Trillion Energy International Inc. has reported a notable 12% increase in its total proved plus probable conventional natural gas reserves, achieving 62.3 billion cubic feet (Bcf) by the end of 2024. This growth is a testament to the company's strategic focus on expanding its energy portfolio, particularly in natural gas production within Türkiye. The net present value of these reserves, discounted at 10% (NPV10%), stands at $363.6 million, equating to $2.98 per common share. Despite this overall growth, the NPV10% of total proved reserves saw a 20% decrease to $106.8 million, indicating a shift in the company's reserve valuation dynamics.
In addition to its natural gas achievements, Trillion Energy has also experienced a slight increase in its oil reserves at the Cendere field, now totaling 247 thousand barrels (Mbbl). The company's interests in key energy fields—49% in the SASB natural gas field in the Black Sea and 19.6% in the Cendere oil field—underscore its strategic positioning in the competitive European and Turkish energy markets. These developments are part of Trillion Energy's broader efforts to explore and capitalize on oil opportunities in southeastern Türkiye and beyond, further solidifying its role in the global energy sector.
The reserve report not only highlights Trillion Energy's successful reserve growth but also reflects the company's commitment to sustainable development and exploration in the energy sector. For more information on Trillion Energy's projects and reserves, visit https://www.trillionenergy.com. This announcement is crucial for stakeholders and investors, as it provides insight into the company's financial health and strategic direction in the evolving energy landscape.
