Trillion Energy International (TRLEF) 20-F 6 May 24 2023 FY Annual report (foreign) Financial data

Cover

Cover	12 Months Ended
	Dec. 31, 2023 shares
Entity Addresses [Line Items]
Document Type	20-F
Amendment Flag	false
Document Registration Statement	false
Document Annual Report	true
Document Transition Report	false
Document Shell Company Report	false
Document Period End Date	Dec. 31, 2023
Document Fiscal Period Focus	FY
Document Fiscal Year Focus	2023
Current Fiscal Year End Date	--12-31
Entity File Number	000-55539
Entity Registrant Name	TRILLION ENERGY INTERNATIONAL INC.
Entity Central Index Key	0001648636
Entity Incorporation, State or Country Code	A1
Entity Address, Address Line One	Suite 700
Entity Address, Address Line Two	838 W. Hastings Street
Entity Address, City or Town	Vancouver
Entity Address, State or Province	BC
Entity Address, Postal Zip Code	V6C 0A6
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	No
Entity Filer Category	Non-accelerated Filer
Entity Emerging Growth Company	false
Document Accounting Standard	International Financial Reporting Standards
Entity Shell Company	false
Entity Common Stock, Shares Outstanding	115,250,810
Document Financial Statement Error Correction [Flag]	false
Auditor Name	MNP LLP
Auditor Location	Calgary, Canada
Auditor Firm ID	1930
Business Contact [Member]
Entity Addresses [Line Items]
Entity Address, Address Line One	Suite 700
Entity Address, Address Line Two	838 W. Hastings Street
Entity Address, City or Town	Vancouver
Entity Address, State or Province	BC
Entity Address, Postal Zip Code	V6C 0A6
City Area Code	250
Local Phone Number	996-4211
Contact Personnel Name	Mr. Arthur Halleran
Contact Personnel Email Address	arth@trillionenergy.com

Consolidated Statements of Fina

Consolidated Statements of Financial Position - USD ($)	Dec. 31, 2023	Dec. 31, 2022
Current assets:
Cash and cash equivalents	$ 1,188,445	$ 926,061
Amounts receivable	1,593,345	4,337,825
Prepaid expenses and deposits	603,435	962,812
Assets held for sale	1,479,429
Total current assets	4,864,654	6,226,698
Oil and gas properties, net	52,654,100	30,049,794
Property and equipment, net	720,550	741,727
Long-term deposits	371,124
Total assets	58,610,428	37,018,219
Current liabilities:
Accounts payable and accrued liabilities	14,065,019	10,600,080
RSU obligation	18,398	295,747
Loans payable	3,464,450	145,866
Convertible debt – accrued interest	227,092
Lease liability	19,637	4,057
Total current liabilities	17,794,596	11,045,750
Asset retirement obligation	6,247,027	5,316,470
Loans payable		20,689
Convertible debt	10,102,627
Lease liabilities	122,058	4,552
Derivative liability		4,827
Deferred tax liability	2,131,548
Total liabilities	36,397,856	16,392,288
Stockholders’ equity:
Share capital	74,586,724	64,750,270
Notes and amounts receivable for equity issued	(113,309)	(1,062,062)
Warrant and option reserve	6,239,370	5,682,869
Shares to be cancelled	7,645	7,645
Obligation to issue shares	396,177	94,210
Accumulated other comprehensive loss	(12,964,837)	(4,009,997)
Accumulated deficit	(45,939,198)	(44,837,004)
Total stockholders’ equity	22,212,572	20,625,931
Total liabilities and stockholders’ equity	$ 58,610,428	$ 37,018,219

Consolidated Statements of Inco

Consolidated Statements of Income (Loss) and Comprehensive Income (Loss) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Revenue
Oil and gas revenue, net	$ 16,797,366	$ 9,375,029	$ 3,700,727
Cost and expenses
Production	4,365,710	3,567,875	2,617,118
Depletion	5,119,174	1,451,032	415,686
Depreciation	175,764	145,035	31,768
Accretion of asset retirement obligation	219,536	264,075	91,983
Stock-based compensation	2,397,261	2,118,917	336,366
General and administrative	7,294,972	6,397,500	3,162,934
Geological and geophysical expenses	706,410	636,248
Impairment of exploration and evaluation assets		3,101,343
Total expenses	20,278,827	17,682,025	6,655,855
Loss before other income (expenses)	(3,481,461)	(8,306,996)	(2,955,128)
Other income (expense)
Interest income	19,179	86,739	46,217
Finance cost	(2,249,055)	(79,693)	(302,413)
Foreign exchange gain (loss)	(10,990,604)	1,272,450	25,669
Gain (loss) on extinguishment accounts payable	(8,500)	97,051	(159,383)
Change in fair value of derivative liability	4,827	(686,504)	(1,590,762)
Loss on settlement agreement		(285,120)
Loss on write-off of notes and other receivables		(46,176)
Loss on impairment of assets held for sale	(1,556,787)
Loss on issuance of shares	(17,342)
Gain on net monetary position	18,984,099	1,826,495
Gain on sale of equipment	19,535		40,074
Gain on termination of lease	31,864
Other income	2,377		2,600
Total other income (expense)	4,239,593	2,185,242	(1,937,998)
Net income (loss) before taxes	758,132	(6,121,754)	(4,893,126)
Deferred tax expense	(1,860,326)
Net loss	(1,102,194)	(6,121,754)	(4,893,126)
Other comprehensive loss
Foreign currency translation	(8,954,840)	(3,636,492)	(357,240)
Comprehensive loss	$ (10,057,034)	$ (9,758,246)	$ (5,250,366)
Loss per share - basic	$ (0.01)	$ (0.10)	$ (0.15)
Loss per share - diluted	$ (0.01)	$ (0.10)	$ (0.15)
Weighted average shares outstanding - basic	81,084,843	62,491,482	31,633,222
Weighted average shares outstanding - diluted	81,084,843	62,491,482	31,633,222

Consolidated Statements of Stoc

Consolidated Statements of Stockholders' Equity - USD ($)	Ordinary shares [member]	Warrant and option reserve [member]	Receivables for equity issued [Member]	Obligation to issue shares [member]	Shares to be cancelled [member]	Accumulated other comprehensive income [member]	Retained earnings [member]	Total
Beginning balance value at Dec. 31, 2020	$ 26,332,622	$ 1,177,099		$ 15,342		$ (490,172)	$ (33,822,124)	$ (6,787,233)
Balance, shares at Dec. 31, 2020	25,067,831
Issuance of common stock	$ 268,545			(15,342)				253,203
Issuance of common stock, shares	2,566,398
Stock issued for debt settlement	$ 157,178							157,178
Stock issued for debt settlement, shares	1,050,548
Warrants exercised to settle debt	$ 194,359							194,359
Warrants exercised to settle debt, shares	280,000
Stock issued for services	$ 765,576							765,576
Stock issued for services, shares	626,118
RSU grants and vesting	$ 204,525			7,450				211,975
RSU grants and vesting, shares	255,000
Warrants exercised	$ 5,928,944				5,323			5,934,267
Warrants exercised shares	5,974,024
Options exercised	$ 590,111	(136,320)	(1,193,641)					(739,850)
Options exercised, shares	782,000
Conversion of debentures	$ 522,519							522,519
Conversion of debentures, shares	432,000
Warrants issued for loan	$ 152,751							152,751
Warrants issued for loan, shares
Options issued		108,775						108,775
Options issued, shares
Warrants issued		15,616						15,616
Warrants issued shares
Net loss and comprehensive loss						(357,240)	(4,893,126)	(5,250,366)
Ending balance, value at Dec. 31, 2021	$ 35,117,130	1,165,170	(1,193,641)	7,450	5,323	(847,412)	(38,715,250)	(4,461,230)
Balance, shares at Dec. 31, 2021	37,033,919
Issuance of common stock	$ 29,097,587	2,253,535						31,351,122
Issuance of common stock, shares	35,838,968
Stock issued for debt settlement	$ 391,021							391,021
Stock issued for debt settlement, shares	600,000
Stock issued for services								169,396
Warrants exercised	$ 3,144,128	(935,888)	(10,310)					2,197,930
Warrants exercised shares	2,185,366
Options exercised	$ 1,152,269	(474,906)	(41,349)		2,322			638,336
Options exercised, shares	675,000
Options issued		1,421,267						1,421,267
Net loss and comprehensive loss						(3,636,492)	(6,121,754)	(9,758,246)
Impact of change in functional currency		309,737						309,737
Stock issuance costs	(2,649,823)							(2,649,823)
Stock issued for prepaid services	$ 169,396							169,396
Stock issued for prepaid services, shares	221,818
Stock issued for RSUs	$ 111,122			(7,540)				103,582
Shares issued for RSUs, shares	220,000
Finder’s warrants issued	$ (1,782,560)	1,782,560
Repayment or write-offs of notes receivables			183,238					183,238
Equity to be issued for settlement agreement				94,300				94,300
RSUs to be issued		298,322						298,322
RSU’s repurchased		(136,928)						(136,928)
Impact of hyperinflation						473,907		473,907
Ending balance, value at Dec. 31, 2022	$ 64,750,270	5,682,869	(1,062,062)	94,210	7,645	(4,009,997)	(44,837,004)	20,625,931
Balance, shares at Dec. 31, 2022	76,775,071
Issuance of common stock	$ 2,215							2,215
Issuance of common stock, shares	5,000
Stock issued for debt settlement	$ 212,402							212,402
Stock issued for debt settlement, shares	150,000
Stock issued for services								89,711
Stock issued for services, shares	60,000
Options exercised	$ 972,085	(429,221)						542,864
Options exercised, shares	440,000
Net loss and comprehensive loss						(8,954,840)	(1,102,194)	(10,057,034)
Stock issuance costs	(803,012)	259,955						(543,057)
Stock issued for RSUs	$ 1,462,778	(1,146,982)						315,796
Shares issued for RSUs, shares	1,762,805
RSU’s repurchased		(919,790)	604,537					(315,253)
Stock issued in market offering	$ 7,960,687							7,960,687
Stock issued in market offering, shares	36,057,934
Stock issued for services	$ 29,299	58,881		18,873				107,053
Stock-based compensation – options		118,202						118,202
Stock-based compensation – RSU’s		1,879,832						1,879,832
Convertible debt – Equity component		1,004,524						1,004,524
Deferred tax on equity component of convertible debt		(271,222)						(271,222)
Reduction of notes receivables			344,216					344,216
RSU grant accrual		2,322		283,094				285,416
Ending balance, value at Dec. 31, 2023	$ 74,586,724	$ 6,239,370	$ (113,309)	$ 396,177	$ 7,645	$ (12,964,837)	$ (45,939,198)	$ 22,212,572
Balance, shares at Dec. 31, 2023	115,250,810

