History
Park Place Energy bought its way into Turkish gas in 2017, became Trillion Energy, funded itself through repeated small raisings, and by 2026 was renegotiating a new oil farm-in.
2015-2017: Buying into Turkey
The record starts in December 2015, when Park Place Energy agreed to buy three Turkish oil and gas subsidiaries from Tiway Oil B.V., a Dutch company in bankruptcy, for $2.1 million. It was the company's entry into Turkey, which became its core asset base. Turkish regulators gave final approval in November 2016, nearly a year later. The assets were already producing about 300 barrels of oil equivalent per day, two-thirds of it gas. Meanwhile a coal-bed-methane license in Bulgaria sat stalled awaiting a court ruling, and later filings do not confirm how that ended.
The company still had to find the cash. In January 2017 it took on roughly $1.1 million of short-term loans at 10% interest, including up to $580,000 from the Parvez Tyab Family Trust, a holder of about 13.6% of its stock. With those loans and a new $1 million private placement, the purchase closed about 13 months after it was agreed.
2018-2021: Growing the stake and funding the gap
In February 2018 the company bought a further 12.25% of the South Akcakoca Sub Basin (SASB) gas field in the Black Sea, lifting its stake to 49%, and outlined plans for workovers and new drilling. Funding came mostly from small private placements and debt-for-equity settlements. Shares on issue rose from 58.2 million at the end of 2017 to 125.3 million by the end of 2019. By then the company had been renamed Trillion Energy International. In August 2019 it changed auditors from Whitley Penn, whose earlier reports had flagged substantial doubt about its ability to continue as a going concern, to Buckley Dodds.
Pricing of raisings fell to around $0.04-0.06 a unit in 2020, then recovered. In August 2021 warrant holders exercised about CAD$2.4 million of warrants at $0.12, including about CAD$343,000 from two company officers. Shares reached 185.2 million by the end of 2021.
2022-2026: Water loading and a new bet
The record for 2022 and 2023 is thin. Year-end share counts moved sharply, but the beats do not explain those changes. In January 2024 Trillion held its SASB guidance at 7,547 mcf/d net but pushed its six-well programme back three months. It was waiting on pumps and remanufactured wellheads to deal with water loading in the wells, which a December engineering study had identified.
In January 2026 the company signed a farm-in, a deal to earn a share of a project by paying costs, to earn 29% of the M47 oil block in south-eastern Türkiye. In July 2026 it restructured the payment schedule after advancing US$300,000, spreading its earn-in commitments into 2027. That is where the record stood at its latest entry.
Written from the 9 story beats below (2015 to 15 July 2026), which come from the company's own announcements and filings.