Trillion Energy International Inc. has announced a significant increase in its natural gas reserves, with total proved plus probable conventional reserves rising 12% to 62.3 billion cubic feet (Bcf) as of December 31, 2024.
The company's reserves report reveals a net present value (NPV10%) of $363.6 million for total proved plus probable reserves, translating to $2.98 per common share. Despite this growth, the NPV10% of total proved reserves decreased by 20% to $106.8 million.
The reserve report also highlighted the company's broader portfolio, with total proved plus probable plus possible reserves valued at $630.1 million. Additionally, oil reserves at the Cendere field saw a slight increase to 247 thousand barrels.
This reserve growth is significant for Trillion Energy, which focuses on oil and natural gas production in Europe and Türkiye. The company holds a 49% interest in the SASB natural gas field in the Black Sea and a 19.6% interest in the Cendere oil field, positioning it strategically in an important energy region.
The reserve increase could indicate potential expansion of the company's energy assets and improved long-term production capabilities. For investors and industry observers, this represents a positive signal of Trillion Energy's ongoing exploration and development strategies in the regional energy market.