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Operating activities:
Net loss for the year	$ (1,102,194)	$ (6,121,754)	$ (4,893,126)
Changes in non-cash working capital items:
Stock-based compensation	2,397,261	2,118,917	336,366
Stock issued for services	89,711	169,396	765,576
Depletion	5,119,174	1,451,032	415,686
Depreciation	175,764	145,035	31,768
Accretion of asset retirement obligation	219,536	264,075	91,983
Accretion and accrued interest expense	1,393,604	26,365	192,258
Interest income	(19,179)	(54,623)	(17,733)
Change in fair value of derivative liability	(4,827)	686,504	1,590,762
Unrealized foreign exchange (gain) loss	5,371,835	(32,899)	50,916
Provision for settlement		285,120
(Gain) loss on debt settlement	8,500	(97,051)	159,383
Loss on issuance of shares	17,342
Loss on impairment of assets held for sale	1,556,787
Loss on impairment of exploration and evaluation assets		3,101,343
Loss on write-off of notes and other receivables		46,176
Gain on net monetary position	(18,984,099)	(1,826,495)
Gain on disposal of equipment	(19,535)		(40,074)
Gain on termination of lease	(31,864)
Deferred tax expense	1,860,326
Restricted cash		5,438	6,325
Amounts receivable	1,448,844	(3,959,821)	(469,752)
Prepaid expenses and deposits	(677,165)	(883,254)	(71,201)
Accounts payable and accrued liabilities	(346,398)	11,708,461	(18,680)
Net cash (used in) provided by operating activities	(1,526,577)	7,031,965	(1,869,543)
Investing activities:
Property and equipment expenditures	(60,176)	(696,929)	(180,739)
Oil and gas properties expenditures	(56,381,768)	(44,369,191)	(66,122)
Disposal of equipment		64,588	65,016
Advances from JV Partners	29,623,835	6,656,785
Prepaid expenses and deposits	178,536
Accounts payable and accrued liabilities	7,856,541	917,064
Net cash used in investing activities	(18,783,032)	(37,427,683)	(181,845)
Financing activities:
Proceeds from stock subscriptions received, net	7,417,630	28,701,299	544,880
Proceeds from exercise of options	542,864	571,066	191,032
Proceeds from exercise of warrants	2,215	1,208,249	1,772,884
Proceeds from loans payable	4,988,296	199,007	525,642
Repayments of loans payable	(2,719,721)	(696,853)	(394,883)
Repayment of notes receivable	80,991	136,611	23,745
Proceeds from convertible debt	10,359,398
Lease payments	(85,271)	(4,121)	(7,634)
Net cash provided by financing activities	20,586,402	30,115,258	2,655,666
Effect of exchange rate changes on cash and cash equivalents	(14,409)	179,531	220,000
Net increase (decrease) in cash and cash equivalents	262,384	(100,929)	824,278
Cash and cash equivalents, beginning of year	926,061	1,026,990	202,712
Cash and cash equivalents, end of year	1,188,445	926,061	1,026,990
Supplemental information:
Interest paid on credit facilities	795,451	105,805	29,980
Non-cash investing and financing activities:
Stock issued for debt settlement	212,402	391,021	351,537
Stock issued for prepaid expenses		158,698
Stock issued for services	89,711	169,396	765,576
Stock issued for debt conversion			522,519
Right-of-use asset additions	$ 236,201

Organization

Organization	12 Months Ended
	Dec. 31, 2023
Organization
Organization	1. Organization Trillion Energy International Inc. and its consolidated subsidiaries, (collectively referred to as the “Company”) is a Canadian based oil and gas exploration and production company. Effective January 2022, the corporate headquarters moved to Suite 700, 838 West Hastings Street, Vancouver, B.C., Canada from Turan Gunes Bulvari, Park Oran Ofis Plaza, 180-y, Daire:54, Kat:14, 06450, Oran, Cankaya, Anakara, Turkey. The Company also has a registered office in Canada and Bulgaria. The Company was incorporated in Delaware in 2015. The Company’s shares trade on the OTCQB under the symbol “TRLEF” and trade on the Canadian Securities Exchange (the “Exchange”) under the symbol “TCF”. On January 21, 2022, the Company redomiciled from Delaware to a British Columbia corporation by way of an amalgamation transaction with the Company’s British Columbian subsidiary, Trillion Energy Inc. (the “Repatriation Transaction”). Pursuant to the Repatriation Transaction, for every one common stock of Trillion Energy International Inc., the shareholders will receive one common stock of Trillion Energy Inc. The Company will continue to operate and report under the name of Trillion Energy International Inc. As a result of the Repatriation Transaction, the Company meets the definition of a foreign private issuer, as defined under Rule 3b-4 of the Securities Exchange Act of 1934, as amended. On September 18, 2023, the Company consolidated its issued share capital on a ratio of five old common shares for every one new post-consolidated common share. All current and comparative references to the number of common shares, weighted average number of common shares, loss per share, stock options and warrants have been restated to give effect to this share consolidation (the “Share Consolidation”). These consolidated financial statements have been prepared on the assumption that the Company will continue as a going concern, meaning it will continue in operation for the foreseeable future and will be able to realize assets and discharge liabilities in the ordinary course of operations. At December 31, 2023, the Company’s current liabilities exceeded its current assets by $ 12,929,942 4,819,052 45,939,198 44,837,004 1,526,577 7,031,965

