Trillion Energy International forecasting recovery of nearly 5.8 billion cubic feet of gas from SASB operation in Turkey

Trillion Energy International Inc (CSE:TCF) (OTCMKTS:TCFF) told shareholders Thursday that it is forecasting total economic recovery of nearly 5.8 billion cubic feet of gas from its SASB operation in Turkey. The Vancouver-based company said it had recently completed a forecast for total economic recovery for each of the 10 production wells drilled during Phase I and II development. Trillion recently made moves to extend the life of the wells and boosted production by 50% to 1,517 million cubic feet per day by lowering producing pressure to increase gas production. READ: Trillion Energy International says its Cendere oil field regains profitability as oil prices recover SASB is one of the Black Sea region’s largest undeveloped natural gas projects with 23 shallow water wells and four offshore platforms, as well as pipeline infrastructure and a gas processing plant. The gas field produced around 42 billion cubic feet of gas between 2007 and 2011. Trillion has a 49% interest in the project. Production from Phase I and II peaked in 2011 at approximately 6.5 billion cubic feet per year and now currently produces approximately 40 million cubic feet annually, according to Trillion. “We look forward to bringing SASB gas production to new highs as redevelopment occurs after we complete our development plan,” Trillion CEO Arthur Halleran said in a statement. “Natural gas sales in Turkey have maintained consistent strength of between US$6 and US$7.60 per million cubic feet, a substantial premium to North American markets.” Trillion is currently in the process of coming up with a comprehensive redevelopment plan for SASB that could see a market increase in production levels by accessing additional gas reserves. The company owns a number of strategic oil and gas assets in Turkey and Bulgaria. Contact Angela at angela@proactiveinvestors.com Follow her on Twitter @AHarmantas