Mr. Al Thorsen reports

TRILLION ENERGY PROVIDES OPERATIONAL UPDATE

Trillion Energy International Inc. has provided this operational update for the SASB gas field.

Trillion is starting the SASB revitalization project now as all relevant equipment and supplies for the start of the operations arrive mid-April, 2024. As mentioned previously, a total of 49 metres of new gas pay will be perforated in Guluc-2, South Akcakoca-2, West Akcakoca-1 and Akcakoca-3 prior to the installation of the artificial gas lift (AL).

Shifting the start of the SASB revitalization project from the end of the first quarter to the beginning of the second quarter was the result of the only solution is the correct solution.

Previously, the SASB AL program consisted of progressing cavity pumps (PSPs), electrical submersible pumps (ESPs) and velocity strings. However, with new skilled personnel hired, that has changed to predominantly velocity strings for step 1 and years down the road a water pump installed to prevent future water loading. A velocity string is just a smaller-diameter production tubing as currently the new wells have 4.5-inch production tubing and the company will just thread 2-3/8ths-inch production tubing inside of the 4.5-inch tubing.

Al Thorsen stated: "From my experience, velocity strings are the best solution at this stage of the gas-producing wells as velocity strings are cheap to install, relatively simple to operate, have no moving parts and are well suited to high-gas-producing wells. These wells have large volumes of gas yet to produce and the velocity string is the first step; in the future five to six years from now when the wells have most of the gas produced, at that time, PCP pumps or ESP will be installed to extend the gas-producing life of the wells."

Installing velocity strings requires substantially less capital compared with installing PCPs and is much faster.

Further updates will be provided as SASB's gas production increases.

About Trillion Energy International Inc.

Trillion Energy International is focused on oil and natural gas production for Europe and Turkiye with natural gas assets in Turkiye. The company is 49-per-cent owner of the SASB natural gas field, a Black Sea natural gas development and a 19.6-per-cent (except three wells with 9.8 per cent) interest in the Cendere oil field. The company has a farm-in to earn 50-per-cent interest in three oil exploration blocks in southeast Turkiye.

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