earn up to a 29% working interest in the M47 oil exploration block (C3 and C4 licences) located in the Cudi-Gabar petroleum province of southeastern Türkiye.
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For January 2022, the company is selling at US$13.07 million cubic feet (mcf) amid seasonal supply shortages and strong regional demand, compared to the average price of US$8.84/mcf in 2021
The company noted the combined net present value (NPV) for the 2P (proven and probable) gas reserves is US$169.3 million, up from the previous estimate of US$138.6 million
The company made the decision based on skyrocketing commodity prices and in advance of its anticipated 17-well drilling program planned for early 2022
The company reported revenue of US$879,000 during the three-month period to end September 2021, an increase of 78% year-over-year
The company said the redomicile is intended to better align Trillion's corporate structure with its current and future business activities and plans to fund development of its SASB Gas field off the shores of Turkey
The company said the redomicile is intended to better align Trillion's corporate structure with its current and future business activities and financing plans
The Canadian junior has a 49% interest in the SASB natural gas development project in Turkey, one of the Black Sea region’s largest undeveloped natural gas projects
The company said revenues are expected to continue to increase due to escalating natural gas prices in Turkey, which recently hit US$5.80 per million cubic feet (MCF).
The company said increases in commodity prices have improved cash flows and are expected to have a positive effect on its upcoming Saturn Rig drilling program at the SASB gas field
It is triggering the acceleration provision in all outstanding stock and purchase warrants issued during 2020 to provide additional working capital for the drilling program
The funds will be used to finance the development of new producing gas wells on the SASB natural gas field, Black Sea
The oil and gas producing company has hired a geophysical firm to assess additional gas resource potential of surrounding blocks
The report assessed oil reserves on the group's Cendere oil field as well as four developed, unproduced gas pools on the SASB gas fields, Black Sea
Trillion Energy CEO Arthur Halleran commented: “The best place to look for more gas is within the area you are already producing gas. We have substantial existing infrastructure in the area and good knowledge of the basin given our extensiv
Combining the production increase with higher crude prices, the oiler is now on track to exceed its 2019 oil revenues at the field
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In the Phase III work program, the plan is to sink five new wells at the shallow water asset and conduct two or more workovers
The analyst firm recently initiated coverage of the gas producer with a Speculative Buy rating
On October 17 this year, TPAO announced a further increase to the size of the Sakarya field as the Tuna-1 well encountered a further 30m of gas pay
The discovery, named the Tuna-1 field, was made by the Turkish national petroleum company (TPAO)
