Trillion Energy International Inc【TCF】株式ニュース

Trillion Energy Launches $2 Million Private Placement to Advance M47 Oil Exploration; Announces 5:1 Share ConsolidationApril 17, 2026 9:00 AM
NewsfileVancouver, British Columbia--(Newsfile Corp. - April 17, 2026) - Trillion Energy International Inc. (CSE: TCF) (OTCQB: TRLEF) (FSE: Z62) ("Trillion" or the "Company") is pleased to announce that it intends to complete, subject to the approval of the Canadian Securities Exchange (the "CSE"), a non-brokered private placement to issue up to 13,333,333 units (the "Units"), on a post-Consolidation basis, of the Company for gross proceeds of up to $2,000,000 (the "Offering"). The Offering may include certain debt settlements on the same terms. Each Unit will be issued at a price of $0.15 per Unit (post-Consolidation (defined below)) and will consist of one common share in the capital of the Company (each a "Common Share") and one half of one common share purchase warrant (each whole warrant, a "Warrant") exercisable at $.25. Each Warrant shall be exercisable for a period of one (1) year from the date of issue. The Company may pay cash commissions to qualified finders or agents for up to 8% of the Units sold under the Offering. The Offering is designed to fund near-term work obligations under the Company's Definitive Farm-In Agreement on the M47 Concession, Parts C3 and C4, in Southeastern Türkiye - an asset that Chapman Hydrogen and Petroleum Engineering Ltd. recently evaluated at 2C Contingent Resources of 27.6 MMbbl with an unrisked NPV-10 of US$733.5 million net to Trillion's 29% working interest. The concurrent 5:1 share consolidation reduces Trillion's outstanding share count from approximately 208 million to approximately 41.6 million Common Shares, aligning the Company's capital structure with industry peers and strengthening its positioning ahead of an active drilling season."This financing provides the near-term capital needed to meet our M47 commitments and advance what we believe is one of the most compelling light oil exploration opportunities in Türkiye today," said Scott Lower, President of Trillion Energy. "The simultaneous share consolidation is a deliberate capital markets decision - reducing our share count to bring our structure in line with peers and create a cleaner foundation as we execute our 2026 and 2027 drilling programs. We welcome both new and existing shareholders to participate at what we view as an attractive entry point ahead of active newsflow."Proceeds from the Offering will be applied toward the following priorities: (i) contractual work program obligations on the M47 Concession under the Definitive Farm-In Agreement, being the principal asset in the Company's portfolio (USD$250,000-$400,000, representing a portion of the US$9.5 million 2026 funding tranche); (ii) investor relations activities (CAD$20,000); (iii) expenses related to the Offering; and (iv) general working capital and corporate purposes. In the event the Offering is not fully subscribed, proceeds will be applied first to satisfy work obligations on M47 and general working capital purposes. The Company is making the Offering available to subscribers under a number of available prospectus exemptions, including the accredited investor exemption, family and close personal friends and business associates of directors and officers of the Company. The Offering is also available to all existing shareholders of Trillion who, as of the close of business on April 17, 2026, (the "Record Date"), held shares (and who continue to hold such shares as of the closing date) in accordance with the provisions of the "existing security holder exemption" contained in the various corresponding blanket orders and rules of participating jurisdictions (the "Existing Shareholder Exemption").The Company advises that there are conditions and restrictions when subscribers are relying upon the Existing Shareholder Exemption, including, among other criteria: (a) the subscriber must be a shareholder of the Company on the Record Date (and still be a shareholder), (b) be purchasing the Units as a principal - for his or her own account and not for any other party, and (c) may not purchase more than $15,000 value of securities from the Company in any 12-month period. There is an exception to the $15,000 subscription limit. In the event that a subscriber wishes to purchase more than a $15,000 value of securities, then he or she may do so provided that the subscriber received suitability advice from a registered investment dealer, and, in this case, subscribers will be asked to confirm the registered investment dealer's identity and employer. Subscribers purchasing Units using the Existing Shareholder Exemption will need to represent in writing that they meet the requirements of the Existing Shareholder Exemption. There is no minimum subscription amount. As the