View
10
Download
1
Category
Preview:
Citation preview
Corporate
Presentation
CSE : TCF
OTC : TCFF
FSX : 3P2N
Trillion’s Akçakoca Gas Production Platform, SASB gas field, Black Sea, (49% ownership)
www.trillionenergy.com
Q2 2020
2Copyright Statement 2
Important InformationCertain information in this presentation may constitute "forward-looking" information which involves known and unknown risks, uncertainties, and other factors which may cause the actual results,performance or achievements of Trillion Energy Inc. (“Trillion”), or industry results, to be materially different from any future results, performance or achievements expressed or implied by suchforward-looking information. When used in this presentation, such information uses words such as "may", "will", "could", "would", "expect", "believe", "plan", "intend" “estimate(s)” and other similarterminology. This information reflects current expectations regarding future events and operating performance and speaks only as of the date of this presentation. Forward-looking information involvessignificant risks and uncertainties, should not be read as a guarantee of future performance or results, and will not necessarily be an accurate indication of whether or not such results will be achievedand accordingly undue reliance should not be put on such statement. A number of factors could cause actual results to differ materially from the results discussed in the forward-looking information.Although the forward-looking information contained in this presentation is based upon what management of Trillion Energy believes are reasonable estimates and assumptions, Trillion Energy cannotassure readers that actual results will be consistent with the forward-looking information. In particular, this presentation contains forward-looking information pertaining to the following: the treatment ofTrillion Energy under the Government of Turkey's regulatory regimes and laws; the outcome of commercial negotiations; drilling and completion of wells, flow rates of wells; gas recoverable fromwells; facilities costs and the timing and method of funding thereof; timing of development of undeveloped reserves; Trillion Energy future oil and natural gas production levels; the future performanceand characteristics of Trillion Energy's oil and natural gas properties; the estimated size of Trillion Energy's potential oil and natural gas reserves; the recoverability of natural gas reserves andresources; projections of market prices and costs; supply and demand for oil and natural gas; expectations regarding the ability to raise capital and to continually add to reserves through acquisitions,exploration and development activities; and future capital expenditure programs and the timing and method of financing thereof.
With respect to estimates and forward-looking information contained in this presentation, Trillion Energy has made assumptions regarding, among other things: acquiring sufficient funding to close theacquisition of the Turkish assets in a timely manner, regulatory approval for the acquisition, future prices for natural gas; the gas recovery rates and economics thereof; gas content andconcentrations; permeability; Trillion Energy's ability to generate sufficient cash flow from operations, access to debt and/or equity financing to meet its future obligations; the regulatory framework inTurkey in which Trillion Energy expects to conduct its business; and Trillion Energy's ability to obtain qualified staff and equipment in a timely and cost-efficient manner. Projections are based on theassumption that funding is received to close the acquisition and future work programs and that future work programs as described herein occur in a timely manner.
The actual results could differ materially from those anticipated in this forward-looking information as a result of the risk factors set forth below and elsewhere in this presentation: volatility in marketprices for oil and natural gas; the potential for the return of conditions persisting during the recent global crisis and economic downturn; liabilities inherent in oil and gas operations; uncertaintiesassociated with estimating oil and natural gas reserves; competition for, among other things, capital, acquisitions of reserves, undeveloped lands and skilled personnel; incorrect assessments of thevalue of acquisitions; geological, technical, drilling and processing problems; fluctuations in foreign exchange or interest rates and stock market volatility; changes in the laws or application thereof bythe Government of Turkey, including tax and environmental requirements; business plans and strategies; capital expenditure programs and the timing and method of financing thereof; the ability ofTrillion Energy to achieve drilling success consistent with management's expectations; operating costs; net present values of future net revenues from reserves; future production levels of the TrillionEnergy's assets; timing and bringing on production; expected plans and costs of drilling; drilling inventory and presence of oil pools or gas accumulations; projections of costs; supply and demand foroil and natural gas; ability and cost of increasing plant capacity; expected levels of royalty rates, operating costs, general and administrative costs, cost of services and other costs and expenses;expectations regarding the ability to raise capital and to continually add to reserves through acquisitions, exploration and development and other factors discussed in Item 1A of our 2016 Form 10Kand other filings.
The forward-looking statements contained in this document speak only as of the date of this document. Except as expressly required by applicable securities laws, we do notundertake any obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. The forward-looking statementscontained in this document are expressly qualified by this cautionary statement.