Material Accounting Policies

Material Accounting Policies	12 Months Ended
	Dec. 31, 2023
Notes and other explanatory information [abstract]
Material Accounting Policies	2. Material Accounting Policies (a) Basis of Presentation The audited consolidated financial statements of the Company have been prepared in accordance with International Financial Reporting Standards (“IFRS”) issued by the International Accounting Standards Board (“IASB”) and Interpretations of the International Financial Reporting Interpretations Committee (“IFRIC”), effective as at January 1, 2023. The consolidated financial statements are expressed in U.S. dollars. These consolidated financial statements include the accounts of the Company and its wholly owned subsidiaries Park Place Energy Corp. (“PPE Corp.”), Park Place Energy Bermuda (“PPE Bermuda”), BG Exploration EOOD (“BG Exploration”), and Park Place Energy Turkey (“PPE Turkey”). The Company’s oil and gas operations are conducted jointly with its joint venture partner (Note 6). The joint arrangement meets the definition of a joint operation under IFRS 11, “Joint Arrangements” (“IFRS 11”); therefore, the Company’s share of the assets, liabilities, revenues and expenses are recorded in the consolidated financial statements. All intercompany balances and transactions are eliminated on consolidation. TRILLION ENERGY INTERNATIONAL INC. Notes to the Consolidated Financial Statements For the years ended December 31, 2023 and 2022 (Expressed in U.S. dollars) 2. Material Accounting Policies (continued) The functional currency of BG Exploration is the Bulgarian Lev. The functional currency of the Company’s Turkish operations is the Turkish Lira (“₺”). The functional currency of the Company’s Bermuda subsidiary is the United States dollar (“USD”), and the function currency of PPE Corp is the USD. Prior to January 1, 2022, the functional currency of Trillion Energy International Inc. was USD. The Company redomiciled from United States to Canada and became a Canadian Company in January 2022, resulting in the parent’s expenditures being denominated primarily in Canadian dollar (“CAD”) and the Company being funded primarily from issuance of equity instruments which proceeds are in CAD. As a result, the Company determined that the functional currency of the parent was changed to CAD effective January 1, 2022. The Company has accounted for the change in functional currency prospectively with no impact of this change on prior period comparative information. The Company has made an accounting policy choice to reassess the classification of financial instruments as liabilities or equity or vice versa as applicable when the functional currency of the Company or its subsidiaries changes. The policy will be applied consistently in the future. As a result, certain of the Company’s CAD denominated warrants with a carrying value of $ 472,899 163,162 A portion of the Company’s exploration and development activities are conducted jointly with others. The joint interests are accounted for on a proportionate consolidation basis and as a result the financial statements reflect only the Company’s proportionate share of the assets, liabilities, revenues, expenses and cash flows from these activities. Schedule of Exploration and Development activities Name of the joint arrangement Nature of the relationship with the joint arrangement Principal place of operation of joint arrangement Proportion of participating share South Akcakoca Sub-Basin (“SASB”) Operator Turkey 49 Cendere Participant Turkey 19.6 These consolidated financial statements were approved and authorized for issuance by the Board of Directors on April 29, 2024. Basis of Measurement These consolidated financial statements have been prepared on a historical cost basis except for certain derivative liabilities, which are measured at fair value. Hyperinflation Due to various qualitative factors and developments with respect to the economic environment in Turkey, including but not limited to, the acceleration of multiple local inflation indices, the three-year cumulative inflation rate of the local Turkish wholesale price index exceeding 100% at the end of February 2022 and the significant devaluation of the Turkish Lira, Turkey has been designated a hyper-inflationary economy as of April 1, 2022 for accounting purposes. Accordingly, IAS 29, Financial Reporting in Hyper-Inflationary Economies was adopted by the Company in its consolidated financial statements and applied to these consolidated financial statements in relation to PPE Turkey. The consolidated financial statements are based on the historical cost approach in IAS 29. TRILLION ENERGY INTERNATIONAL INC. Notes to the Consolidated Financial Statements For the years ended December 31, 2023 and 2022 (Expressed in U.S. dollars) 2. Material Accounting Policies (continued) The application of hyperinflation accounting requires restatement of PPE Turkey’s non-monetary assets and liabilities, equity and comprehensive income (loss) items from the original transaction date when they were first recognized into the current purchasing power which reflects a general price index current at the end of the reporting period. To measure the impact of inflation on its financial statements and results, the Company has elected to use the consumer price index (“CPI”) as published by the Turkish Statistical Institute “TURKSTAT”. IAS 29 also requires the restatement of comparative periods for the effects of hyperinflation unless the comparatives were previously presented in a different presentation currency of a non-hyperinflationary economy. The consolidated financial statements of the Company are presented in US dollars, a stable currency, and as a result the comparative amounts do not require restatement. On April 1, 2022, the Company recognized an adjustment of $ 473,907 The value of the CPI at December 31, 2023, was 1,859 1,128 731 442 65 64 18,984,099 1,826,495 (b) Use of Estimates and Judgments In the process of applying the Company’s accounting policies, management has made the following judgments, which have the most significant effect on the amounts recognized in the consolidated financial statements: Functional Currency The functional currency for the Company and each of its subsidiaries is the currency of the primary economic environment in which the entity operates. Determination of the functional currency involves certain judgments to determine the primary economic environment and the Company reconsiders the functional currency of its entities if there is a change in events and conditions which determined the primary economic environment. Determination of Cash Generating Units (“CGUs”) A CGU is the lowest grouping of integrated assets that generate identifiable cash inflows that are largely independent of the cash inflows of other assets or groups of assets. The allocation of assets into CGUs requires significant judgment and interpretations with respect to the integration between assets, the existence of active markets, similar exposure to market risks, shared infrastructure, and the way in which management monitors the operations. Going concern The assessment of the Company’s ability to continue as a going concern and to raise sufficient funds to pay its ongoing operating expenditures and to meet its liabilities for the ensuing year, involves significant judgment based on historical experience and other factors, including expectation of future events that are believed to be reasonable under the circumstances. TRILLION ENERGY INTERNATIONAL INC. Notes to the Consolidated Financial Statements For the years ended December 31, 2023 and 2022 (Expressed in U.S. dollars) 2. Material Accounting Policies (continued) Asset Retirement Obligation The Company recognizes obligation for the future decommissioning and restoration of the Company’s exploration and evaluation assets and oil and gas properties based on estimated future decommissioning and restoration costs. Management applies judgment in assessing the existence and extent as well as the expected method of reclamation of the Company’s decommissioning and restoration obligations at the end of each reporting period. Management also uses judgment to determine whether the nature of the activities performed is related to decommissioning and restoration activities or normal operating activities. In the process of applying the Company’s accounting policies, management has made the following estimates, which have the most significant effect on the amounts recognized in the consolidated financial statements: Convertible debt During the year ended December 31, 2023, the Company completed a convertible debenture financing. The convertible debentures include certain conversion features and associated warrants which were valued using the option pricing model and required significant assumptions to be made by management to value. Oil and Gas Reserves The Company’s estimate of oil and gas reserves is considered in the measurement of depletion, depreciation, impairment, and decommissioning and restoration obligations. The estimation of reserves is an inherently complex process and involves the exercise of professional judgment. All reserves are evaluated annually by independent qualified reserves evaluators. Oil and gas reserves estimates are based on a range of geological, technical and economic factors, including projected future rates of production, projected future commodity prices, engineering data, and the timing and amount of future expenditures, all of which are subject to uncertainty. Estimates reflect market and regulatory conditions existing at the evaluation date, which could differ significantly from other points in time throughout the period, or future periods. Changes in market and regulatory conditions and assumptions, as well as climate change, and the evolving worldwide demand for energy and global advancement of alternative sources of energy that are not sourced from fossil fuels can materially impact the estimation of net reserves. Allowance for doubtful accounts Estimates are inherent in the on-going assessment of the recoverability of amounts receivable. The Company maintains an allowance for doubtful accounts to reflect the expected credit losses. Uncertainty relates to the actual collectability of customer balances that can vary from the Company’s estimation. Asset Retirement Obligation The Company recognizes obligation for the future decommissioning and restoration of the Company’s exploration and evaluation assets and oil and gas properties based on estimated future decommissioning and restoration costs. Actual costs are uncertain, and estimates may vary as a result of changes to relevant laws and regulations related to the use of certain technologies, the emergence of new technology, operating experience, prices and closure plans. The estimated timing of future decommissioning and restoration may change due to certain factors, including reserves life. Changes to estimates related to future expected costs, discount rates, inflation assumptions, and timing may have a material impact on the amounts presented. Estimated useful lives and depreciation of equipment Depreciation of equipment is dependent upon estimates of useful lives which are determined through the exercise of judgment. Changes to the estimated useful life of equipment could result in differences in their carrying amounts. TRILLION ENERGY INTERNATIONAL INC. Notes to the Consolidated Financial Statements For the years ended December 31, 2023 and 2022 (Expressed in U.S. dollars) 2. Material Accounting Policies (continued) Leases – Estimating the incremental borrowing rate The Company cannot readily determine the interest rate implicit in leases where it is the lessee. As such, it uses its incremental borrowing rate (“IBR”) to measure lease liabilities. The IBR is the rate of interest that the Company would have to pay to borrow over a similar term, and with a similar security, the funds necessary to obtain an asset of comparable value to the right-of-use asset in a similar economic environment. IBR therefore reflects what the Company “would have to pay”, which requires estimation when no observable rates are available or where the applicable rates need to be adjusted to reflect the terms and conditions of the lease. The Company estimates the IBR using observable inputs (such as market interest rates) when available and makes certain entity-specific estimates. Leases – Estimating the lease term The Company includes renewal options in the term of the lease when management deems that it is reasonably certain that the option will be exercised. Impairment of Non-current Assets Management applies judgment in assessing the existence of impairment indicators based on various internal and external factors. The recoverable amount of assets is determined based on the higher of fair value less costs of disposal or value-in-use calculations. The key estimates the Company applies in determining the recoverable amount normally include estimated future commodity prices, discount rates, expected production volumes, future operating and development costs, income taxes, and operating margins. In determining the recoverable amount, management may also be required to make judgments regarding the likelihood of occurrence of a future event. Changes to these estimates and judgments will affect the recoverable amounts of assets and may then require a material adjustment to their related carrying value. Stock-based Compensation The cost of equity-settled stock-based transactions (options, warrants, and equity-settled RSUs) with directors, officers and employees are measured by reference to the fair value of the equity instruments. Estimating fair value for equity-settled stock-based payment transactions requires determining the most appropriate valuation model, which is dependent on the terms and conditions of the grant. This estimate also requires determining and making assumptions about the most appropriate inputs to the valuation model including the expected life, volatility, risk-free interest rate, expected forfeiture rate and dividend yield of the stock option. Changes to these estimates and judgments will affect the operating result and may then require a material adjustment. Cash-settled RSUs are accounted for as liability instruments and are measured at fair value based on the market value of the Company’s common shares at each reporting period. The fair value is recognized as stock-based compensation over the vesting period. Fluctuations in the fair values are recognized as stock-based compensation over the vesting period. Fair Value of Derivative Liability The Company’s warrants and conversion features with exercise prices denominated in a currency other the Company’s functional currency are recognized as derivatives measured at fair value through the consolidated statements of income (loss) and comprehensive income (loss). Estimating fair value for derivative liability requires determining the most appropriate valuation model, which is dependent on the terms and conditions of the issuance. This estimate also requires determining and making assumptions about the most appropriate inputs to the valuation model including the expected life, volatility, risk-free interest rate, expected forfeiture rate and dividend yield of the derivatives. Changes to these estimates and judgments will affect the operating result and may then require a material adjustment. TRILLION ENERGY INTERNATIONAL INC. Notes to the Consolidated Financial Statements For the years ended December 31, 2023 and 2022 (Expressed in U.S. dollars) 2. Material Accounting Policies (continued) Deferred Tax Judgments are made by management at the end of the reporting period to determine the probability that deferred tax assets will be realized from future taxable earnings. Assessing the recoverability of deferred tax assets requires the Company to make judgments related to the expectations of future cash flows from operations and the application of existing tax laws in each jurisdiction. To the extent that assumptions regarding future profitability change, there can be an increase or decrease in the amounts recognized in consolidated statements of income (loss) and comprehensive income (loss) in the period in which the change occurs. (c) Cash and Cash Equivalents The Company considers all highly liquid instruments with a maturity of three months or less at the time of issuance to be cash equivalents. (d) Amounts Receivable Amounts receivable consist primarily of oil and gas receivables. The Company has classified these as current assets in the consolidated statements of financial position because the Company expects repayment or recovery within the next 12 months. The Company evaluates these accounts receivable for collectability and, when necessary, records allowance for doubtful accounts. The Company deems all accounts receivable to be collectable and has not recorded any expected credit losses. (e) Property and Equipment Property and equipment are stated at cost and depreciated using the straight-line method over the estimated useful life of the asset. The estimate useful lives are as follows: Motor vehicles – 3 3 5 3 (f) Revenue Recognition Revenue from Contracts with Customers The Company recognizes revenue when it satisfies its performance obligation(s) by transferring control over a product to a customer. Revenue is measured based on the consideration the Company expects to receive in exchange for those products. Performance Obligations and Significant Judgments The Company sells oil and natural gas products in Turkey. The Company enters into contracts that generally include one type of distinct product in variable quantities and priced based on a specific index related to the type of product. The oil and natural gas are typically sold in an unprocessed state to processors and other third parties for processing and sale to customers. The Company recognizes revenue at a point in time when control of the oil is transferred. For oil sales, control is typically transferred to the customer upon receipt at the wellhead or a contractually agreed upon delivery point. Under the Company’s natural gas contracts with processors, control transfers upon delivery at the wellhead or the inlet of the processing entity’s system. For the Company’s other natural gas contracts, control transfers upon delivery at the inlet or to a contractually agreed upon delivery point. In the cases where the Company sells to a processor, the Company has determined that the Company is the principal in the arrangement and the processors are the Company’s customers. The Company recognizes the revenue in these contracts based on the net proceeds received from the processor. TRILLION ENERGY INTERNATIONAL INC. Notes to the Consolidated Financial Statements For the years ended December 31, 2023 and 2022 (Expressed in U.S. dollars) 2. Material Accounting Policies (continued) For the Company’s product sales that have a contract term greater than one year, the Company uses the practical expedient in IFRS 15 Paragraph 121(a) which states the Company is not required to disclose the transaction price allocated to remaining performance obligations if the variable consideration is allocated entirely to an unsatisfied performance obligation. Under these sales contracts, each unit of product represents a separate performance obligation; therefore, future volumes are unsatisfied, and disclosure of the transaction price allocated to remaining performance obligations is not required. The Company has no unsatisfied performance obligations at the end of each reporting period. The Company does not believe that significant judgments are required with respect to the determination of the transaction price, including any variable consideration identified. There is a low level of uncertainty due to the precision of measurement and use of index-based pricing with predictable differentials. Additionally, any variable consideration identified is not constrained. (g) Evaluation and Exploration Assets Pre-license exploration costs are recognized in the consolidated statements of income (loss) and comprehensive income (loss) as incurred. The costs to acquire non-producing oil and gas properties or licenses to explore, drill exploratory wells and the costs to evaluate the commercial potential of underlying resources, including related borrowing costs, are initially capitalized as exploration and evaluation assets. Exploration and evaluation assets are subject to technical, commercial and management review to confirm the continued intent to develop and extract the underlying resources. If an area or exploration well is no longer considered commercially viable, the related capitalized costs are charged to exploration expense. Exploration and evaluation assets are not subject to depreciation, depletion, and amortization. When management determines with reasonable certainty that an exploration and evaluation asset will be developed, as evidenced by the classification of proved or probable reserves and the appropriate internal and external approvals, the asset is transferred to oil and gas properties. The Company records geological and geophysical expenses to the consolidated statements of income (loss) and comprehensive income (loss) as incurred. (h) Oil and Gas Properties Oil and gas properties (“O&G”) include development and productions costs, less accumulated depletion and depreciation and accumulated impairment loss. O&G are grouped into CGUs for impairment testing. The Company has grouped its O&G into two CGUs: the Cendere Oil Field and SASB Gas Field. When significant parts of an item of O&G have different useful lives, they are accounted for as separate items (major components). Costs incurred subsequent to the determination of technical feasibility and commercial viability and the costs of replacing parts of O&G are capitalized only when they increase the future economic benefits embodied in the specific asset to which they relate. All other expenditures are recognized in the consolidated statements of income (loss) and comprehensive income (loss) as incurred. Such capitalized items generally represent costs incurred in developing proved and/or probable reserves and bringing on or enhancing production from such reserves and are accumulated on a field or geotechnical area basis. The carrying amount of any replaced or sold component is derecognized. The costs of the day-to-day servicing of oil and gas properties are recognized in the consolidated statements of income (loss) and comprehensive income (loss) as incurred. TRILLION ENERGY INTERNATIONAL INC. Notes to the Consolidated Financial Statements For the years ended December 31, 2023 and 2022 (Expressed in U.S. dollars) 2. Material Accounting Policies (continued) (h) Oil and Gas Properties (continued) The net carrying value of O&G is depleted using the unit-of-production method by reference to the ratio of production in the year to the related proved reserves, considering estimated future development costs necessary to bring those reserves into production. The estimated future development costs is added to the carrying value of O&G to calculate depletion. These estimates are reviewed by independent reservoir engineers at least annually. (i) Impairment of Non-financial Assets Exploration and evaluation assets, O&G, and property and equipment are reviewed when events or changes in circumstances indicate the assets may not be recoverable. Exploration and evaluation assets are also tested for impairment immediately prior to being transferred to O&G. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss, if any. Impairment exists when the carrying value of an asset exceeds its recoverable amount, which is the higher of its fair value less costs to sell and its value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pretax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset. If the recoverable amount of an asset is estimated to be less than its carrying amount, the carrying amount of the asset is reduced to its recoverable amount and the impairment loss is recognized in the consolidated statements of income (loss) and comprehensive income (loss) . For an asset that does not generate largely independent cash inflows, the recoverable amount is determined for the CGU to which the asset belongs. These calculations are based on available data, other observable inputs, and projections of cash flows, all of which are subject to estimates and assumptions. Recoverable amounts are also sensitive to assumptions about the future usefulness of in-process development and the related marketing rights. (j) Provisions Provisions are recognized by the Company when it has a legal or constructive obligation as a result of past events, it is probable that an outflow of economic resources will be required to settle the obligation and a reliable estimate can be made of the amount of the obligation. Provisions are recognized for the asset retirement obligation associated with the Company’s exploration and evaluation assets and O&G. Provisions for the asset retirement obligation are measured at the present value of management’s best estimate of the future cash flows required to settle the present obligation, using the risk-free interest rate. The value of the obligation is added to the carrying amount of the associated asset and amortized over the useful life of the asset. The provision is accreted over time with actual expenditures charged against the accumulated obligation. Changes in the future cash flow estimates resulting from revisions to the estimated timing or amount of undiscounted cash flows are recognized as a change in the asset retirement obligation and related assets. TRILLION ENERGY INTERNATIONAL INC. Notes to the Consolidated Financial Statements For the years ended December 31, 2023 and 2022 (Expressed in U.S. dollars) 2. Material Accounting Policies (continued) (k) Financial Instruments Classification The Company classifies its financial instruments into one of the following categories: fair value through profit or loss (“FVTPL”), fair value through other comprehensive income (“FVOCI”), or at amortized cost. This determination is made at initial recognition. All financial instruments are initially recognized at fair value on the consolidated statements of financial position, net of any transaction costs except for financial instruments classified as FVTPL, where transaction costs are expensed as incurred. Subsequent measurement of financial instruments is based on their classification. The Company classifies its derivative liability and cash and cash equivalents as FVTPL, amounts receivable and notes and amounts receivable for equity issued as financial assets at amortized cost, and accounts payable and accrued liabilities, loans payable, and convertible debt as financial liabilities at amortized cost. Embedded derivatives in other financial instruments or other host contracts are recorded as separate derivatives when their risks and characteristics are not closely related to those of the host contract. Measurement Financial assets and liabilities at amortized cost Financial assets and liabilities at amortized cost are initially recognized at fair value plus or minus transaction costs, respectively, and subsequently carried at amortized cost sing the effective interest rate (“EIR”), less any impairment. Amortized cost is calculated by taking into account any discount or premium on acquisition and any fees or costs that are an integral part of the EIR. The EIR amortization is included in finance income in the consolidated statements of income (loss) and comprehensive income (loss). Financial assets and liabilities at FVTPL Financial assets and liabilities carried at FVTPL are initially recorded at fair value and transaction costs are expensed in the consolidated statements of income (loss) and comprehensive income (loss). Realized and unrealized gains and losses arising from subsequent changes in the fair value of the financial assets and liabilities held at FVTPL are included in the consolidated statements of income (loss) and comprehensive income (loss) in the period in which they arise. Debt investments at FVTOCI These assets are subsequently measured at fair value. Interest income calculated using the EIR method, foreign exchange gains and losses and impairment are recognized in the consolidated statements of income (loss) and comprehensive income (loss). Other net gains and losses are recognized in other comprehensive income (“OCI”). On derecognition, net gains and losses accumulated in OCI are reclassified to the consolidated statements of income (loss) and comprehensive income (loss). Equity investments at FVTOCI These assets are subsequently measured at fair value. Dividends are recognized as income in the consolidated statements of income (loss) and comprehensive income (loss) unless the dividend clearly represents a recovery of part of the cost of the investment. Other net gains and losses are recognized in OCI and are never reclassified to consolidated statements of income (loss) and comprehensive income (loss). TRILLION ENERGY INTERNATIONAL INC. Notes to the Consolidated Financial Statements For the years ended December 31, 2023 and 2022 (Expressed in U.S. dollars) 2. Material Accounting Policies (continued) Impairment of Financial Assets at Amortized Cost The Company recognizes an allowance for doubtful accounts on financial assets that are measured at amortized cost. At each reporting date, the Company measures the allowance for doubtful accounts for the financial asset at an amount equal to the lifetime expected credit losses if the credit risk on the financial asset has increased significantly since initial recognition. If at the reporting date the credit risk has not increased significantly since initial recognition, the Company measures the allowance for doubtful accounts for the financial asset at an amount equal to the twelve month expected credit losses. The Company shall recognize in the consolidated statements of income (loss) and comprehensive income (loss), as an impairment gain or loss, the amount of expected credit losses (or reversal) that is required to adjust the allowance for doubtful accounts at the reporting date to the amount that is required to be recognized. Fair value Fair value estimates are made at the consolidated statements of financial position date based on relevant market information and other information about financial instruments. Financial assets and financial liabilities measured at fair value in the consolidated statements of financial position are grouped into a fair value evaluation hierarchy. This hierarchy groups financial assets and financial liabilities into three levels according to the significance of the inputs used in the fair value evaluation of the financial assets and financial liabilities. The fair value levels of the hierarchy are as follows: Level 1 – Quoted prices (unadjusted) in active markets for identical assets and liabilities at the financial reporting date; Level 2 – Inputs, other than quoted prices included within Level 1, that are observable for the asset or liability, either directly or indirectly; and Level 3 – Inputs for the assets or liabilities that are not based on observable market data. The level within which the financial asset or financial liability is classified is determined based on the lowest level of significant input to the fair value measurement. The Company’s cash and cash equivalents is categorized as Level 1 and its derivative liability is categorized as Level 3. Derecognition Financial assets The Company derecognizes financial assets only when the contractual rights to cash flow from the financial assets expire, or when it transfers the financial assets and substantially all the associated risks and rewards of ownership to another entity. Financial liabilities The Company derecognizes financial liability when its contractual obligations are discharged or cancelled or expire. The Company also derecognizes a financial liability when the terms of the liability are modified such that the terms and / or cash flows of the modified instrument are substantially different, in which case a new financial liability based on the modified terms is initially recognized at fair value. Gains and losses on derecognition are recognized in consolidated statements of income (loss) and comprehensive income (loss). TRILLION ENERGY INTERNATIONAL INC. Notes to the Consolidated Financial

