Apr 28, 2022
We sat down with Trillion Energy’s CEO Arthur Halleran for a long-awaited sponsor update. Trillion’s Black Sea drill program has been funded via a recent oversubscribed C$18mm placement. The drill rig is on order and all necessary equipment and materials are paid for. Art anticipates spudding of the first well in July and he’s to have 17 producing wells in place. There’s also upside exploration potential as well, but Trillion is focusing on the proven reserves and production first.
Some dilution resulted from the required financing. However, unlike most such stories, the increased shares have been more than offset by the $18 (per thousand cubic feet) price they're getting, nearly triple last year's price. With recent geopolitical issues, there’s little chance that Natgas’s price will decline in the foreseeable future. Thus, the potential payoff to shareholders is substantial.
We also covered the company’s Bulgarian project. Art estimates there's 1 trillion cubic feet in this coal bed methane project. Bulgaria's Natgas price stands at a record high $27. The drilling technology to capture this gas is available and Art knows how to get it done.
The past pandemic year has been a difficult one for Trillion. Financing became difficult to finalize, but Art never lost faith. Now the road ahead is looking better than ever, which is why this company remains our largest holding. www.TrillionEnergy.com Ticker Symbols OTC: TRLEF — CSE: TCF