Existing Shareholder Exemption contains certain restrictions and is only available in certain jurisdictions in Canada, others that do not qualify under the Existing Shareholder Exemption may qualify to participate under other prospectus exemptions, such as the accredited investor exemption. Any existing shareholders interested in participating in the Offering should contact the Company pursuant to the contact information set forth below.Additionally, the Company is also relying on the Exemption for Sales to Purchasers Advised by Investment Dealers, it confirms that there is no material fact or material change related to the Company which has not been generally disclosed. Unless the Company determines to increase the gross proceeds of the Offering, if subscriptions received for the Offering based on all available exemptions exceed the maximum Offering amount of $2,000,000, Units will be allocated pro rata among all subscribers qualifying under all available exemptions. The Company retains the right to accept or reject subscriptions. Should the Offering be oversubscribed it is possible that a shareholder's subscription may not be accepted by the Company. Additionally, in the event of an imbalance of large subscriptions compared to smaller subscriptions, management reserves the right in its discretion to favor large subscriptions over smaller shareholder subscriptions.The Common Shares and Warrants issued pursuant to the Offering will be subject to a four month and one day hold period. Completion of the Offering remains subject to the approval of the CSE.Consolidation Additionally, the Company wishes to announce that prior to the completion of the Offering, it will proceed with a consolidation of its outstanding Common Shares on the basis of five (5) pre-consolidation Common Shares for one (1) post-consolidation Common Share (the "Consolidation"). Any resulting fractional Common Share that is held by a holder of Common Shares will be cancelled, and the aggregate number of Common Shares held by such holder will be rounded down to the nearest whole number of Common Shares. Currently, a total of 208,122,285 Common Shares are issued and outstanding. Accordingly, when the Consolidation is put into effect, a total of approximately 41,624,457 post-Consolidation Common Shares would be issued and outstanding, assuming there are no other changes in the issued capital of the Company. All outstanding convertible instruments (including convertible debentures, options and warrants) will be adjusted on the equivalent ratio of the Consolidation. The Board of Directors believes that the Consolidation is a necessary and value-enhancing step in repositioning the Company as a focused oil exploration issuer. By reducing the outstanding share count from approximately 208 million to approximately 41.6 million Common Shares, the Consolidation brings Trillion's capital structure in line with comparable junior oil exploration companies and is expected to improve per-share metrics, broaden the pool of institutional and international investors eligible to hold the stock, and reduce per-share price friction ahead of the Company's active M47 drilling program. There is no name change in conjunction with the Consolidation, and the Company's trading symbol will remain the same. The Company expects its post-Consolidation Common Shares to commence trading on the CSE at the open of markets on or about April 22, 2026. ABOUT TRILLIONTrillion Energy International Inc. is a Canadian oil exploration company focused on Türkiye. The Company has an agreement to earn a 29% working interest in the M47 Concession (C3 and C4 licences) located in the Cudi-Gabar petroleum province of Southeastern Türkiye, where two wells (Çetinkaya C-1 and C-2) have confirmed 32.4° API light oil in the Cretaceous Mardin Group carbonate reservoir. An independent evaluation by Chapman Hydrogen and Petroleum Engineering Ltd., effective December 31, 2025, assigned 2C Contingent Resources of 27.6 MMbbl with an unrisked NPV-10 of US$733.5 million and total unrisked contingent and prospective resources of approximately 40.5 MMbbl net to the Company's 29% working interest. More information may be found on www.sedarplus.ca, and on our website at www.trillionenergy.com. Forward Looking Information and Risk Factors This news release contains statements and information that may constitute "forward-looking information" within the meaning of applicable securities legislation, including statements identified by the use of words such as "will", "expects", "positions", "believe", "potential" and similar words, including negatives thereof, or other similar expressions concerning matters that are not historical facts. Such forward-looking information is not representative of historical facts or information or current condition, but instead represent only the Company's beliefs regarding future