Amounts Receivable

Amounts Receivable	12 Months Ended
	Dec. 31, 2023
Amounts Receivable
Amounts Receivable	3. Amounts Receivable Schedule of Amounts Receivable December 31, 2023 December 31, 2022 Accounts receivable $ 1,403,781 $ 4,207,739 GST receivable 46,642 71,284 Interest receivable 44,339 52,538 Due from related parties 35,295 3,913 Other 63,288 2,351 Amounts receivable $ 1,593,345 $ 4,337,825

Prepaid expenses and deposits

Prepaid expenses and deposits	12 Months Ended
	Dec. 31, 2023
Notes and other explanatory information [abstract]
Prepaid expenses and deposits	4. Prepaid expenses and deposits Schedule of Prepaid Expenses and Deposits December 31, 2023 December 31, 2022 Exploration and production advances $ 174,031 $ 871,527 Prepaid expenses 426,487 83,852 Prepaid taxes 2,917 7,433 Close-Out Fund (Note 13) 371,124 - Prepaid expenses and deposits $ 974,559 $ 962,812 Prepaid expenses and deposits – Current $ 603,435 $ - Long-term deposits $ 371,124 $ -

Assets held for sale

Assets held for sale	12 Months Ended
	Dec. 31, 2023
Assets Held For Sale
Assets held for sale	5. Assets held for sale In 2023, management committed to a plan to sell left-over field equipment with a carrying amount of $ 3,036,216 Impairment losses of $ 1,556,787 Nil 1,479,429 Nil The non-recurring fair value measurement for the assets held for sale has been categorized as a Level 3 fair value and is based on management’s best estimate of the fair value of similar products in similar conditions in the marketplace. The key inputs used by management to estimate the fair value of the assets-held-for sale is based on offers received from third parties for a large portion of the equipment and extrapolation of the discount to similar items in the assets listing. TRILLION ENERGY INTERNATIONAL INC. Notes to the Consolidated Financial Statements For the years ended December 31, 2023 and 2022 (Expressed in U.S. dollars)