3Copyright Statement 3
Important InformationNotes To Disclosure of Reserves and Resources:
Statements made herein regarding Reserves, Prospective Resources, Net Present Value (NPV), Discovered petroleum initially-in-place, UPIIP, DPIIP for the SASBProject were derived from the (draft) report titled “RESOURCES ASSESSMENT AND EVALUATION OF SOUTH AKCOKOCA SUB BASIN” prepared by GLJ PetroleumConsultants having an effective date of December 31, 2019 “GLJ Report” .
"Total Petroleum Initially In Place" means DPIIP + UPIIP. When calculating DPIIP, there is no material production or reserves associated with these properties. Contingent resourcesis the only category of DPIIP that has been categorized as recoverable. Prospective resources is the only category of UPIIP that has been categorized as recoverable. There is nocertainty that it will be commercially viable to produce any portion of the contingent resources referred to in the tables above. There is no certainty that any portion of the prospective resourcesreferred to in the tables above will be discovered. If discovered, there is no certainty that it will be commercially viable to produce any portion of these resources. (2) Certain volumes arearithmetic sums of multiple estimates of contingent & prospective resources, which statistical principles indicate may be misleading as to volumes that may actually be recovered.Readers should give attention to the estimates of individual classes of resources and appreciate the differing probabilities of recovery associated with each class as explained herein.
WI means Working Interest in the SASB Project. Our current working interest is 49% of the SASB Project. TPAO currently has the other 51% working interest. 100 % WI means the total workinginterest of all parties in the SASB Project.
“Proven” reserves are those reserves that can be estimated with a high degree of certainty to be recoverable. There is a 90% probability that the actual remaining quantities recovered will equal orexceed the estimated proved reserves. “Probable” reserves are those additional reserves that are less certain to be recovered than proved reserves. It is equally likely that the actual remainingquantities recovered will be greater or less than the sum of the estimated proved plus probable reserves. “Possible” reserves are those additional reserves that are less certain to be recovered thanprobable reserves. There is a 10% probability that the quantities actually recovered will equal or exceed the sum of proved plus probable plus possible reserves. "Discovered petroleum initially-in-place" or "discovered resources“ or "DPIIP“ Definition: That quantity of petroleum that is estimated, as of a given date, to be contained in known accumulations prior to production. The recoverableportion of discovered petroleum initially-in -place includes production, reserves and contingent resources; the remainder is unrecoverable.
“Developed” reserves are those reserves that are expected to be recovered from existing wells and installed facilities or, if facilities have not been installed, that would involve a low expenditure to putthe reserves on production. “Developed Producing” reserves are those reserves that are expected to be recovered from completion intervals open at the time of the estimate. These reserves may becurrently producing or, if shut-in, they must have previously been on production, and the date of resumption of production must be known with reasonable certainty. “Developed Non-Producing”reserves are those reserves that either have not been on production, or have previously been on production, but are shut-in, and the date of resumption of production is unknown. “Undeveloped”reserves are those reserves expected to be recovered from known accumulations where a significant expenditure is required to render them capable of production. They must fully meet therequirements of the reserves classification (proved, probable) to which they are assigned. P = proven undeveloped, PP = Proven + Probable undeveloped, PPP = Prove + Probable + Possibleundeveloped "Prospective resources“ Definition: Those quantities of petroleum estimated, as of a given date, to be potentially recoverable from undiscovered accumulations by application of futuredevelopment projects. Prospective resources have both an associated chance of discovery and a chance of development.
"Total petroleum initially-in-place", "total resources" or "TPIIP“ Definition: That quantity of petroleum that is estimated to exist originally in naturally occurring accumulations; equal to DPIIP plus UPIIP.It includes that quantity of petroleum that is estimated, as of a given date, to be contained in known accumulations, prior to production, plus those estimated quantities in accumulations yet to bediscovered.
"Undiscovered petroleum initially-in-place", "undiscovered resources" or "UPIIP“ Definition: That quantity of petroleum that is estimated, on a given date, to be contained in accumulations yet to bediscovered. The recoverable portion of undiscovered petroleum initially-in -place is referred to as prospective resources; the remainder is unrecoverable.