events, plans or objectives, many of which, by their nature, are inherently uncertain and outside of the Company's control. Generally, such forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or may contain statements that certain actions, events or results "may", "could", "would", "might" or "will be taken", "will continue", "will occur" or "will be achieved". The forward-looking information contained herein may include, but is not limited to, information concerning the completion of the Offering, the anticipated use of proceeds from the Offering, the completion of the Consolidation, the anticipated post-Consolidation share count, the expected commencement of post-Consolidation trading on the CSE, and the ability of the Company to attract additional investors.By identifying such information and statements in this manner, the Company is alerting the reader that such information and statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such information and statements. Some of these risks include, but are not limited to, the risk that the Offering is not completed on the terms described or at all, the risk that regulatory approval of the CSE is not obtained, the risk that the Offering is not fully subscribed, the risk that the Consolidation does not achieve its intended purpose of attracting additional investors, and the risk that the use of proceeds differs from that currently anticipated.Additional information regarding risks and uncertainties of the Company's business are contained under the heading "Risk Factors" in the Company's Annual Report on Form 20-F for the financial year ended December 31, 2024 and the Company's other public filings which are available under the Company's profile on SEDAR+ at sedarplus.ca. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in the forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended.In connection with the forward-looking information contained in this news release, the Company has made certain assumptions. Although the Company believes that the assumptions and factors used in preparing, and the expectations contained in, the forward-looking information and statements are reasonable, undue reliance should not be placed on such information and statements, and no assurance or guarantee can be given that such forward-looking information and statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information and statements. The forward-looking information contained in this news release are made as of the date of this news release, and the Company does not undertake to update any forward-looking information and/or forward-looking statements that are contained or referenced herein, except in accordance with applicable securities laws. All subsequent written and oral forward-looking information and statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by this notice.Requests for further information should be directed to:Scott Lower, President
David Thompson, Chief Financial Officer
Trillion Energy International Inc.
Suite 700, 838 West Hastings Street
Vancouver, B.C., V6C 0A6
Corporate offices: 1-778-819-1585
e-mail: info@trillionenergy.com
Website: www.trillionenergy.com To view the source version of this press release, please visit https://www.newsfilecorp.com/release/293077
Original: Trillion Energy Launches $2 Million Private Placement to Advance M47 Oil Exploration; Announces 5:1 Share Consolidation

Trillion Energy Announces Independent Resource EvaluationApril 16, 2026 7:25 AM
NewsfileHighlights include 27.6 MMbbl 2C (unrisked) Contingent Oil Resource to Trillion on North Lead Discovery;Vancouver, British Columbia--(Newsfile Corp. - April 16, 2026) - Trillion Energy International Inc. (CSE: TCF) (OTCQB: TRLEF) (FSE: Z620) ("Trillion" or the "Company") announces the results of an independent evaluation of contingent and prospective oil resources for Block M47C3,C4 in Southeast Türkiye, prepared by Chapman Hydrogen and Petroleum Engineering Ltd. ("Chapman") of Calgary, Alberta, in accordance with National Instrument 51-101 ("NI 51-101") and the Canadian Oil and Gas Evaluation Handbook ("COGEH") effective March 31 2026.Highlights2C Contingent Resource of 27.6 MMbbl (24,186 MSTB net) on the North Discovery, with an unrisked NPV-10 of US$733.5 million and a risked expected value of US$594.2 million (81% chance of development) net to Trillion's 29% working interest.Total Block M47C3, C4 unrisked resource potential of 51.6 MMbbl net to Trillion across three prospects - North (Contingent), Central, and Findik (South), all targeting the Cretaceous Mardin Group carbonate reservoir.Light oil confirmed at 32.4° API gravity at both C-1 and C-2 wells; 38 metres of net oil pay at C-1 with water saturation as low as 8%. Both wells were drilled on the structural flank; the structural crest remains untested.The M47 block lies approximately 11 kilometres from the