Oil and Gas Properties

Oil and Gas Properties	12 Months Ended
	Dec. 31, 2023
Oil And Gas Properties
Oil and Gas Properties	6. Oil and Gas Properties Schedule of Oil and Gas Properties SASB Cendere Total Cost As at December 31, 2021 $ 1,398,676 $ 2,453,485 $ 3,852,161 Additions 44,369,191 - 44,369,191 JV Contribution (6,656,785 ) - (6,656,785 ) Change in ARO estimate (3,865,772 ) (5,562 ) (3,871,334 ) Currency translation adjustment (4,748,897 ) - (4,748,897 ) Impact of hyperinflation 837,908 110,090 947,998 As at December 31, 2022 31,334,321 2,558,013 33,892,334 Cost, Beginning Balance 31,334,321 2,558,013 33,892,334 Additions 56,381,768 - 56,381,768 JV Contribution (29,623,835 ) - (29,623,835 ) Change in ARO estimate and additions 706,159 102 706,261 Currency translation adjustment (17,696,392 ) (948,518 ) (18,644,910 ) Impact of hyperinflation 21,039,584 1,042,395 22,081,979 Reclassified as assets held for sale (Note 5) (3,036,216 ) - (3,036,216 ) As at December 31, 2023 $ 59,105,389 $ 2,651,992 $ 61,757,381 Cost, Ending Balance $ 59,105,389 $ 2,651,992 $ 61,757,381 Accumulated depletion As at December 31, 2021 $ 743,647 $ 1,687,901 $ 2,431,548 Depletion 1,263,556 187,476 1,451,032 Impact of hyperinflation (34,215 ) (5,825 ) (40,040 ) As at December 31, 2022 1,972,988 1,869,552 3,842,540 Accumulated depletion, Beginning Balance 1,972,988 1,869,552 3,842,540 Depletion 5,038,009 81,165 5,119,174 Currency translation adjustment (731,475 ) (693,127 ) (1,424,602 ) Impact of hyperinflation 804,164 762,005 1,566,169 As at December 31, 2023 $ 7,083,686 $ 2,019,595 $ 9,103,281 Accumulated depletion, Ending Balance $ 7,083,686 $ 2,019,595 $ 9,103,281 Net book value As at December 31, 2022 $ 29,361,333 $ 688,461 $ 30,049,794 Net book value, Beginning Balance $ 29,361,333 $ 688,461 $ 30,049,794 As at December 31, 2023 $ 52,021,703 $ 632,397 $ 52,654,100 Net book value, Ending Balance $ 52,021,703 $ 632,397 $ 52,654,100 Cendere oil field The Cendere onshore oil field, which is located in South East Turkey has a total of 25 wells. The operator of the Cendere Field is Türkiye Petrolleri Anonim Ortaklığı (“TPAO”). The Company’s interest is 19.6 9.8 65,000 65,000 TRILLION ENERGY INTERNATIONAL INC. Notes to the Consolidated Financial Statements For the years ended December 31, 2023 and 2022 (Expressed in U.S. dollars) 6. Oil and Gas Properties (continued) The South Akcakoca Sub-Basin (“SASB”) The Company owns offshore production licenses called the South Akcakoca Sub-Basin (“SASB”). The Company owns a 49 Management assesses each field for impairment indicators at each reporting date. Impairment indicators considered include the following: ● Plans to discontinue or dispose of the asset before the previously expected date; ● Significant reductions in estimates or reserves; ● Significant cost overrun on a capital project; ● Significant increases in the expected cost of dismantling assets and restoring the site; and ● Production difficulties. As at December 31, 2023, the Company performed an assessment of potential impairment indicators and noted that the Company’s net asset value was greater than its market capitalization. As a result of the impairment indicator noted, the Company performed an impairment test in accordance with IFRS using fair value less cost to sell. For the purposes of testing impairment and determining fair value less cost to sell, the Company used a 30 year forecast of net cash flows obtained from the annual reserve report discounted at 10% and 20% to estimate the fair value of the oil and gas properties. The resulting recoverable amount exceeded the book values of the oil and gas properties and as such, no impairment charge was recognized as at December 31, 2023. As at December 31, 2023, the depletion calculation includes future development costs of $ 35,144,000 49,960,000

Exploration & Evaluation Assets

Exploration & Evaluation Assets	12 Months Ended
	Dec. 31, 2023
Notes and other explanatory information [abstract]
Exploration & Evaluation Assets	7. Exploration & Evaluation Assets Schedule of Exploration & Evaluation Asset Unproved Unproven Turkey Bulgaria Total As at December 31, 2021 $ - $ 3,116,146 $ 3,116,146 Impairment - (3,101,343 ) (3,101,343 ) Currency translation adjustment - (14,803 ) (14,803 ) As at December 31, 2022 and 2023 $ - $ - $ - Bulgaria The Company holds a 98,205-acre oil and gas exploration claim in the Dobrudja Basin located in northeast Bulgaria. The Company intends to conduct exploration for natural gas and test production activities over a five-year period in accordance with or exceeding its minimum work program obligation. The Company’s commitment is to perform geological and geophysical exploration activities in the first 3 years of the initial term (the “Exploration and Geophysical Work Stage”), followed by drilling activities in years 4 and 5 of the initial term (the “Data Evaluation and Drilling Stage”). Prior to the Exploration and Geophysical Work Stage, the Company is required to complete an environmental impact assessment (“EIA”). TRILLION ENERGY INTERNATIONAL INC. Notes to the Consolidated Financial Statements For the years ended December 31, 2023 and 2022 (Expressed in U.S. dollars) 7. Exploration & Evaluation Assets (continued) During the fall of 2022, the Company decided to recommence the EIA. The Company consulted with local counsel and an environmental consultant but was unable to determine whether it would be able to obtain the license. In October and November 2022, management made repeated efforts to obtain a visa to visit Bulgaria and seek clarification on the status of the license, however the visa applications were declined and management determined that it would no longer pursue the work program and would dispose of the property. As a result, the Company recorded an impairment loss of $ 3,101,343 Turkey Effective July 25, 2023, the Company entered into a farm-in agreement (the “Farm-in Agreement”) with a company existing under the laws of the Republic of Turkey (the “Farmor”). The Farmor holds a 100% undivided interest in three exploration licenses and is willing to assign and transfer a 50% undivided interest in the licenses to the Company in accordance with the terms of Farm-in Agreement. The Company has committed to the following terms to earn its interest (the “Farm-in Obligations”): (1) 2D Seismic Data Acquisition and Data Processing: (2) Exploration Well Drilling Obligation: (3) Cash Consideration Payment Obligation. 15,000 The Company and the Farmor will notify each other of their intent to enter into a joint exploration period. After the Company’s fulfillment of the Farm-in Obligations, the costs and liabilities of operations within the licenses will be shared equally based on a 50-50 principle. During the joint exploration period, there will be no Cash Consideration Payment Obligation as specified in (3) above. Under the terms of the Farm-in Agreement, the Company had to complete a minimum of 351km 2D seismic data acquisition within 2023, which could not be completed due to unfavorable weather conditions. In addition, the Farm-in Agreement specifies that the parties have agreed to enter into a joint operating agreement (“JOA”) and that if the JOA is not signed within 2 months (i.e. September 25, 2023), the Farm-in Agreement shall automatically terminate without the need for any additional notice, unless otherwise agreed by the parties. Although the deadline has passed, the Company and the Farmor continue to operate in good faith towards the completion of the Farm-in Obligations and towards the signing of a JOA, although no amending agreements or notices of understanding have been executed. During the year ended December 31, 2023, the Company expensed $ 381,618 TRILLION ENERGY INTERNATIONAL INC. Notes to the Consolidated Financial Statements For the years ended December 31, 2023 and 2022 (Expressed in U.S. dollars)

Property and Equipment

Property and Equipment	12 Months Ended
	Dec. 31, 2023
Notes and other explanatory information [abstract]
Property and Equipment	8. Property and Equipment Schedule of Property, Plant and Equipment Right-of-use Leasehold improvements Other Equipment Motor Vehicles Furniture Total Cost As at December 31, 2021 $ 53,143 $ 138,450 $ 2,102 $ 140,365 $ 9,685 $ 343,745 Additions - 42,699 289,640 332,528 32,061 696,928 Depreciation - - - - - - Disposals - - - (64,588 ) - (64,588 ) Currency translation adjustment (5,293 ) (2,890 ) (31,002 ) (37,147 ) (2,147 ) (78,479 ) Impact of hyperinflation 2,599 8,103 72,597 87,626 5,318 176,243 As at December 31, 2022 50,449 186,362 333,337 458,784 44,917 1,073,849 Additions 236,202 14,498 11,076 15,644 18,958 296,378 Disposals (47,685 ) - - (97,028 ) - (144,713 ) Currency translation adjustment (105,792 ) (60,555 ) (126,062 ) (151,880 ) (14,291 ) (458,580 ) Impact of hyperinflation 69,616 68,608 140,538 136,661 17,538 432,961 As at December 31, 2023 $ 202,790 $ 208,913 $ 358,889 $ 362,181 $ 67,122 $ 1,199,895 Accumulated depreciation As at December 31, 2021 $ 35,758 $ 115,109 $ 1,922 $ 41,377 $ 2,445 $ 196,611 Depreciation 4,549 12,324 47,423 74,622 6,117 145,035 Impact of hyperinflation (140 ) (438 ) (3,923 ) (4,735 ) (288 ) (9,524 ) As at December 31, 2022 40,167 126,995 45,422 111,264 8,274 332,122 Beginning Balance 40,167 126,995 45,422 111,264 8,274 332,122 Depreciation 37,457 13,135 52,084 62,920 10,168 175,764 Disposals (10,332 ) - - (30,267 ) - (40,599 ) Currency translation adjustment (14,892 ) (45,848 ) (16,840 ) (41,251 ) (2,513 ) (121,344 ) Impact of hyperinflation 16,372 50,404 18,513 45,350 2,763 133,402 As at December 31, 2023 $ 68,772 $ 144,686 $ 99,179 $ 148,016 $ 18,692 $ 479,345 Ending Balance $ 68,772 $ 144,686 $ 99,179 $ 148,016 $ 18,692 $ 479,345 Net Book Value As at December 31, 2022 $ 10,282 $ 59,367 $ 287,915 $ 347,520 $ 36,643 $ 741,727 As at December 31, 2023 $ 134,018 $ 64,227 $ 259,710 $ 214,165 $ 48,430 $ 720,550 Net Book Value $ 134,018 $ 64,227 $ 259,710 $ 214,165 $ 48,430 $ 720,550 During the year ended December 31, 2023, the Company disposed of equipment with a net book value of $ 66,761 86,296 19,535 37,353 69,217 31,864 During the year ended December 31, 2022, the Company disposed of equipment with a cost and net book value of $ 64,588 64,588 TRILLION ENERGY INTERNATIONAL INC. Notes to the Consolidated Financial Statements For the years ended December 31, 2023 and 2022 (Expressed in U.S. dollars)

Accounts Payable and Accrued Li

Accounts Payable and Accrued Liabilities	12 Months Ended
	Dec. 31, 2023
Notes and other explanatory information [abstract]
Accounts Payable and Accrued Liabilities	9. Accounts Payable and Accrued Liabilities Schedule of Accounts Payable and Accrued Liabilities December 31, 2023 December 31, 2022 Accounts payable $ 13,567,262 $ 8,376,620 Accrued liabilities 77,078 886,324 Payroll, withholding and sales tax liabilities 420,679 420,072 Cash calls received from JV partner - 917,064 Total $ 14,065,019 $ 10,600,080