4Copyright Statement 4
Company Highlights
• Black Sea Natural Gas Project “SASB”
• 49% interest -joint operating committee runs project
• First development between 2007-2012 resulting in 41 Billion Cubic Feet (BCF) gas (US$301m**) produced to date
• Future development of 14 more wells planned which is expected to ramp up of revenue
• Recent 2020 GLJ Petroleum Consultants* report evaluated SASB as follows:
– Total Petroleum Initially In Place = 183.8 Billion Cubic Feet (BCF) of Gas (excluding past production)*
– 2P Reserves = 41 BCF (100% interest), Company’s 49% = 20 BCF; NPV 10 Reserves = US $79m (CND$1.28/Share P2 Reserves)
– Prospective Resources = 76.56 BCF (risked -100%), Company’s 49% interest = 37.5 BCF; NPV10 = US $153.9m
– NPV 10 Reserves = US $127m (49% interest)
• High regional Natural Gas Prices up to US $7.50 /MCF
• Vranino Unconventional Natural Gas Play, Bulgaria, up to 1TCF gas unrisked***
• Derecik oil exploration block licence, South Turkey
www.trillionenergy.com
**GLJ Report, December 31, 2019 **based on current market prices ***Netherland Sewell report 2017
SASB natural gas development project, Black Sea, Turkey “SASB”
Blue Sky Exploration Blocks
Posed for Substantial Growth as Black Sea Project Phases III &IV come online 2020-2022
Cendere Oil field, profitable stable production, significant reserves
5Copyright Statement 5
Corporate Snapshot
Capital Structure (as of March 1, 2020)
CSE Symbol
OTC Symbol
FSX Symbol
TCF
TCFF
3P2N
Common shares issued & outstanding87,628,966
Warrants (@ $0.30) 19,389,961
Stock Options 8,250,000
Total common shares (fully diluted) 97,620,966
Insiders ownership (fully diluted) 11,132,651
Recent share price$0.15
Capital raised to Sept 30, 2019 US $26.6m
Directors and Management Ownership 12.7%
409 – 221 W. Esplanade, North
Vancouver BC V7M 3J3
(General: 604.973.0579
Fax: 604.973.0280
Odyssey Trust Company 323-409 Granville St | Vancouver BC | V6C 1T2 P: 778.819.1183 I F: 800.517.4553 www.odysseytrust.com
Pacific Stock Transfer Company
6725 Via Austi Pkwy, Suite 300
Las Vegas, Nevada 89119
Professional Advisors
Legal
Audit (Canada & Turkey)
Exchange & Transfer Agents (Canadian & USA)
Suite 1140 - 1185 West Georgia Street,
Vancouver B.C., V6E 4E6
www.trillionenergy.com
Price Waterhouse Coopers
Atatürk Bulvarı,
Celal Bayar İş Merkezi
No:211/18 Kat:6 06680
Kavaklıdere
Ankara-Turkey
Experienced Management
Arthur Halleran PHD – 30 years experience oil & gas plays including founder
of Canacol Energy TSX-V:CNE stock price: $4.27- CND $750m mkt cap
David Thompson CMA –formerly of Sea Dragon Energy Inc.
(London exchange: SDX 21.00 GBP)
6Copyright Statement 6
Operations HQ
IRAQ
IRA
N
Project Locations –Turkey & the Black Sea
7Copyright Statement 7www.trillionenergy.com
• Gas prices in Turkey tied to
European gas prices
• Recent gas price adjustments to
us increased prices 15% to US
$7.60 net sale price per MCF
• 12.5% Royalty; 22% Corp tax
Strong Regional Gas Prices
World Energy Production
Our Focus is Natural Gas in Turkey Strong Macro-economic & Regional Fundamentals for Natural Gas Energy
8Copyright Statement 8
Natural Gas Prices in Turkey Vs. North Americad
Recent Turkey Gas Prices US $7.60 Vs. North America US $2.30 /MCF
www.trillionenergy.com
Cayagzi Gas
Processing Plant
Copyright Statement 9
cImage: Akcakoca Production Platform, one of four production platforms owned 49% by Trillion located at the SASB Natural Gas Field, Turkey
Our Flagship Project Black Sea Natural Gas Development Project “SASB” (Turkey)
• Profitable mature, natural gas development
• Successful Phase I & II development -produced 41 Billion
Cubic Feet (BCF) natural gas since 2007
• US $608m infrastructure in place of which US $186m
invested by our subsidiary PPETC
• Engineering report prepared by GLJ Petroleum in 2020
evaluated natural gas reserves as:
• 2P Reserves = 20 BCF, 49% WI (41BCF 100% WI)
• Prospective = 37.5 BCF 49% WI (76.56BCF 100% WI)
