Trillion Energy Reports 12% Increase in Natural Gas Reserves for Year-End 2024

Trillion Energy International Inc. has reported a notable 12% increase in its total proved plus probable conventional natural gas reserves, reaching 62.3 billion cubic feet (Bcf) as of December 31, 2024. The company's latest reserve report reveals significant financial implications, with a net present value (NPV10%) of the total proved plus probable reserves estimated at $363.6 million, translating to $2.98 per common share.

The reserve report highlights the company's strategic assets in Türkiye, including a 49% interest in the SASB natural gas field in the Black Sea and a 19.6% interest in the Cendere oil field. Despite a 20% decrease in the NPV10% of total proved reserves to $106.8 million, the company's total proved plus probable plus possible reserves were valued at $630.1 million.

The slight growth in oil reserves at the Cendere field to 247 thousand barrels (Mbbl) suggests the company's continued focus on diversifying its energy portfolio. This development is particularly significant given the current global emphasis on energy security and the strategic importance of natural gas in European and Turkish markets.

Investors and industry analysts may view this reserve increase as a positive indicator of Trillion Energy's ongoing exploration and production strategies. The company's ability to expand its resource base demonstrates potential for future growth and value creation in the competitive energy sector.

The reserve report provides insights into the company's operational performance and its potential to contribute to regional energy needs. As Europe continues to seek diverse and reliable energy sources, Trillion Energy's assets in Türkiye position the company as a potentially important player in the regional energy landscape.