Loans Payable

Loans Payable	12 Months Ended
	Dec. 31, 2023
Notes and other explanatory information [abstract]
Loans Payable	10. Loans Payable Schedule of Loans Payable As at December 31, 2023 December 31, 2022 Unsecured, interest-bearing loans at 10 1 $ - $ 12,107 Unsecured, interest-bearing loan at 45.33 2 - 56,537 Unsecured, interest-bearing loan at TLREF + 3.5944 3 - 97,911 Unsecured, interest-bearing loan at 37.7 4 19,461 - Unsecured, interest-bearing loan at 6 7,8 614,899 - Unsecured, interest-bearing loan at 1 6 2,822,250 - Unsecured, non- interest-bearing loan 9 7,840 - Total loans payable 3,464,450 166,555 Current portion of loans payable (3,464,450 ) (145,866 ) Long-term portion of loans payable $ - $ 20,689 (1) Loans bearing interest accrue at 10 January and April 1, 2021 Nil 135,868 Nil 3,515 12,107 (2) On May 25, 2022, Garanti Bank extended a long-term loan to Park Place Turkey Limited in the amount of ₺ 1,500,000 91,961 May 23, 2024 45.33 45,832 26,968 14,717 20,636 (3) On November 23, 2022, Garanti Bank extended a short-term loan to Park Place Turkey Limited in the amount of ₺ 2,000,000 107,356 November 23, 2023 3.5944 79,372 10,183 4,264 1,607 (4) On March 13, 2023, Garanti Bank extended a long-term loan to Park Place Turkey Limited in the amount of ₺ 2,000,000 105,386 March 12, 2024 37.67 61,627 nil 18,676 nil TRILLION ENERGY INTERNATIONAL INC. Notes to the Consolidated Financial Statements For the years ended December 31, 2023 and 2022 (Expressed in U.S. dollars) 10. Loans Payable (continued) (5) On February 1, 2023, the Company entered into an agreement with TR1 Master Fund to borrow $ 2,200,000 200,000 1 April 1, 2024 100,000 50,000 200,000 (6) On July 1, 2023, the Company entered into agreements with TR1 Master Fund to borrow $ 1,065,000 1,597,500 65,000 97,500 1 December 31, 2023 December 31, 2024 40,000 60,000 23,900 35,850 63,916 96,138 (7) On July 20, 2023, the Company entered into a promissory note with 1324025 BC Ltd for CAD$ 300,000 228,023 6 50,000 37,717 7,917 5,867 (8) On September 1, 2023, the Company entered into a promissory note with 2476393 Alberta Ltd for CAD$ 546,000 402,115 6 10,734 7,954 (9) On November 23, 2023, the Company entered into a short-term non-interest-bearing promissory note with 1647020 Alberta Ltd. for CAD$ 12,000 8,766 1,614 1,179 (10) On November 23, 2023, the Company entered into a short-term non-interest-bearing promissory note with a consultant of the Company for CAD$ 200,000 146,121 200,000 146,121 TRILLION ENERGY INTERNATIONAL INC. Notes to the Consolidated Financial Statements For the years ended December 31, 2023 and 2022 (Expressed in U.S. dollars)

Leases

Leases	12 Months Ended
	Dec. 31, 2023
Notes and other explanatory information [abstract]
Leases	11. Leases The Company leases certain assets under lease agreements. During the year ended December 31, 2023, the Company entered into three new office leases in Turkey, commencing January 1, 2023, February 15, 2023 and March 1, 2023, respectively. The leases all have a five The Company used an incremental borrowing rate (“IBR”) of 35 Schedule of Changes in Lease Liability Lease liability December 31, 2023 December 31, 2022 Lease liability December 31, 2023 December 31, 2022 Beginning balance $ 8,609 $ 15,324 Additions, cost 236,201 - Interest expense 53,831 1,378 Lease payments (85,271 ) (5,499 ) Currency translation adjustment (2,458 ) (2,594 ) Termination of lease (69,217 ) - Ending balance $ 141,695 $ 8,609 As at December 31, 2023, the Company’s lease liability is as follows: Schedule of Lease Liability Lease liability December 31, 2023 December 31, 2022 Lease liability December 31, 2023 December 31, 2022 Current portion of lease liability $ 19,637 $ 4,057 Long-term portion of lease liability 122,058 4,552 Lease liability $ 141,695 $ 8,609 Future minimum lease payments to be paid by the Company as a lessee as of December 31, 2023 are as follows: Schedule of Future Minimum Lease Payments Operating lease commitments and lease liability 2024 $ 58,919 2025 57,488 2026 59,163 2027 60,921 Total future minimum lease payments 236,491 Discount (94,796 ) Total $ 141,695 During the year ended December 31, 2023, $ 33,743 42,118

Convertible debentures

Convertible debentures	12 Months Ended
	Dec. 31, 2023
Convertible Debentures
Convertible debentures	12. Convertible debentures On April 20, 2023, the Company entered into an agreement to issue 15,000 1,000 15,000,000 11,135,145 1,000 742 333 2.50 1.86 June 29, 2025 TRILLION ENERGY INTERNATIONAL INC. Notes to the Consolidated Financial Statements For the years ended December 31, 2023 and 2022 (Expressed in U.S. dollars) 12. Convertible debentures (continued) The Debentures will mature on April 30, 2025 12 105 3.00 2.23 The convertible debentures were determined to be a financial instrument comprising a host debt component, a conversion feature classified as equity, and freestanding warrants classified as equity. The warrants and conversion features were determined to be equity components because the exercise prices are denominated in the functional currency of the Company. Thus, these components the criterion of an equity instrument. The Company paid an underwriting fee of CAD$ 1,045,000 775,748 300,000 2.50 April 20, 2025 216,777 3.77 100.96 0 2 On initial recognition, the proceeds were first allocated to the fair value of the host debt component, calculated using a market interest rate of 16 The relative fair value of the warrants and conversion features were determined using the Black-Scholes Option Pricing Model using the assumptions set out as follows: Schedule of Fair Value Assumptions of Conversion Features April 20, 2023 Risk-free interest rate 3.86 % Expected volatility 101.71 119.94 % Dividend yield 0 % Expected life 2.03 2.19 A continuity schedule of the Company’s convertible debt is as follows: Schedule of Convertible Debt Balance as at January 1, 2023 $ - Issued 11,135,145 Transaction costs (992,525 ) Transaction costs allocated to equity 77,086 Relative fair value of conversion feature (369,181 ) Relative fair value of Warrants (495,653 ) Repayment (709,022 ) Accretion 578,675 Interest 931,962 Currency translation adjustment 173,232 Balance as at December 31, 2023 $ 10,329,719 Current $ 227,092 Long-term $ 10,102,627 TRILLION ENERGY INTERNATIONAL INC. Notes to the Consolidated Financial Statements For the years ended December 31, 2023 and 2022 (Expressed in U.S. dollars)

Asset Retirement Obligation

Asset Retirement Obligation	12 Months Ended
	Dec. 31, 2023
Asset Retirement Obligation
Asset Retirement Obligation	13. Asset Retirement Obligation The following is a continuity of the Company’s asset retirement obligations: Schedule of Asset Retirement Obligations December 31, 2023 December 31, 2022 December 31, 2023 December 31, 2022 Beginning balance $ 5,316,470 $ 8,993,108 Additions 797,102 - Accretion expense 219,536 264,075 Impact of hyperinflation (599,096 ) (69,379 ) Currency translation adjustment 603,856 - Change in estimate (90,841 ) (3,871,334 ) Ending balance $ 6,247,027 $ 5,316,470 The Company’s asset retirement obligations (“ARO”) result from its interest in oil and gas assets including well sites. The total ARO is estimated based on the Company’s net ownership interest in all sites, estimated costs to reclaim and abandon these wells and the estimated timing of the costs to be included in future years. The Company estimated the total undiscounted amount required to settle the ARO as at December 31, 2023 is $ 16.5 10.6 2.5 2.5 4 3.91 10 20 During 2023, the Company and TPAO agreed to establish a close out-fund (the “Close-Out Fund”) in a US dollar bank account. The amounts accumulated in the Close-Out Fund will not be used for any purpose other than to cover the cost of close-out of the SASB project. The US dollar bank account is held by TPAO. Starting with the July 2023 natural gas revenue, each party agreed to transfer 10 371,124

Notes and Amounts Receivable fo

Notes and Amounts Receivable for Equity Issued	12 Months Ended
	Dec. 31, 2023
Notes And Amounts Receivable For Equity Issued
Notes and Amounts Receivable for Equity Issued	14. Notes and Amounts Receivable for Equity Issued Schedule of Notes and Amounts Receivable for the Equity Issued December 31, 2023 December 31, 2022 December 31, 2023 December 31, 2022 Notes receivable $ 97,907 $ 1,000,122 Amounts receivable 15,402 61,940 Notes and Amounts Receivable for Equity Issued $ 113,309 $ 1,062,062 The notes receivable bear interest at 5 The amounts receivable are non-interest bearing and due on demand. TRILLION ENERGY INTERNATIONAL INC. Notes to the Consolidated Financial Statements For the years ended December 31, 2023 and 2022 (Expressed in U.S. dollars) 14. Notes and Amounts Receivable for Equity Issued (continued) The following is a continuity of the Company’s notes and other receivables: Schedule of Note and Other Receivable Notes receivable Amounts receivable Total Balance, December 31, 2021 $ 1,158,832 $ 34,809 $ 1,193,641 Additions - 51,659 51,659 Repayments (136,611 ) (24,528 ) (161,139 ) Write-off (22,099 ) - (22,099 ) Balance, December 31, 2022 1,000,122 61,940 1,062,062 Balance 1,000,122 61,940 1,062,062 Repayments (297,678 ) (36,228 ) (333,906 ) Settled through RSU repurchase (Note 18) (604,537 ) - (604,537 ) Write-off - (10,310 ) (10,310 ) Balance, December 31, 2023 $ 97,907 $ 15,402 $ 113,309 Balance $ 97,907 $ 15,402 $ 113,309 During the year ended December 31, 2023, the interest income totaled $ 16,373 52,502 44,262 52,538 80,991 136,611 252,915 24,528