• NPV 10 of 2P Reserves US $78m (49% WI)
• Our Interest is 49% of the Play
• Expected to be profitable as production ramps up
• 12,387 Hectare lease licensed & permitted to 2031
www.trillionenergy.com
10Copyright Statement 10
Black Sea Gas Field, Phase I & II Development OverviewInitial Gas Field development occurred between 2004 – 2012
• Shallow water, drilled using jack-up rig
• 17 wells drilled during Phase I
• Three offshore platforms installed during Phase I
• 6 Wells drilled during Phase II and one offshore platform
installed (Akcakoca)
• 82% success rate in drilling on 3-D seismic prospects
• 10 wells tied into pipeline from four offshore platforms
• 41 BCF of Gas produced from 2007 to date (100%) having a value
at current gas prices (US$7.60) of USD $311m
• Trillion through PPETL historically had a 36.75% interest in the field;
in 2017 our interest increased to 49% of SASB
• Gross Gas Production from the 10 wells has declined since 2012,
workovers and new wells are required to significantly increased
production from the field to realize potential
• Production Lease covered by 300km2 3D and 2275 KM of 2D
• Good quality, high resolution, survey with gas-bearing sands
indicated, additional amplitude supported, structural &
stratigraphic traps identified
• 3D Reprocessing to occur in 2020 in contemplation of Phase
IV drillings identified by 3D
www.trillionenergy.com
3D and 2D Seismic generated pre-2008
• 8 natural gas prospects defined by 3D seismic contain a
best estimated P50 76.5 BCF of recoverable and will be
drilled in Phase III & IV
• 5 new gas wells (undeveloped discoveries) + recompletions
of existing wells with best estimated 40.1 BCF recoverable
gas (value US $300m+) to be brought into production in
Phase III development
23 Wells drilled between 2004 & 2012
Several Discoveries & 3-D Seismic indicated
prospects left for future development
10 wells put into production (2008 – 2012)
11Copyright Statement 11
Image: 2D & 300 KM 3D Seismic lines over concession area, North Western Black Sea, South Akcakoca Sub-Basin
www.trillionenergy.com
Windowed Seismic Characteristics 3D Seismic Covers 100% of lease
3D Top Akcakoca Depth Map
Top Akcakoca Depth Map
Deviated wells drilled from
Akcakoca Platform using 3D
82% + Drilling Success Rate on SASB License AreaAll natural gas discoveries were made by targets identified using 3-D Seismic
• 3D Seismic covers 100% of license area and beyond (300km2)
• All present discoveries based on AVO anomalies on 3D seismic – multi layered sandstone (Eocene KusuriAkcacoca sandstone)
• Of the 23 wells drilled based on 3D seismic, 20 tested positive for natural gas
• The 3D seismic processing is 10 + years old now and Company plans to reprocess seismic using more advanced technology to refine drilling targets to improve success rate
• At present, there are 8 prospects identified using 3D seismic for drilling, which will be refined by 3D reprocessing and drilled during Phase III / IV (see page 14 herein)
• Most likely case is the prospects identified using 3D will yield 76.4 BCF in recoverable gas (100%)
• Most targets are at about 90m water depth
12Copyright Statement 12
SASB Natural Gas Project Map & Photos Extensive Infrastructure Built during Phase I & II (2004 - 2012)
(Water Depth)
Four Phase Development Plan– 2 Phases completed to
date. Existing Phase I & II infrastructure is shown below:
Akçakoca Cayagzi Onshore Gas
Processing Facility
18 Km of subsea
pipeline installed
Dogu Ayazli Platform*
(1 of 4 platforms)
Cayagzi Onshore Gas
Processing Plant*
23 wells, four
platforms*
12,387 Hectare Development Lease
Licensed & Permitted to 2031*
US $608m* CAPEX
invested to date (100%)
Phase I/II
www.trillionenergy.com
*Trillion’s interest is 49% Interest in the SASB Gas Field. Of the $608 million Capex expended to date, $180m were contributed by Trillion’s 100 % owned subsidiary, Park Place Energy Turkey Limited.
