Mr. Scott Lower reports

TRILLION ENERGY ANNOUNCES ASSET DISPOSITION AND ROYALTY AGREEMENT

Trillion Energy International Inc., through a subsidiary, has entered into a sale agreement for all the issued and outstanding shares of Park Place Energy Turkiye Ltd. (PPET), which owns the company's licence interests in the South Akcakoca subbasin (SASB) natural gas project and the Cendere oil field.

Key elements of the sale transaction include: transfer of approximately $20-million (U.S.) in associated liabilities of PPET to the purchaser and retention of a 7-per-cent gross overriding royalty (GORR) on future production revenues from the licences to be paid to Trillion. The company will further benefit from eliminating $20-million (U.S.) legacy liabilities from its balance sheet, as well as further continuing capital and operational commitments tied to mature assets, while preserving long-term upside through royalty exposure.

Key terms of the royalty include: (a) effective when cumulative gross revenues from the licences postclosing exceed $7.5-million (U.S.); and (b) any future disposition of the licences will trigger crystallization of the royalty, requiring valuation and payment of 7 per cent of the gross value attributed to the licences in such disposition.

About Trillion Energy International Inc.

Trillion Energy is focused on oil and natural gas exploration and production in Turkey. The company has an agreement to earn a 29-per-cent working interest in the M47 oil exploration block (c3 and c4 licences), located in the Cudi-Gabar petroleum province of southeastern Turkey.

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