Common Stock

Common Stock	12 Months Ended
	Dec. 31, 2023
Notes and other explanatory information [abstract]
Common Stock	15. Common Stock The Company has an unlimited number of common shares authorized with no 115,250,810 76,775,071 For the year ended December 31, 2023 On November 28, 2023, the Company completed a short form prospectus, issuing 36,057,934 0.30 0.22 10,817,380 7,960,687 Cash finder’s fee of CAD$ 737,934 543,057 2,101,726 0.30 0.22 353,288 259,955 During the year ended December 31, 2023, the Company issued 150,000 212,632 195,290 17,342 During the year ended December 31, 2023, the Company issued 1,762,805 During the year ended December 31, 2023, 5,000 0.60 0.44 3,000 2,215 During the year ended December 31, 2023, the Company issued 60,000 29,299 11,957 17,342 During the year ended December 31, 2023, the Company entered into a consulting agreement pursuant to which an obligation to issue shares valued at $ 18,873 100,000 25,000 TRILLION ENERGY INTERNATIONAL INC. Notes to the Consolidated Financial Statements For the years ended December 31, 2023 and 2022 (Expressed in U.S. dollars) During the year ended December 31, 2023, the Company issued shares for the exercise of options as follows: 15. Common Stock (continued) ● 40,000 40,000 0.75 0.55 30,000 21,872 18,475 ● 70,000 70,000 2.20 1.62 154,000 113,717 72,050 ● 70,000 70,000 0.80 0.60 56,453 42,000 35,174 ● 60,000 60,000 0.75 0.56 45,000 33,479 29,939 ● 200,000 200,000 2.20 1.66 440,000 331,796 273,583 For the year ended December 31, 2022 During the year ended December 31, 2022, the Company issued shares for the exercise of warrants as follows: ● 538,250 538,250 0.50 0.38 269,125 202,713 336,464 ● 160,000 160,000 0.50 0.37 58,698 98,786 ● 50,000 50,000 0.50 0.37 10,949 8,034 31,511 14,051 10,310 ● 5,000 5,000 0.60 0.44 3,000 2,213 ● 49,000 49,000 1.00 0.76 49,000 37,225 ● 550,000 550,000 1.55 1.15 852,500 635,127 467,968 ● 9,500 9,500 2.25 1.69 21,375 16,101 1,159 ● 221,616 221,616 0.39 87,071 326,695 ● 250,000 250,000 0.40 100,000 121,604 ● 152,000 152,000 0.50 67,797 164,025 ● 200,000 200,000 0.80 160,000 210,627 TRILLION ENERGY INTERNATIONAL INC. Notes to the Consolidated Financial Statements For the years ended December 31, 2023 and 2022 (Expressed in U.S. dollars) 15. Common Stock (continued) During the year ended December 31, 2022, the Company issued shares for the exercise of options as follows: ● 60,000 60,000 0.40 0.29 24,000 17,609 16,557 ● 155,000 149,000 0.50 0.39 77,500 58,751 6,000 2,322 55,001 ● 50,000 50,000 0.50 0.39 25,000 19,270 18,474 ● 330,000 330,000 2.20 1.50 726,000 494,706 341,584 56,000 41,349 ● 80,000 80,000 0.60 48,000 43,290 In March 2022, the Company issued 21,331,588 0.825 17,598,610 13,886,226 2.25 1,397,495 1,108,790 1,501,357 994,775 600,000 495,000 391,021 On March 1, 2022, the Company entered into a consulting agreement with a third party. Pursuant to the consulting agreement, the Company issued 40,000 51,208 51,208 On March 17, 2022, the Company issued 181,818 150,000 118,188 150,000 118,188 During the year ended December 31, 2022, the Company issued 220,000 10,000 210,000 111,122 7,540 On June 29, 2022, the Company completed a short form prospectus, issuing 14,507,380 1.55 1.20 22,486,439 17,408,856 2.50 1.95 0.20 TRILLION ENERGY INTERNATIONAL INC. Notes to the Consolidated Financial Statements For the years ended December 31, 2023 and 2022 (Expressed in U.S. dollars) 15. Common Stock (continued) Cash finder’s fee of CAD$ 1,994,906 1,549,196 850,288 1,014,290 787,785 1.55 1.20 2.50 1.80

Stock Options

Stock Options	12 Months Ended
	Dec. 31, 2023
Notes and other explanatory information [abstract]
Stock Options	16. Stock Options The Board of Directors adopted the Trillion Energy International Inc. 2022 Long-Term Incentive Equity Plan (the “2022 Plan”) effective as of December 1, 2022. Under the 2022 Plan, the maximum number of shares of authorized stock that may be delivered is 10 A continuity of the Company’s outstanding stock options for the year ended December 31, 2023 and the year ended December 31, 2022 is presented below: Summary of Changes in Stock Options Number of options Weighted average Outstanding, December 31, 2021 1,528,000 $ 0.79 Granted 1,442,000 1.86 Exercised (669,000 ) 1.33 Expired (1,000 ) 0.50 Outstanding, December 31, 2022 2,300,000 $ 1.27 Exercised (440,000 ) 1.65 Expired (240,000 ) 0.79 Outstanding, December 31, 2023 1,620,000 $ 1.24 Exercisable, December 31, 2023 1,620,000 $ 1.24 At December 31, 2023 the Company had the following outstanding stock options: Schedule of Stock Options Outstanding and Exercisable Outstanding Exercise Price Expiry Date Vested 660,000 0.75 September 19, 2024 660,000 128,000 0.40 July 31, 2025 128,000 512,000 1.50 July 26, 2025 512,000 50,000 1.90 June 6, 2026 50,000 150,000 2.20 October 27, 2025 150,000 70,000 2.20 December 9, 2024 70,000 50,000 2.20 December 9, 2025 50,000 1,620,000 1,620,000 As at December 31, 2023, the weighted average remaining contractual life of outstanding stock options is 1.26 2.09 TRILLION ENERGY INTERNATIONAL INC. Notes to the Consolidated Financial Statements For the years ended December 31, 2023 and 2022 (Expressed in U.S. dollars) 16. Stock Options (continued) For the year ended December 31, 2023, the Company recognized $ 118,202 1,421,267 Nil 123,873 No stock options were granted during the year ended December 31, 2023.

Warrants

Warrants	12 Months Ended
	Dec. 31, 2023
Warrants
Warrants	17. Warrants A continuity of the Company’s outstanding share purchase warrants for the year ended December 31, 2023 and the year ended December 31, 2022 is presented below: Summary of Changes in Warrants Number of Weighted average exercise price (CAD) Outstanding, December 31, 2021 1,568,866 $ 0.63 Issued 21,011,038 2.31 Exercised (2,185,366 ) 0.87 Expired (7,000 ) 0.50 Outstanding, December 31, 2022 20,387,538 $ 2.33 Issued 7,402,726 1.88 Expired (10,000 ) 2.17 Outstanding, December 31, 2023 27,780,264 $ 2.21 At December 31, 2023, the Company had the following outstanding share purchase warrants: Schedule of Purchase Warrants Outstanding Outstanding Exercise Price Expiry Date 4,341,088 2.25 March 15, 2024 676,788 2.25 March 16, 2024 590,909 2.25 March 17, 2024 2,122,825 2.25 March 18, 2024 4,286,351 2.25 March 24, 2024 530,600 2.25 March 28, 2024 12,529,690 2.50 June 29, 2025 300,288 1.55 June 29, 2025 300,000 2.50 April 20, 2025 2,101,726 0.30 November 28, 2025 27,780,265 As at December 31, 2023, the weighted average remaining contractual life of outstanding warrants is 0.95 1.71 The Company had previously issued warrants in connection with private placements, or debt settlements where the exercise price of such warrants was denominated in USD. As such the warrants were classified as derivate liabilities. As at December 31, 2023, the fair value of the warrants were remeasured at $ Nil 4,827 686,504 TRILLION ENERGY INTERNATIONAL INC. Notes to the Consolidated Financial Statements For the years ended December 31, 2023 and 2022 (Expressed in U.S. dollars) 17. Warrants (continued) The following is a continuity of the Company’s derivative warrant liability: Schedule of Warrant Derivative Liability Total Balance, December 31, 2021 $ 472,899 Effect of change in functional currency (309,006 ) Exercise of warrants (822,950 ) Change in fair value of derivative 686,504 Foreign currency translation (22,620 ) Balance, December 31, 2022 $ 4,827 Change in fair value of derivative (4,827 ) Balance, December 31, 2023 $ - The fair values for finder’s warrants granted during the year ended December 31, 2023 and the warrants granted during the year ended December 31, 2022, have been estimated using the Black-Scholes option pricing model using the following assumptions: Schedule of Weighted Average Assumption for Warrants 2023 2022 Risk-free interest rate 3.77 4.43 % 1.21 3.13 % Expected life (years) 2 2 3 Expected volatility 101 104 154 182 Dividend yield 0 % 0 %

Restricted Stock Units

Restricted Stock Units	12 Months Ended
	Dec. 31, 2023
Restricted Stock Units
Restricted Stock Units	18. Restricted Stock Units During the year ended December 31, 2023, the Company granted RSUs as follows: ● On January 1, 2023, the Company granted 256,800 ● On May 11, 2023, the Company granted 601,000 ● On July 6, 2023, the Company granted 75,000 ● On September 2, 2023, the Company granted 75,464 ● On September 15, 2023, the Company granted 452,785 ● On October 17, 2023, the Company granted 650,000 ● On December 31, 2023, the Company granted 1,365,610 For the year ended December 31, 2023, the Company recognized $ 2,279,059 697,650 Schedule of Restricted Stock Units Number of unvested Weighted average Balance, December 31, 2021 – $ – Granted 885,012 1.10 Vested (885,012 ) 1.10 Balance, December 31, 2022 – – Granted 3,476,659 0.81 Canceled (30,000 ) 2.00 Vested (3,446,659 ) 0.80 Balance, December 31, 2023 - - TRILLION ENERGY INTERNATIONAL INC. Notes to the Consolidated Financial Statements For the years ended December 31, 2023 and 2022 (Expressed in U.S. dollars) 18. Restricted Stock Units (continued) The Company previously granted certain RSU’s whereby the holder has the right and option to require the Company to withhold up to one third of the RSU shares awarded to pay the cash equivalent of the market price of the shares on the date of vesting. As a result, a portion of the value of the RSU’s is recorded as a RSU obligation liability. As at December 31, 2023, the balance of the RSU obligation was $ 18,398 295,747 During the year ended December 31, 2023, the Company repurchased 667,868 993,136 919,790 73,346 604,537 During the year ended December 31, 2023, the Company recorded an obligation to issue shares of $ 283,094 1,365,610 1,518,010 675,012