Phase I
• 17 Wells drilled
• 3 tripods installed
• 7 wells put on
production
Phase II
• 6 wells drilled
• Akcakoca platform
installed
• 3 wells put on production
13Copyright Statement 13
Details:
• Trillion’s 100% owned subsidiary
PPETL invested US $186m* of the
total US $608 million CAPEX
• Substantial infrastructure built 2007-
2012, including: 23 wells, gas
pipelines, gas processing plants,
offshore platforms
• 41 BCF Gas produced from this
investment to date
• No reinvestment /development has
occurred since 2012; the project now
requires further CAPEX for Phases III
and IV to be expended
Black Sea Natural Gas Field – Phase I /II Dev Costs
CAPEX/Cost Item Cost (100%)
Seabed surveys (2D Seismic 2002 3D Seismic 2004-5 2D Shallow
Seismic, 2D Seismic 2005-6, Akçakoca Pipeline Survey, Akçakoca,
Soil Boring, 2D Seismic 2008)
$ 15,487,607
Well Drilling (2008) (Ayazlı # 1 – 5, Akkaya # 1 – 3, Akcakoca #1-4,
Çayağzı, Doğu Ayazlı # 1, North Akkaya, Batı Eskikale, Alapli # 1,
Bayhanlı # 1, Guluc # 1 etc.)
$ 238,340,515
Well Drilling (2011) (Dogu Akkaya 1, Bati Ayazli 1, Bati Ayazli 2,
Akcakoca # 5, South Akcakoca #1)
$ 62,293,343
Production Platform Construction (2008 - 2012) Akkaya, Ayazlı,
Akçakoca, East Ayazlı, Akcakoca Platform (2011)
$ 195,683,961
Onshore infrastructure (pipeline and gas plant) (2008) Offshore
Pipeline, Onshore Facility, Process Plant Start Up, Onshore Pipeline.
$ 96,948,017
TOTAL PROJECT CAPEX INVESTED TO DATE (100%) $ 608,753,443*
81% of the total US $750m SASB Project Dev Costs (100% interest) have
been incurred to date in Phases I & II, as follows:
www.trillionenergy.com
*Capex of $608m includes funds contributed by Trillion’s 100 % owned subsidiary, Park Place Energy Turkey Limited, and other interest holders over time since
commencement of the project. Park Place Energy Turkey Limited contributed $186m
14Copyright Statement 14
SASB Gas Field Future Development Costs
Details:
• TOTAL CAPEX for Phases III & IV is
US$140M, currently we are responsible for
49% of this amt = US $68.7m.
• ACTUAL CAPITAL REQUIRED IS MUCH
LOWER = US $26.7m (for our 49%), as the
remainder of dev. costs will be paid for through
cash-flow from production brought on-line
during the first 18 months and development is
staged over a 2 yr time frame
• PHASE III/ IV DEV COSTS INCLUDE: 14 new
wells, subsea tie-ins to existing platforms and
recompletions of existing producing wells
• POTENTIAL REVENUE STREAM based on
116 BCF over life of project (100% interest),
could exceed $1b
CAPEX Phase III -2020 to 2021 Cost (100%)
Seismic reprocessing $ 500,000
Mobilize and demobilize Rig
Drill 4 additional wells
1,540,000
31,000,000
Recomplete Mid-ESKIKALE Well
Subsea-tie back to pipeline and Akçakoca Platform
4,500,000
12,500,000
Well Recompletions 3,500,000
Total $ 53,540,000
www.trillionenergy.com
Future Dev Costs are US $140m for Phase III & IV (100%):
CAPEX Phase IV -2021 to 2022 Cost (100%)
Mobilize and demobilize Rig
Drill 10 additional wells
$ 1,350,000
80,000,000
Offshore Platform modifications $5,000,000
Total $ 86,350,000
Our portion of Capex cost is 49% of total
15Copyright Statement 15www.trillionenergy.com
Developed and
Producing wells
Drilled & Tested Structures
Drilling Targets Identified using 3D
Mid-Eskikale Well (8.56
BCF ***)
GULUC-2 Well (4.27 BCF ***)
ALAPLI -2 Well
(3.47 BCF ***)
BAYHANLI -1 (8.49 BCF ***)
S
East & West Eskikele,
34.5 BCF*
South Akçakoca
26.2 BCF*
Bayhanli North
41.8 BCF*
Akçakoca-3, 5 Wells (9.67
BCF ***)
GULUC North
17.7 BCF*
*Green = Location of
Phase IV
Planned Wells (10)
**Tan = Prior Discoveries
/Wells to be put into
production in Phase III
*All figures are BCF. Prospective natural gas resources are UPIIP for 100%* interest, unrisked, net recovery unless otherwise indicated. Under the existing lease, we have a 49% interest in the
Proven, probable and possible reserves and prospective gas resources. Figures used are the most likely assessed case. See GLJ Petroleum report effective December 31 2019 for reserves and
June 30 2019 for prospective resources. Further information which is available upon request. See pages 2,3 herein, for further details, definitions and disclaimer regarding future looking statements.
