Trillion Energy International Inc. (CSE:TCF, OTCQB:TRLEF) announced that it has commenced its oil exploration seismic program for the first of its three Cudi-Gabar oil farm-in blocks in Southeastern Türkiye.
As announced by the company in July 2023, Trillion entered into a farm-in agreement with Derkim Poliüretan Sanayi ve Ticaret A.S. to earn a 50% working and revenue interest in the three oil exploration blocks by acquiring 351 kilometres of 2D seismic in 2023 and drilling four wells in 2024.
Trillion said on Thursday that equipment and staff were currently being mobilized onto the M47 c3 and c4 license areas (the M47 Block) to drill 3,750 12-meter deep holes. The holes will then be used to shoot dynamite-based seismic over the East to Northeast half of the M47 Block covering roughly 15,000 hectares, Trillion said.
Further, the company said it has entered into a contract for the acquisition of 2D seismic data for the M47 Block.
It said this data is critically important for the M47 Block because seismic has never occurred in the area where the new lines will be shot and the location is in close proximity, 11 to 12 km distance, to the recently discovered Sehit Aybuke Yalcin and Sehit Esma Cevik oil fields.
The acquisition of the 2D seismic data will commence in mid-November and conclude in December 2023, followed by the processing and interpretation of the data which the company estimated would take five to six months.
“We are excited to commence oil exploration in this new frontier, the emerging Cudi-Gabar oil province. The initial seismic data will be analyzed for anticline structures with seals to focus future drilling efforts,” Trillion CEO Arthur Halleran said in a statement.
“Trillion strives to maximize shareholder value through a mix of gas development at SASB and high impact oil and gas exploration through its farm-in on the three Cudi-Gabar oil blocks and expanding the SASB footprint.”
The company said a second seismic acquisition program for oil exploration blocks M46C and M46D is planned for 2024 following the completion of the seismic program on the M47 Block.
Trillion Energy is focused on natural gas production for Europe and Türkiye with natural gas assets in Türkiye and Bulgaria.
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