Sehit Aybüke Yalçin oil field, Türkiye's largest onshore oil discovery, the Sehit Esma Çevik oil field (5-6 km), Yagizoymak field (approximately 2 km), and Bulmuslar field (approximately 4 km), all of which produce from the Beloka and Mardin Group carbonates and which are analogue fields.About The M47 ConcessionThe M47c,d Concession is located in Southeastern Türkiye, within the Cudi-Gabar petroleum province. The block contains three identified prospects: the North, Central, and Findik (South) prospects, targeting the Early Cretaceous Beloka and Mardin Group carbonate reservoirs. Two wells (C¸etinkaya C-1 and C-2) have been drilled on the North Prospect, both confirming the presence of 32.4° API light oil based on log analysis and independent petrophysical evaluation of recovered oil. The Company has the right to earn a 29% working interest in the M47 Concession following its agreement with Derkim Petrolüm, subject to fulfillment of the earn-in obligations.Resource Evaluation SummaryResource CategoryGross
(MSTB)Net
(MSTB)NPV10% Before Tax
(M$)Contingent Resources - 2C (North Prospect)27,64124,186733,522Contingent Resources - Expected Value (2C)22,30519,517594,153Prospective Resources - Before Risk (Arithmetic Average)23,98720,989660,171Prospective Resources - After Risk (Arithmetic Average)7,8876,901215,684 1 MMbbl = 1,000 MSTB. Monetary values in US dollars. M$ = thousands of dollars. "Gross" resources in this table represent the Company's 29% working interest share before deduction of royalties owned by others (i.e., before the 12.5% government royalty on the North Prospect); they are not 100% block volumes. "Net" resources represent the Company's 29% working interest share after deducting royalties. NPV discounted at 10% per year before income tax. North Prospect Contingent Resources are classified as Economic Contingent Resources (positive NPV at forecast prices) with a Project Maturity Sub-class of Development Unclarified. Risked Expected Value (2C) applies Chapman's assigned 81% Chance of Development to the unrisked 2C case in accordance with COGEH. Prospective Resource after-risk NPV applies Chapman's assigned Chance of Commerciality (Central 31%; Findik 36%) to the unrisked P50 (arithmetic average) case. Chance of Discovery: Central 38%, Findik 45%. Initial production rates assumed: 800 STB/d per well (Best Estimate), 500 STB/d (Low Estimate), 1,000 STB/d (High Estimate). See "Economic Assumptions" section below for price deck, cost and fiscal assumptions. Columns may not add precisely due to accumulative rounding. Full 1C, 2C and 3C Contingent Resource tables follow below.Table 2 - Contingent Resources (1C Low Estimate) - North Prospect, Block M47, Mardin GroupResource CategoryGross (MSTB)Net (MSTB)NPV10% Before Tax (M$)Contingent Resources - 1C (North Prospect)8,1487,129224,304Contingent Resources - Expected Value (1C)6,6005,774181,686 1C = Low Estimate (conservative). Expected Value (1C) applies 81% Chance of Development. Gross/Net definitions as per Table 1 footnote above. All values before income tax.Table 3 - Contingent Resources (3C High Estimate) - North Prospect, Block M47, Mardin GroupResource CategoryGross (MSTB)Net (MSTB)NPV10% Before Tax (M$)Contingent Resources - 3C (North Prospect)44,93039,3141,178,948Contingent Resources - Expected Value (3C)36,39331,844954,548 3C = High Estimate (optimistic). Expected Value (3C) applies 81% Chance of Development. Gross/Net definitions as per Table 1 footnote above. All values before income tax.North Prospect - Contingent Resources2C Contingent Resources of 27.6 MMbbl (24,186 MSTB net after royalty); unrisked NPV-10 of US$733.5 million; risked expected value of US$594.2 million (81% chance of development). Çetinkaya C-1 and C-2 confirmed 32.4° API light oil in Cretaceous Mardin Group carbonate reservoirs with 38 metres of net oil pay at C-1, water saturation as low as 8%, and confirmed duel matrix and fracture permeability. Central Prospect - Prospective ResourcesP50 Prospective Resources of 13,093 MSTB net to Trillion's 29% working interest; unrisked NPV-10 of US$412.9 million; after-risk NPV-10 of US$127.3 million (31% Chance of Commerciality; 38% Chance of Discovery). Seismic-confirmed four-way dip closure on trend with the North Prospect discovery. Findik (South) Prospect - Prospective ResourcesP50 Prospective Resources of 7,895 MSTB net to Trillion's 29% working interest; unrisked NPV-10 of US$247.2 million; after-risk NPV-10 of US$88.4 million (36% Chance of Commerciality; 45% Chance of Discovery). Four-way dip closure near the North Prospect and off-block producing fields. Planned Work ProgramThe North Lead discovery drilling programme is scheduled to commence in 2027, targeting first commercial production by mid-2027, at an estimated cost of US$3.5 million per well plus seismic and surface facilities. C1S (C-1 sidetrack well, is estimated