Akçakoca -614.2 BCF*
AKKAYA -1A Well
(5.86 BCF ***)
SASB Gas Field –Phase III & IV Development MapHighlights of Undeveloped Discoveries & Prospect Resources
16Copyright Statement 16
SASB Gas Field – Future Development Timeline
www.trillionenergy.com
Phase III Drilling
Development of discoveries with
proven reserves and high impact
prospects:
• Recomplete three existing producing
wells to recover 15.5 BCF Gas
• Redrill undeveloped discoveries at Guluc,
Alapli, Bayhanli & mid-Eskikale -
recoverable 24.8 BCF
Phase IV
2020 2020 -2021 2021 - 2022
Planning & Pre-work
Program Tasks
Potentially acquire
additional 51% of
SASB to bring total
ownership to 100%
Secure Debt Financing
for Phase III/IV
Finalize development
program
Production from Phase III expected to commence mid-2020 which will yield substantial cash-flow to enable us to
fund Phase IV development and drillings without further capital raising.
Work generally consists of drilling field
extensions and prospects identified by 3-D
seismic to which we have an 82% success
rate & related pipeline tie-ins
Development of several additional high
impact prospects and discoveries:
• Drill wells to further delineate the
discoveries at Bayhanli and Eskikale (West
and East)
• Drill exploration wells at Akcakoca South
Akcakoca-6 and Guluc North
• c
17Copyright Statement 17
Our Other Oil & Gas Assets -Overview
• Profitable, positive cash-flow oil
field
• 135 bopd net production;
$234K/month net revenue to us
• We have a 19.6% Interest (except 3
wells=9.8%) ;
• long expected oil field life span
• NPV10% (Dec 31, 2018) Proven +
Probable is valued at $6 million*
total based on future production of
$13+ Million (our interest)
Cendere Oil Field (Turkey)
• 42,833 Hectares Oil Exploration
Block (100% interest)
• Extension of Iraq Zagros Basin into
Turkey - Proximate to several world
class oil fields located in Northern
IRAQ
• 2D seismic completed - several
leads and structures identified
• Requires exploration well(s) to be
drilled
Derecik Oil Exploration
(Turkey)
• 38,663 Hectares, Potentially 1 Tcf of
gas in place –unrisked -100%
interest
• Tight coal bed methane and sands
• Over 200 + historical resource
exploration wells drilled prior to our
receiving the block
• Exploration well to be drilled and or
re-entries to occur during 2023
Vranino 1 – 11 (Bulgaria)
www.trillionenergy.com
18Copyright Statement 18
Cendere Oil Field, TurkeyLong Term, $ Profitable, Low Cost Oil Production
Structure contours on Top Mardin Group oil reservoir (TVDSS)
Trillion has a 19.6% Interest (except 3 wells in which our interest is
9.8%) in this stable, profitable oil field, which net Trillion USD $138k
per month after operating costs
Long term production reserves & cash flow expected
Oil Reserves are 1.5 million barrels (0.277 million barrels net
Trillion Energy) which remain to produce. Our share of current
production nets us 127 barrels of oil per day after operating costs.
