09:32 AM EST - Trillion Energy International Inc. : Is midway through drilling its first new well in the multi-well development at the SASB Natural Gas Field, offshore Turkiye (formerly Turkey). Trillion is now fully funded to execute the initial seven well development program, as well as an additional 10 wells using cashflow generated from the first seven wells. Natural gas production at SASB is expected to commence in November of this year, supplying vital new natural gas to the region. This supply is imperative, as multiple sources of gas in which Europe has previously depended on are going go offline, such as the Nord Stream I & II pipelines which are now non-operational suffering explosions last week and the Groningen field, owned by ExxonMobil and Shell has been forced to reduce production by the Dutch government to less than 2 BCM for 2023 - down from 4+ BCM for 2022. Also, last week Russia cut gas supplies to Italy, reduced Moldova’s gas supply by 30% and announced closure of the pipeline going through Ukraine to Europe. Trillion Energy International Inc.
shares C.TCF are trading unchanged at $0.44.
