Miami, FL – August 24, 2020 (EmergingGrowth.com NewsWire) — EmergingGrowth.com, a leading independent small cap media portal with an extensive history of providing unparalleled content for the Emerging Growth markets and companies, reports on Trillion Energy International, Inc. (OTC Pink: TCFF)
Today the Black Sea’s largest ever natural gas discovery was announced, which is also one of Europe’s largest discoveries -a find with official estimates from Turkish government sources of 11 TCF and unofficially estimated as high as 26TCF natural gas, in the North Western Black Sea, Turkey.
The Tuna-1 well was drilled by TPAO, Turkey’s national gas company with a total well depth planned of 4.100m. 100m of pay was encountered to TD 3,500m and where 1,000 meters is still set to be drilled to assess two additional structures.
Turkish Officials announced they believe this discovery is a portion of a giant gas field and they will continue to drill to delineate the full extend and increase to the gas reserves, hence, the 26TCF estimate. “It is just the beginning” stated Turkish Government spokes person Ibrahim Kalin, We’re very hopeful that it will lead to other fields in the same area”.
If 26TCF is the size of the prize, the Tuna field is in the same super giant class as Europe largest gas field, the Troll field offshore Norway, which has estimates of between 36 TCF and 51 TCF of recoverable natural gas and in one of the top 20 largest offshore natural gas field discovered in the world.
The surprise find is expected to usher in a new frenzy of gas exploration in the Black Sea region that currently has one of the highest gas costs in the world -prices at 400% higher + than North America.
TPAO is partners with Trillion Energy in the SASB Gas field block with 49% to Trillion Energy, a junior public company (OTC Pink:TCFF CSE:TCF). Trillion Energy is in a unique position as it is the only non-turkish government entity with offshore blocks in Turkey and where Trillion Energy and TPAO own the only gas processing plant servicing the Black Sea, Turkey at this time.
Historically Trillion has expended US$180m+ for development of the SASB gas fields, where gas was discovered at about 1,200m depth over a decade ago. The SASB has currently produced about $350m in gas to date.
The new deeper Tuna gas discovery (total depth 3,600m) opens up serious new possibilities for larger discoveries on the SASB Gas Field, who in partnership with TPAO operate the SASB Gas Field, which is currently the only currently producing offshore gas field in Turkey.
The SASB Gas field is less than 150 km away from the Tuna discovery, thus, may benefit from new super giant gas field thought to be proximate to Tuna. The actual field size of the Tuna discovery is currently unknown. However, for comparison sake, the Troll gas field is 750km in area.
The SASB Gas field was Turkey’s first offshore gas development which has produced 41 BCF gas to date and to which redevelopment was planned for 2021 of existing shallow gas structures, where Trillion Energy intends to drill an additional 7 wells according to its June 30 2020 website. The alure of discovering new, deeper gas deposits at SASB in the unexplored sub-6,000-foot depths may now be irresistible. These depths are currently unexplored, although seismic anomalies have been detected. This leaves much to be discovered on SASB where happy surprises for investors who want to get in on the Black Sea play through Trillion’s publicly traded stock.
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