Gross Value of Trillion’s interest in proven oil reserves = USD $13.85
million (undiscounted) in the Cendere field
Currently evaluating horizontals wells and new vertical wells for
field extension and substantial 5x production increase
K. Karakus Oil
Field, contiguous
with Cendere
Trillion Energy
Land Block
• 45 MM barrels of Oil originally in Place (OIP) (100%)
• 20.7 MM barrels of oil cumulative production (100%)
www.trillionenergy.com
19Copyright Statement 19
Derecik Licence, Turkey -OverviewHigh Impact Oil Field Prospect in the Oil Rich, Zagros Basin Fold & Thrust Belt
Trillion
Energy
Marathon Mirawa-
1 Discovery: 2013
3 DST each from 3,200
to 3,900 bopd
1 DST 20-30 MMcf/d
1 DST 1,700 bbls
condensate
Lies within NW extension of
Zagros fold & thrust belt which
has some of the largest oil
reserves in the world (IRAQI
side)
Geologically similar to areas of
NE Iraq and W Iran where very
large oil fields are producing
Fiscal Terms are only 12.5%
royalty and 2.5% GOR
42,833 Hectares licence area
Prospective Resource: Est. 1b
barrels (unrisked) (7 leads
identified)
Monte Carlo Simulated MMBbls (Un-risked)
P90 P50 P10Swanson’s
Mean
Prospect
“A”
Jurassic
15.9 30.8 54.1 33.3
Prospect
“A”
Triassic
28.3 52.1 92.4 57.0
Prospect
“A” Sub-
thrust
16.3 30.5 52.7 32.9
Prospect
“B” Cretaceous
29.8 57.3 92.8 59.7
Prospect
“B”
Jurassic
33.8 59.5 96.5 62.9
Prospect
“B”
Triassic
46.9 82.2 136.0 87.8
Northern
www.trillionenergy.com
20Copyright Statement 20
Derecik Licence, Turkey Exploration Potential proximate to several major discoveries
Turkey
Northern Iraq
Zagros Basin
504,000,000 bbls 2P
(unrisked)
107,300 bopd
Expected production
30,000 bopd
639,000,000 bbls 2P
12.5 to 13 billion bbls in
place
Trillion Energy
Derecik Block
Our Prospect #6
Our Prospect #3
Prospect 6 Prospect 3
www.trillionenergy.com
Th
ird
Part
y M
ajo
r D
isco
veri
es
21Copyright Statement 21
Vranino Gas Exploration Licence, Bulgaria1-11 Block, CBM natural gas exploration play
World Class Resource Potential
100% interest in 98,205 acres (397
km2) license in NE Bulgaria for CBM
May contain up to 1 TCF natural
gas in place (un-risked) – per
Netherland & Sewell report Natural gas charged coal seams in
concentrated area of license present
opportunity for Coalbed Methane
(CBM) play
Anticipating regulatory approval to
commence operations in 2020
High Average Net Coal Footage per Well Ready Market
Over 60 substantial gas charged coal
seams
Depth ranges 1200-2200m
Potential for horizontal lateral wells
Gas pipeline connection within 15km
Excellent fiscal terms
High gas demand, high gas prices
(>$8/mcf)
Extensive Data map
Over 220 wells drilled 1960-1990 to assess deep coal mining potential and which identified
significant natural gas deposits
www.trillionenergy.com
22Copyright Statement 22
Our Projects Development History, Milestones & Timelines
Other Milestones /History Future MilestonesSASB Project Development History
Turkey2004 -2012 Phase I&II Development of the
offshore gas field in the Black Sea “SASB” occurs,
where our subsidiary PPETL invested US $186m+
for a 36.75% interest (others invest the balance,
for a total CAPEX of US $608million)
2007 – present, SASB gas field produces 41+/-
BCF Natural Gas (100%) from Phases I & II
2017/18 – Trillion acquires 100% of PPETL and
then increases its interest in the SASB Gas Field
from 36.75% to 49% through PPETL
2018 /19 - $4m Capital Raises completed at $.10 to
$.15 per share
2020 – Listing on CSE stock exchange effective
Feb, 2020
O 2020 - Phase III redevelopment the SASB gas
field, resulting in ramp up of production & cash-flow
O 2019 Complete project financing for SASB,
increase our interest from 49% to 100% of Project
2021 Drill exploration well Turkey Derecik license
2023 Drill exploration well Bulgaria license
O 2021 Phase IV development of SASB gas field
occurs, with drilling of new wells identified by 3-D
SeismicBulgaria
2010 - Awarded permit for 100% of the Vranino
1-11 License
2017 - License agreement for natural gas
exploration project signed
2018 - Work commenced on environmental
assessment which is ongoing
2019 - Trillion completes SASB data evaluation for
Phase III /IV of the SASB gas field development
Corporate
www.trillionenergy.com
Long-Term Plans
23Copyright Statement 23
PhotoPhoto
Directors & Management Team
Dr. Arthur Halleran,
President, CEO
& Director
Dr. Halleran has served as a director of the Company since October 4,
2011. He has a Ph.D. in Geology from the University of Calgary, and
has 38 years of petroleum exploration and development experience.