cost of US$2 million) Production (subject to commerciality) is expected through primary depletion from vertical wells. The Findik-2 exploration well is planned for late 2026 (US$3.2 million) and the Central exploration well for late 2026/early 2027 (US$3.4 million).See below further information provided under Oil and Gas Disclosure — COGEH / NI 51-101 below.About the CompanyTrillion Energy International Inc. is a Canadian focused on oil exploration company focused on Türkiye. The Company has an agreement to earn a 29% working interest in the M47 oil exploration block (c3 and c4 licenses) located in the Cudi-Gabar petroleum province of Southeastern Türkiye. The earn-in includes funding a total of US$15 million for 2026 and 2027 work commitments. More information may be found on www.sedarplus.ca, and on our website. Contact
Scott Lower, President
Brian Park, Vice President of Finance
1-778-819-1585
E-mail: info@trillionenergy.com
Website: www.trillionenergy.com Cautionary Statement Regarding Forward-Looking Information and additional information provided under Oil and Gas Disclosure - COGEH / NI 51-101**Forward-Looking Information**This news release contains "forward-looking information" within the meaning of applicable Canadian securities laws, including but not limited to: statements regarding the planned exploration and development programme and timing thereof; the anticipated use of Managed Pressure Drilling and open-hole logging in the sidetrack wells; the interpretation of the C-1 structural position relative to the North Lead crest; the anticipated oil column and reservoir characteristics at the structural crest; anticipated completion of the sidetrack wells and the expected data to be obtained; and the Company's assessment of the analogy between Block M47C3,C4 and the Sehit Aybüke Yalçin and Sehit Esma Çevik fields.Forward-looking information is based on a number of assumptions including, without limitation: access to the block and rig availability; JOC partner approvals; prevailing oil prices and foreign exchange rates; the accuracy of analogies to nearby producing fields; the geological interpretation of available well and seismic data; and the availability of required services and equipment.Forward-looking information is subject to known and unknown risks, uncertainties and other factors, many of which are beyond the Company's control, that may cause actual results to differ materially from those expressed or implied by such forward-looking information. These risks include: geological risk that the structural crest does not contain the anticipated oil column; drilling and operational risk including lost circulation, stuck pipe, and equipment failure; reservoir risk that the fracture network is not connected to the structural crest; commodity price risk; regulatory risk in Türkiye; JOC partner risk; and currency risk. Readers are cautioned not to place undue reliance on forward-looking information.The forward-looking information contained in this news release is made as of the date hereof and the Company disclaims any obligation to update any forward-looking information, whether as a result of new information, future events or results or otherwise, except as expressly required by applicable securities law.**Oil and Gas Disclosure - COGEH / NI 51-101**This news release has been prepared in accordance with National Instrument 51-101 - Standards of Disclosure for Oil and Gas Activities ("NI 51-101") and the Canadian Oil and Gas Evaluation Handbook ("COGEH").*Prospective resources uncertainty:* There is no certainty that any portion of the prospective resources will be discovered. If discovered, there is no certainty that it will be commercially viable to produce any portion of the resources. The estimates of prospective resources involve implied risk of discovery and, even if discovered, involve further risk of commercial development. Prospective resource estimates have not been risked for the probability of discovery or commerciality except where expressly stated as after-risk figures.*Contingent resources uncertainty:* There is no certainty that it will be commercially viable to produce any portion of the contingent resources. The North Prospect Contingent Resources have been assigned a Project Maturity Sub-class of Development Unclarified, reflecting that no formal development plan has been approved and that the following conditions must be resolved before development can proceed: (i) completion of a minimum of one additional appraisal or development well (including the planned C-1 sidetrack) to confirm deliverability and commercial flow rates; (ii) completion of the Company's earn-in obligations under the Farm-In Agreement, including satisfaction of the US$9.5 million 2026 work program funding tranche and the US$5.5 million 2027 funding tranche; (iii) approval of a formal development plan and production test program by the Joint Operating Committee (Derkim Enerji as operator, Trillion 29% WI, Güney Yildizi Petrol A.S 20% WI); (iv) receipt of all required regulatory approvals from the General Directorate of Petroleum Affairs (GDPA) and other applicable Turkish governmental authorities; (v) arrangement of sufficient financing for development capital expenditures; and (vi) execution of an oil sales or offtake agreement on commercially acceptable terms. Failure to satisfy any of these conditions may prevent or indefinitely delay development of the North Prospect.