Segmented Information

6 Months Ended

Jun. 30, 2023

Segmented Information

19. Segmented Information

During the six months ended June 30, 2023 and the year ended December 31, 2022, the Company’s operations were in the resource industry in Turkey with head offices in the United States and a satellite office in Sofia, Bulgaria.

	Canada			Turkey		Bulgaria			Total
Six months ended June 30, 2023
Revenue	$	-		$	11,962,601	$	-		$	11,962,601
Finance cost		790,171			-		-			790,171
Depletion		-			2,938,921		-			2,938,921
Depreciation		4,203			122,044		-			126,247
Accretion of asset retirement obligation		-			108,447		-			108,447
Stock-based compensation		1,150,833			-		-			1,150,833
Loss on debt extinguishment		1,417			-		-			1,417
Gain on net monetary position		-			6,188,247		-			6,188,247
Net income (loss)		(3,903,772	)		3,952,858		(1,932	)		47,154
As at June 30, 2023
Non-current assets	$	39,381		$	37,126,805	$	-		$	37,166,186

	Canada			Turkey		Bulgaria			Total
Six months ended June 30, 2022
Revenue	$	-		$	2,511,598	$	-		$	2,511,598
Financing cost		29,448			-		-			29,448
Depletion		-			148,873		-			148,873
Depreciation		895			43,081		-			43,976
Accretion of asset retirement obligation		-			82,905		-			82,905
Stock-based compensation		84,721			-		-			84,721
Gain on debt settlement		(11,984	)		-		-			(11,984	)
Net income (loss)		(2,351,005	)		467,118		(1,042	)		(1,884,929	)
As at December 31, 2022
Non-current assets	$	42,762		$	30,748,759	$	-		$	30,791,521

TRILLION ENERGY INTERNATIONAL INC.

Notes to the Condensed Consolidated Interim Financial Statements

For the six months ended June 30, 2023 and 2022

(Expressed in U.S. dollars)

(Unaudited)

19. Segmented Information continued)

The Company’s breakdown of net revenue by product segment is as follows:

	For the six months ended
	June 30, 2023		June 30, 2022
Oil	$	1,367,884	$	2,106,871
Gas		10,594,717		404,727
	$	11,962,601	$	2,511,598

The Company incurs royalties of 12.5%. During the six months ended June 30, 2023, the Company paid royalties totaling $1,299,698 (2022 - $291,526).