Trillion Energy International Inc., Vancouver, signed a farm-in agreement with Derkim Poliüretan Sanayi ve Ticaret AS to earn a 50% working and revenue interest in three oil exploration blocks comprised of 374,325 acres within the newly defined Cudi-Gabar petroleum province, Southeastern Turkiye.
To earn the interest, Trillion must acquire 351 km of 2D seismic in 2023 and drill four wells in 2024.
The Cudi-Gabar province is central to an active petroleum system extending up from Iraq and Syria, where Turkiye’s portion contains oil fields including Sehit Esma Cevik, discovered in 2022, and Sehit Aybuke Yalcin, discovered in 2023.
The Eastern block (BlockM47C3, C4) is about 15 km by 30 km and lies about 12 km from the newly discovered Sehit Aybuke Yalcin oil field at Mount Gabar.The discovery well encountered a 162-m thick reservoir with 41 API gravity oil. The field currently produces 10,000 b/d of oil. The Eastern Block is also 11 km from Sehit Esma Cevik oil field. In May 2023 the field was noted to be producing about 10,000 b/d of oil.
The Western blocks (M46C,D) farm-in are a combined area of about 30 km by 60 km and lie about 30 km west of the Eastern block. The northern boundary is about 5 km from Raman oil field.
No economic discoveries have yet been made on the blocks pursuant to the farm-in.
Trillion will be operator of the sole exploration phase with 100% of the expected $16-million cost (351 km of 2D seismic followed by drilling four oil exploration wells). A joint exploration phase will have six additional exploration wells drilled, but Trillion only pays 50%.
Trillion chief executive officer Arthur Halleran said the oil field trend is expected to run through the northeast half of the Eastern Block which has yet to be explored. “Wells drilled to date in the southwest of our targeted area have good to very good oil staining and asphalt in the rocks. This indicates a working petroleum system on the Eastern Block where oil has been generated and migrated within the system. There are 5 different Mesozoic reservoirs and 2 different Paleozoic reservoirs that have over 15 oil fields of note in surrounding blocks.”
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