His international experience includes countries such as Canada,
Colombia, Egypt, India, Guinea, Sierra Leone, Sudan, Suriname,
Chile, Brazil, Bulgaria, Turkey, Pakistan, Peru, Tunisia, Trinidad
Tobago, Argentina, Ecuador and Guyana. Dr. Halleran’s has worked for
Petro-Canada, Chevron, Rally Energy, Canacol Energy and United
Hydrocarbon International Corp. In 2007, Dr. Halleran founded Canacol
Energy Ltd., a company with petroleum and natural gas exploration
and development activities in Colombia, Brazil and Guyana (TSX:CNE,
$4.25; CND$750m market valuation as at Oct 15 2019) a company
which made a billion dollar natural gas discovery in Columbia.
Mr. Thompson has thirty (30) years of financial experience in the oil
and gas industry. He successfully founded an oil trading company in
Bermuda with offices in the U.S. and Europe and was responsible
for the company’s Turkmenistan production operations in the
Lhamov and Zhdanoy oil fields (offshore Caspian Sea - part of
Turkmenistan project) which discovered producing reserves of
365m barrels oil and 2 TCF gas and successfully raised over $100
million in equity. He is Managing Director of AMS Limited; a
Bermuda based Management Company. He has served as
Founder, President and CEO of Sea Dragon Energy Inc. (London
exchange: SDX 21.00 GBP), Financial Director of Forum Energy
Plc (AIM) and SVP at Larmag Group of Companies. Mr. Thompson
is a Certified Management Accountant (1998).
David Thompson,
Chief Financial Officer
& Director
www.trillionenergy.com
24Copyright Statement 24
Directors & Management Team
Ozge Karalli – Finance
Director (Turkey)Mrs. Karalli began her career in Deloitte
as tax compliance auditor where she
was also audit senior and supervisor
between 1998 and 2004. She joined
Toreador in 2004 as Accounting
Manager and Financial Controller,
before becoming the Finance Director of
Tiway Oil in 2010. Mrs. Karalli has a
Bachelor of Economics degree
from Bilkent University and has been a
Chartered Public Accountant in
Turkey since 2002.
Kubilay Yildirim – General Manager
(Turkey), DirectorMr. Yildirim has over the past 22 years had hands on
experience in drilling, production, seismic acquisition,
and logistics for both onshore and offshore projects in
Turkey. He has spent most of career with this company
and its predecessor companies: Madison, Toreador
and Tiway.
He has also been involved in sales and divestitures of
assets and has taken on significantly more managerial
positions until being promoted to General Manager in
2009. Mr. Yildirim has a degree in Petroleum and
Natural Gas Engineering from Middle East Technical
University and an MBA from Bilgi University in
Istanbul.
Dr. Barry Wood – Director,
Advisorwhich he led to new exploration fairways in Tanzania, Syria and
Egypt through the application of his research in reservoir formation.
Since 2008, his experience has also included senior advisory
positions with companies such as Dana Gas, NPC (Egypt), Sea
Dragon (Egypt), and Maurel et Prom (Tanzania), among others, in
establishing new offices, reviewing and recommending new
opportunities, preparing contracts and managing geological and
geophysical programs. Dr. Wood holds a D. Phil from Oxford
University and is a member of the Geological Society of London, The
Petroleum Exploration Society of Great Britain, and the American
Association of Petroleum Geologists.
Photo
Dr. Wood has over 45 years’
experience in the upstream oil
and gas industry, having spent
the core of his career with
Shell Canada and Marathon
International Oil Company.
With Marathon he directed
asset evaluations across
Southeast Asia and the
Afro/Arabian regions, and
drilling campaigns in Egypt
and Syria for over 16 years. In
1998 he founded PetroQuest
International SA a private
exploration and advisory firm
www.trillionenergy.com
25Copyright Statement 25
Contact
Trillion Energy © 2019 25
Admin office (Canada)Suite 700
838 West Hasting Street
Vancouver, BC V6C 0A6
Phone numbers & WebsiteCanada: 1-778-819-1585 Turkey +90 . 312 . 441 80 02 (pbx)
info@trillionenergy.com
CEOArthur Halleran email: arth@trillionenergy.com
Cell: 1-250-996-4211
Head Office / Operations (Turkey)Turan Gunes Bulvari, Park Oran Ofis Plaza,
180-y, Daire:54, Kat:16, 06450,
Oran, Cankaya, Ankara, Turkey
Image: Drilling of Akçakoca well from offshore rig, SASB Gas Field, Turkey
General Manager, DirectorKubilay Yildirim email: kyildirim@parkplaceenergy.com
General Inquiriesinfo@trillionenergy.com
www.trillionenergy.com
Recommended