Trillion Energy Announces Light Oil Discovery

• Latest Announcement (2026-04-14): Trillion Energy announced a light oil discovery at the Çetinkaya-1 (C-1) well in Southeast Türkiye.
• Key Findings: Confirmed 32.4° API light oil within Cretaceous Beloka and Mardin Group carbonates.
• Reservoir Metrics: 76.6m gross reservoir interval, 38.0m net oil pay (50% net-to-gross). Fracture-enhanced permeability estimated at 5–50 mD.
• Technical Constraints: Drilling halted early at 2,455 metres due to loss of circulation; ~160+ metres of targeted reservoir remains unpenetrated.
• Future Plan: A sidetrack well (C-1ST) is planned to target a higher structural position where a larger oil column is interpreted.
• Testing Results: 30-barrel hydrochloric acid stimulation confirmed fracture permeability, reaching a 36% oil cut in the final swab campaign. No sustained flow rates provided yet.

• Positive Aspect: The discovery confirms the presence of light oil (32.4° API) in the M47 block, validating the exploration thesis for this specific prospect. This reduces geological risk compared to a dry hole.
• Negative/Risk Aspect: Drilling was halted prematurely due to loss of circulation, meaning the full reservoir potential is unproven. A sidetrack requires additional capital and time, increasing costs without guaranteed returns.
• Contextual Risk: The company faces a critical liquidity deadline (Sep 30, 2026) to raise CAD$10 million or face full repayment of $11 million in convertible debentures. This discovery does not immediately solve the cash crunch; it may help secure financing but adds execution risk.
• Asset Sale Context: The April 10 sale of Park Place Energy Turkiye removed $20 million in liabilities but converted direct production upside into a royalty (7% GORR) that only triggers after $7.5 million cumulative revenue. This limits immediate cash flow impact from legacy assets.
• Conclusion: While the discovery is technically positive, the operational hurdles and looming debt deadline temper the materiality. It is an expected step in exploration rather than a definitive commercial breakthrough at this stage.

• Overview: Trillion Energy International Inc. is an energy exploration company focused on Türkiye and the broader region. The company has been streamlining its portfolio by divesting mature assets (Park Place) to focus on high-potential exploration blocks.
• Flagship Project: M47 Block in Southeast Türkiye (Şırnak Province). Trillion holds a 29% working interest via an earn-in agreement requiring $15 million total investment ($9.5M in 2026, $5.5M in 2027).
• Development Status: Early exploration phase. The Çetinkaya-1 well is the first major test on this block with confirmed light oil presence but unproven commercial flow rates.