*Pay definitions:* "Gross pay" refers to the total thickness of the reservoir interval above a minimum hydrocarbon saturation threshold as identified from wireline logs, without application of porosity or water saturation cut-offs. "Net pay" refers to the thickness of reservoir rock meeting minimum porosity (f ≥ 3.0%) and maximum water saturation (Sw ≤ 50%) cut-offs as described herein.*Log quality and water saturation:* Water saturation values have been derived from Archie's equation using parameters as described in this news release. All water saturation values are conservative ceiling estimates due to water-based mud filtrate invasion during drilling. True formation water saturation is estimated to be 10-15 percentage points lower in each zone. This uncertainty has not been adjusted for in the reported values; readers are cautioned that reported water saturations may overstate the true water saturation of the formation.*Well test disclaimer:* The drill stem tests and swab results reported herein were conducted under non-flowing reservoir conditions using swab techniques and are not representative of sustained production rates from properly completed wells. No sustained production test has been conducted. The acid stimulation and swab results demonstrate the presence of mobile oil and a connected fracture system but should not be used to estimate production rates from the sidetrack wells, which will be completed with electrical submersible pumps. No volumes of oil have been produced from this well to date on a commercial basis.*Analogue fields:* References to production rates and reservoir characteristics at the Sehit Aybüke Yalçin, Sehit Esma Çevik, Yagizoymak and Bulmuslar fields are based on publicly available information reported by Türkiye Petrolleri Anonim Ortakligi ("TPAO") and public media sources and the resource report prepared by Chapman. These fields are operated by TPAO and Trillion Energy has no direct knowledge of their subsurface or production data beyond public data. Production rates at these analogue fields are not necessarily indicative of resources or production rates that may be achieved at Block M47C3,C4. Risking Methodology -Contingent Resources - Chance of Development: Chapman assigned an 81% Chance of Development ("CD") to the North Prospect Contingent Resources. The CD reflects Chapman's assessment of the probability that the contingencies preventing classification as reserves will be resolved in favour of development, consistent with COGEH Section 2.1.3. Factors considered in the CD assignment include: confirmation of commercial oil flows at C-1 and C-2; proximity to the Sehit Aybüke Yalçin and analogous producing fields; preliminary economic viability at current forecast oil prices; and the status of the earn-in and joint operating arrangements. The Risked Expected Value for Contingent Resources is calculated by Chapman as the product of the unrisked 2C NPV10% and the 81% CD, in accordance with COGEH. The CD does not reflect probability of technical success (which is treated as demonstrated by the existing well results) but rather the probability that the project proceeds to development.Prospective Resources - Chance of Discovery and Chance of Commerciality: For the Central and Findik prospects, Chapman assigned a Chance of Discovery ("CoDis") and a Chance of Commerciality ("CoC") in accordance with COGEH Section 2.1.3. The CoDis reflects the probability that drilling will encounter moveable hydrocarbons, assessed by Chapman by reference to four geological risk factors: source rock (charge), geological timing and migration, reservoir quality, and trap and seal integrity. The CoC reflects the combined probability that hydrocarbons are both discovered and commercially developable, incorporating the CoDis and an additional development probability. Chapman's assigned values are: Central Prospect - CoDis 38%, CoC 31%; Findik Prospect - CoDis 45%, CoC 36%. After-risk NPV figures apply the CoC to the unrisked P50 (arithmetic average) NPV10%. These risking estimates were assigned solely by Chapman and are not independently verified by the Company.Project Basis - Contingent Resources: The development program described in this news release for the North Prospect Contingent Resources is based on a conceptual discovery and development