Trillion Energy International has made a second US$250,000 cash payment toward its earn-in obligations on the M47c,d onshore oil block in southeastern Türkiye, bringing cumulative payments to US$500,000. The funds count against the company’s US$9.5 million first-tranche work program commitment under its Earn-in Agreement on the M47c,d Concession in the Cudi-Gabar petroleum province. With that milestone reached, Trillion and its partners are now moving toward a new seismic survey on the block.
Second payment advances earn-in toward 29% working interest
The latest US$250,000 payment follows an identical installment that Trillion announced on May 4, 2026. Both are applied against the Earn-in Agreement on the M47 Concession and count toward the US$9.5 million first-tranche work program commitment for 2026–2027.
Reaching US$500,000 in cumulative payments is a measurable step, though the full earn-in obligation is considerably larger. Trillion must fund a total of US$15 million across two work program tranches to secure a 29% participating interest in the M47c,d block. The first tranche alone stands at US$9.5 million — meaning the company has covered roughly 5% of that commitment so far.
The agreement places the financial burden squarely on Trillion in exchange for a meaningful equity stake in an active exploration region. Each payment moves the company closer to the working interest it is targeting.
Seismic program planned to expand exploration coverage on M47
One of the clearest motivations behind the ongoing investment is how little of the M47c,d block has actually been studied. Only approximately 25% of the 450 km² concession area is covered by existing seismic data, leaving a large portion essentially uncharacterized.
Trillion and its partners are now preparing a new seismic campaign to address that gap, with particular attention to the eastern block line, where data coverage is currently limited. The expected outcome is significant: the new work is anticipated to generate four to six additional drillable exploration locations — prospects not included in the company’s current resource assessment. That would meaningfully expand the inventory of targets available for future drilling.
Existing resource estimates and prior drilling results underpin program
A technical foundation is already in place. An independent NI 51-101 resource evaluation conducted by Chapman, effective December 31, 2025, identified 27.6 MMbbl of 2C contingent resources on the North Prospect alone, with an unrisked NPV-10 of US$733.5 million and a risk-adjusted value of US$594.2 million.
Two other prospects add further upside. The Central and Findik South prospects carry a combined after-risk NPV-10 of US$215.7 million, according to the same Chapman assessment, while the North Prospect’s 3C estimate carries an unrisked NPV-10 of US$1.18 billion.
Drilling results from 2025 also support the program. The Çetinkaya-1 well confirmed 38 metres of net oil pay at 32.4° API light oil at a depth of 2,455 metres — and 160 metres of reservoir were left undrilled at the time, suggesting additional potential that has not yet been fully evaluated.
Regional production context and infrastructure access for M47
The broader Gabar region currently produces approximately 80,000 barrels of oil per day, representing around 8% of Türkiye’s total demand. Authorities have set a stated target of 100,000 bbl/d, signaling continued development activity in the region.
Activity immediately surrounding M47c,d reinforces the block’s potential. Approximately 40 rigs are working on a 140-well location inventory just beyond the block’s perimeter in 2026, and five new producing oil fields have been established in roughly five years in that same area. M47c,d, by comparison, remains significantly underexplored. The block also sits approximately 11 km southeast of the Sehit Aybüke Yalçin field — Türkiye’s largest onshore light oil discovery — and targets the same Beloka and Mardin Group carbonate reservoirs.
Two infrastructure routes to first cash flow are available when production begins. A recently completed regional pipeline network with over 150,000 boe/d capacity provides one option; truck haul to the Tüpras Batman refinery, approximately 130 km away, provides the other.
Key takeaways
Trillion Energy has now advanced US$500,000 of its US$9.5 million first-tranche earn-in commitment on the M47c,d block, against a total obligation of US$15 million to secure a 29% working interest. A new seismic survey is being prepared to cover portions of the 450 km² block that lack existing data, with the potential to add four to six new drillable locations. Independent resource estimates place meaningful contingent and prospective value on the block, and surrounding infrastructure supports a clear path to eventual production.
