Segmented Information

12 Months Ended

Dec. 31, 2023

Notes and other explanatory information [abstract]

Segmented Information

21. Segmented Information

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

	Canada			Turkey			Bulgaria			Total
Year ended December 31, 2023
Revenue	$	-		$	16,797,366		$	-		$	16,797,366
Finance cost		2,202,324			46,731			-			2,249,055
Depletion		-			5,119,174			-			5,119,174
Depreciation		8,497			167,267			-			175,764
Accretion of asset retirement obligation		-			219,536			-			219,536
Stock-based compensation		2,397,261			-			-			2,397,261
Loss on debt extinguishment		8,500			-			-			8,500
Loss on impairment of assets held for sale		-			1,556,787			-			1,556,787
Gain on net monetary position		-			(18,984,099	)		-			(18,984,099	)
Net income (loss)		(8,958,570	)		7,861,094			(4,718	)		(1,102,194	)
As at December 31, 2023
Non-current assets	$	35,021		$	53,710,753		$	-		$	53,745,774

	Canada			Turkey		Bulgaria			Total
Year ended December 31, 2022
Revenue	$	-		$	9,375,029	$	-		$	9,375,029
Finance cost		79,693			-		-			79,693
Depletion		-			1,451,032		-			1,451,032
Depreciation		4,826			140,209		-			145,035
Accretion of asset retirement obligation		-			264,075		-			264,075
Stock-based compensation		2,118,917			-		-			2,118,917
Loss on impairment of exploration and evaluation assets		-			-		3,101,343			3,101,343
Gain on debt extinguishment		97,051			-		-			97,051
Gain on net monetary position		-			1,826,495		-			1,826,495
Net income (loss)		(6,684,988	)		3,577,954		(3,014,720	)		(6,121,754	)
As at December 31, 2022
Non-current assets	$	42,781		$	30,748,740	$	-		$	30,791,521

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

	For the year ended
	December 31, 2023		December 31, 2022
Oil	$	3,055,800	$	4,087,664
Gas		13,741,566		5,287,365
	$	16,797,366	$	9,375,029

The Company incurs royalties of 12.5%. During the year ended December 31, 2023, the Company paid royalties totaling $2,242,613 (2022 - $1,163,498).

TRILLION ENERGY INTERNATIONAL INC.

Notes to the Consolidated Financial Statements

For the years ended December 31, 2023 and 2022

(Expressed in U.S. dollars)