study, as characterized by Chapman in the evaluation report. No pre-feasibility or feasibility study has been completed. The development scenario, including well count, production rates, capital costs and timing, represents Chapman's assessment of a reasonable development concept based on analogous field data and technical information available at the effective date. These parameters are subject to material change as additional technical and commercial information becomes available.Project Basis - Prospective Resources: The development programs described for the Central and Findik prospects are based on conceptual discovery and development studies, which Chapman characterizes as scoping-level analyses. The resource estimates and associated economic analyses have been conducted under a discounted cash flow methodology applied to a defined project scenario, but the program has not advanced beyond a conceptual or scoping stage. Readers are cautioned that conceptual studies carry a higher degree of uncertainty than pre-development or development studies and that actual results, if any resources are discovered and developed, may differ materially from those presented.Consistency with Evaluator Methodology: All risking probabilities and expected value calculations disclosed in this news release are taken directly from the Chapman report and reflect Chapman's own methodology and assignments. The Company has not independently re-risked or adjusted any probability estimate assigned by Chapman.Economic Assumptions -The NPV estimates disclosed in this news release are derived from the Chapman evaluation and are based on the following economic assumptions. All monetary amounts are expressed in United States dollars.Oil Price Deck: Chapman's January 1, 2026 forecast price deck (Attachment 1 to the Chapman report) was used for all NPV calculations. The evaluation applies the Brent Spot (ICE) forecast prices plus a property-specific premium of US$2.33/STB to Brent, based on revenue statements from another property the Company operates in Türkiye, yielding the following realized crude oil prices: 2026 - US$66.01/STB; 2027 - US$72.71/STB; 2028 - US$76.90/STB; 2029 - US$78.39/STB; 2030 - US$79.91/STB; 2031 - US$81.47/STB; 2032 - US$83.05/STB; 2033 - US$84.66/STB; 2034 - US$86.31/STB; 2035 - US$87.99/STB; thereafter escalating at approximately 2% per year in accordance with Chapman's forecast methodology. Royalties and Fiscal Terms: A 12.5% government royalty applies to gross production revenues from the North Prospect. No royalty deduction is applied to the Central or Findik prospects as these are prospective (pre-discovery) resources. All NPV estimates are presented on a before-income-tax basis; Turkish corporate income tax has not been deducted.Capital Costs: Capital costs have been estimated by Chapman based on historical experience and analogy, expressed in current-year dollars and escalated at 2% per year. Per-well costs to drill, complete and tie-in to a local battery are US$3.5 million per well plus US$200,000 per well for surface facilities and share of field infrastructure, applicable to all three prospects. An additional US$1.0 million per prospect has been applied for seismic in year one. The first well in each prospect is grossed up to reflect the 80%/29% earning well cost split under the farm-in agreement (i.e., Trillion bears 80% of the first well cost rather than 29%). Abandonment and restoration costs of approximately US$125,000 per well (net of salvage) are included in the terminal year cash flows. All capital costs are stated on a gross (100% working interest) basis before application of Trillion's 29% working interest, except where indicated.Operating Costs: Operating costs have been estimated at US$8.00/STB average (gross), based on discussions with the Company and historical experience. Costs are split 50/50 between variable and fixed components: a variable cost of US$4.00/STB and a fixed cost of US$7,500 per well per month (which scales with well count), plus fixed corporate and infrastructure costs that are constant throughout the project life. All operating costs are expressed in current-year dollars and escalated at 2% per year.Discount Rate: NPV estimates are discounted at 10% per year before income tax (NPV10%). NPV10% is not necessarily indicative of fair market value. Readers are cautioned that NPV10% is a technical valuation metric used in resource evaluation and does not represent the present value of future cash flows that will necessarily be realized by the Company.*Neither the Canadian Securities Exchange nor its regulation services provider accepts responsibility for the adequacy or accuracy of this news release.*To view the source version of this press release, please visit https://www.newsfilecorp.com/release/292843
Original: Trillion Energy Announces Independent Resource Evaluation