A Vancouver-based micro cap just announced that it has signed a letter of intent with a U.S. investment fund to obtain up to $17.5 million U.S. in new financing to finance the development of new producing gas wells on the SASB natural gas field, Black Sea. Shares of Trillion Energy International Inc. (CSE:TCF) went flying following the bullish news.
Trillion is active in the oil and gas markets. It is an oil and gas exploration company focused on building a portfolio of international exploration and development projects in Turkey and Southeast Europe. The firm's focus is on recently acquired oil and gas producing assets in Turkey and a coal bed methane exploration license in Bulgaria. The company's Vranino project is situated in close proximity to a gas pipeline in northeast Bulgaria.
Traders were excited about the news as shares hit a session high of $0.46/share (+19.48%) following the news. This move is a strong continuation of the success the stock has had over the last year.
