Trillion Energy International Inc. (CSE:TCF, OTCQB:TRLEF, FRA:Z620) said on Thursday an independent evaluation estimated contingent and prospective oil resources for its Block M47 concession in southeast Türkiye, highlighting development potential ahead of planned drilling.
The assessment estimated 2C contingent resources of 27.6 million barrels of oil (MMbbl) at the North discovery, netting 24,186 thousand stock tank barrels (MSTB) to Trillion’s 29% working interest.
The North prospect carries an unrisked net present value discounted at 10% (NPV-10) of $733.5 million and a risked value of $594.2 million, based on an 81% chance of development, the company said.
Across the wider Block M47C3 and C4 area, total unrisked resource potential is estimated at 51.6 MMbbl net to Trillion, spanning the North, Central and Findık prospects, all targeting carbonate reservoirs in the Cretaceous Mardin Group.
The company said two wells drilled on the North prospect confirmed 32.4° API light oil, with 38 metres of net oil pay identified in one well and water saturation as low as 8%. Both wells were drilled on the structural flank, leaving the crest untested.
The block lies near several producing fields in southeastern Türkiye, including the Şehit Aybüke Yalçın oil field, one of the country’s largest onshore discoveries, as well as the Şehit Esma Çevik, Yağizoymak and Bulmuşlar fields.
For the Central prospect, Trillion reported P50 prospective resources of 13,093 MSTB net, with an unrisked NPV-10 of $412.9 million and a risked value of $127.3 million. The Findık prospect holds an estimated 7,895 MSTB net, with an unrisked NPV-10 of $247.2 million and a risked value of $88.4 million.
Trillion said it plans to begin drilling at the North discovery in 2027, targeting first commercial production by mid-year, with estimated well costs of about $3.5 million. Exploration wells at the Findık and Central prospects are scheduled for late 2026 and early 2027, respectively.