Trillion Energy International Inc. (CSE:TCF, OTCQB:TRLEF) has released the preliminary gas indications from the West Akcakoca 1 well, the fourth well in its multiwell program at the SASB gas field in Turkey's Black Sea.
The Canadian oil and gas producer noted that West Akcakoca 1 reached 3,839 metres (m) total measured depth (TMD) and true vertical depth (TVD) of 1,677m on March 10. During the drilling, it said an abundance of gas pay was discovered. Its analysis of logging while drilling (LWD) data suggests 55m of potential natural gas pay within six sands in the Akcakoca member (SASB production zone).
The logging while drilling data is consistent with the initial mud show results, Trillion told investors, adding that the seven-inch production casing will be run in and cemented this week. The initial perforation intervals are currently being selected to bring the well into production. Completion and flow testing will occur once the well is perforated, with revenue being generated before month-end.
After completion of the West Akcakoca 1 well, the rig will be skidded back to the Guluc-2 well for completion. The Guluc-2 well is scheduled to be put into production by the end of March, Trillion said.
"That is four for four success at SASB, as Trillion successfully executes its gas development program at SASB,” Trillion CEO Arthur Halleran said in a statement. “We eagerly await the gas flow rates and plan to put the wells into production, end of this month. As South Akcakoca 2, Guluc 2 and West Akcakoca 1 wells targeted resource prospects, not reserves, Trillion has significantly increased the proved reserves through the drilling program to date. We expect to release our updated reserve report by the end of the month.”
Trillion Energy is focused on natural gas production for Europe and Turkey, with natural gas assets in Turkey and Bulgaria. The company is 49% owner of the SASB natural gas field, one of the Black Sea's first and largest-scale natural gas development projects; a 19.6% (except three wells with 9.8%) interest in the Cendere oil field; and, in Bulgaria, the Vranino 1-11 block, a prospective unconventional natural gas property.
Contact the author at stephen.gunnion@proactiveinvestors.com