Related Party Transactions

Related Party Transactions	12 Months Ended
	Dec. 31, 2023
Notes and other explanatory information [abstract]
Related Party Transactions	19. Related Party Transactions On February 10, 2023, the Company’s Board of Directors approved a new compensation plan for the directors of the Company effective January 1, 2023. At December 31, 2023, accounts payable and accrued liabilities included $ 115,526 210,070 During the year ended December 31, 2023, management fees and salaries of $ 924,083 711,766 145,500 92,000 52,313 nil 1,294,051 926,119 During the year ended December 31, 2023, the Company issued 808,680 During the year ended December 31, 2023, the Company issued 80,000 115,304 160,000 118,261 2,957 400,000 260,681 260,681 During the year ended December 31, 2023, the Company repurchased 586,868 799,212 473,331 As at December 31, 2023, notes receivable included $ Nil 450,325 5 As at December 31, 2023, notes payable included CAD$ 402,115 420,281 Nil 6 December 31, 2024 TRILLION ENERGY INTERNATIONAL INC. Notes to the Consolidated Financial Statements For the years ended December 31, 2023 and 2022 (Expressed in U.S. dollars) 19. Related Party Transactions (continued) As at December 31, 2022, pursuant to agreements between four directors and the Company, each of the four directors shall be granted 40,000 50,000 80,000 19,077 255,206 65,160 190,047 As at December 31, 2022, a director of the Company was granted 12,000 21,283 14,189 7,094 On September 2, 2020, the CEO signed an employment agreement with the Company in which the CEO shall receive: ● 20,000 ● If during the term of the Agreement, the Company completes any cash financing of $ 5,000,000 50,000 25,000 5,000,000 ● Upon spudding of the first well by the Company, the Company shall grant 50,000 50,000 ● If during the term of the Agreement, the Company enters into any non-financing transaction, a cash bonus of USD$ 100,000 The value of these RSUs and the stock-based compensation recognized is $ 295,818 197,212 98,606 On July 15, 2022, the CFO signed an employment agreement with the Company in which the CFO shall receive: ● 20,000 ● 30,000 ● For each subsequent year, the number of RSUs is determined in context of the market price of the shares and in respect to the performance of the Company; ● A bonus of 20,000 15,000 ● A bonus of 25,000 20,000 ● A bonus of $ 25,000 5,000,000 As the agreement can be terminated at any time, the RSU’s are recognized only upon the conditions above being met; as a result, no share based compensation has been recognized under this agreement for the year ended December 31, 2022. During the year ended December 31, 2023, 20,000 TRILLION ENERGY INTERNATIONAL INC. Notes to the Consolidated Financial Statements For the years ended December 31, 2023 and 2022 (Expressed in U.S. dollars) 19. Related Party Transactions (continued) On July 15, 2022, the COO signed an employment agreement with the Company in which the COO shall receive: ● 25,000 ● 30,000 ● For each subsequent year, the number of RSUs is determined in context of the market price of the shares and in respect to the performance of the Company; ● A bonus of 20,000 15,000 ● A bonus of 25,000 20,000 As the agreement can be terminated at any time, the RSU’s are recognized only upon the conditions above being met; as a result, no share based compensation has been recognized under this agreement for the year ended December 31, 2022. As at December 31, 2023, 25,000 33,111 On August 18, 2022, the Company entered into a settlement agreement with the former CFO of the Company upon resignation, whereupon the Company will issue/pay: ● 65,000 94,300 ● $ 210,000 ○ $ 110,000 ○ $ 50,000 $ 50,000 ● 40,000 32,635 ● 15,000 21,762 For the compensation above, all previous amounts owed/owing will be settled, including $ 49,800 285,120

General and Administrative

General and Administrative	12 Months Ended
	Dec. 31, 2023
Notes and other explanatory information [abstract]
General and Administrative	20. General and Administrative Schedule of General and Administrative Expense December 31, 2023 December 31, 2022 For the years ended December 31, 2023 December 31, 2022 Salaries and compensation $ 5,633,959 $ 4,386,716 Professional fees 820,047 552,975 Investor relations 236,441 592,155 Office 230,472 119,999 Advertising 123,293 519,321 Filing and transfer fees 111,987 96,701 Travel 114,335 87,285 Penalties 19,763 30,208 Bank charges and other 4,675 12,140 General and Administrative $ 7,294,972 $ 6,397,500 TRILLION ENERGY INTERNATIONAL INC. Notes to the Consolidated Financial Statements For the years ended December 31, 2023 and 2022 (Expressed in U.S. dollars)

Segmented Information

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. Schedule of Geographical Segment Information 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 Year ended December 31 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 As at December 31 Non-current assets $ 42,781 $ 30,748,740 $ - $ 30,791,521 The Company’s breakdown of net revenue by product segment is as follows: Schedule of Net Revenue By Product Segment December 31, 2023 December 31, 2022 For the year ended December 31, 2023 December 31, 2022 Oil $ 3,055,800 $ 4,087,664 Gas 13,741,566 5,287,365 Oil and gas revenue, net $ 16,797,366 $ 9,375,029 The Company incurs royalties of 12.5 2,242,613 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)

Capital Management

Capital Management	12 Months Ended
	Dec. 31, 2023
Notes and other explanatory information [abstract]
Capital Management	22. Capital Management The Company’s objectives when managing capital are to safeguard the Company’s ability to continue as a going concern to support its business plan, as well as to ensure that the Company is able to meet its financial obligations as they become due. The basis for the Company’s capital structure is dependent on the Company’s expected business growth and changes in business environment. To maintain or adjust the capital structure, the Company may issue new shares through private placement, incur debt or return capital to members. The Company is dependent upon external financings to fund activities. In order to carry future projects and pay administrative costs, the Company will utilize its existing working capital and raise additional funds as needed. Management reviews its capital management approach on an ongoing basis and believes that this approach, given the relative size of the Company, is reasonable. The Company is not subject to externally imposed capital requirements.

Financial Instruments and Risk

Financial Instruments and Risk Management	12 Months Ended
	Dec. 31, 2023
Financial Instruments And Risk Management
Financial Instruments and Risk Management	23. Financial Instruments and Risk Management The Company is exposed, through its operations, to the following financial risks: a) Market risk b) Credit risk c) Liquidity risk The Company is exposed to risks that arise from its use of financial instruments. This note describes the Company’s objectives, policies, and processes for managing those risks and the methods used to measure them. Further quantitative information in respect of these risks is presented throughout these consolidated financial statements. There have been no substantive changes in the Company’s exposure to financial instrument risks, its objectives, polices and processes for managing those risks or the methods used to measure them from previous reported periods unless otherwise stated in the note. The overall objective of management is to set policies that seek to reduce risk as far as possible without unduly affecting the Company’s competitiveness and flexibility. Further details regarding these policies are set out below. a) Market risk Market risk is the risk of loss that may arise from changes in market factors such as foreign currency exchange, interest rates and equity price risk. Foreign currency risk: Foreign currency risk is the risk that the fair values of future cash flows of a financial instrument will fluctuate because they are denominated in currencies that differ from the respective functional currency. The Company and its subsidiaries are exposed to currency risk as it has transactions denominated in currencies that are different from their functional currencies. The Company does not hedge its exposure to fluctuations in foreign exchange rates. As at December 31, 2023, the Company’s significant foreign exchange currency exposure on its financial instruments, expressed in USD was as follows: If the CAD strengthened or weakened against the USD by 10 954,252 30,435 TRILLION ENERGY INTERNATIONAL INC. Notes to the Consolidated Financial Statements For the years ended December 31, 2023 and 2022 (Expressed in U.S. dollars) 23. Financial Instruments and Risk Management (continued) Interest rate risk: Interest rate risk is the risk that future cash flows will fluctuate because of changes in market interest rates. The interest earned on cash is insignificant and the Company does not rely on interest income to fund its operations. The Company does not have significant debt facilities with variable interest rates and is therefore not exposed to interest rate risk. Other price risk: Other price risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate because of changes in market prices. The Company does not hold equity investments in other entities and therefore is not exposed to a significant risk. b) Credit risk Credit risk is the risk of an unexpected loss if a customer or third party to a financial instrument fails to meet its contractual obligations. The Company is subject to credit risk on its cash and cash equivalents and amounts receivable which consists primarily of trade receivables and notes and amounts receivable for equity issued. The Company limits its exposure to credit loss on cash and cash equivalents by placing its cash with a high-quality financial institution. Exposure to credit loss notes and amounts receivable for equity issued is limited by entering into these types of transactions with related parties and entities that are well known to the Company. The Company only has two customers. The Company mitigates credit risk by evaluating the creditworthiness of customers prior to conducting business with them and monitoring its exposure for credit losses with existing customers. One of the customers is the largest oil refinery in Turkey. The other customer provides letters of credit to be used by the Company in the event of default. As at December 31, 2023, all of the Company’s trade receivables are current (< 30 days outstanding). The Company’s maximum credit exposure is $ 2,848,457 5,263,886 c) Liquidity risk Liquidity risk arises from the Company’s general and capital financing needs. The Company continuously monitors and reviews both actual and forecasted cash flows, and also matches the maturity profile of financial assets and liabilities, when feasible. The Company anticipates increases in revenue in future periods resulting from the completion of an additional well subsequent to the period end. Historically, the Company’s sources of funding has been through equity and debt financings. The Company’s access to financing is uncertain. There can be no assurance of continued access to significant debt or equity funding. TRILLION ENERGY INTERNATIONAL INC. Notes to the Consolidated Financial Statements For the years ended December 31, 2023 and 2022 (Expressed in U.S. dollars) 23. Financial Instruments and Risk Management (continued) The table below summarizes the maturity profile of the Company’s contractual cashflows. Summary of Maturity Profile of the Contractual Cash Flow As at December 31, 2023 Less than 1 year 1 – 2 years Later than 2 years Total Accounts payable and accrued liabilities $ 14,065,019 $ - $ - $ 14,065,019 Loans payable 3,464,450 - - 3,464,450 Lease liability 58,919 116,651 60,921 236,491 RSU obligation 18,398 - - 18,398 Convertible debt 1,361,525 11,988,362 - 13,349,887 Derivative liability Total liabilities $ 18,968,311 $ 12,105,013 $ 60,921 $ 31,134,245 As at December 31, 2022 Less than 1 year 1 - 2 years Later than 2 years Total Accounts payable and accrued liabilities $ 10,600,080 $ - $ - $ 10,600,080 Loans payable 145,866 20,689 - 166,555 Lease liability 4,807 4,807 - 9,614 RSU obligation 295,747 - - 295,747 Derivative liability - 4,827 - 4,827 Total liabilities $ 11,046,500 $ 30,323 $ - $ 11,076,823

Income Tax

Income Tax	12 Months Ended
	Dec. 31, 2023
Notes and other explanatory information [abstract]
Income Tax	24. Income Tax A reconciliation of current income taxes at statutory rates with the reported taxes is as follows: Schedule of Reconciliation of Current Income Taxes 2023 2022 Net income (loss) before income taxes $ 758,132 $ (6,121,754 ) Effective tax rate 27 % 27 % Expected income tax recovery $ 204,696 $ (1,652,874 ) Change in statutory, foreign tax, foreign exchange rates, and other (204,794 ) 238,194 Permanent differences 1,335,140 649,306 Adjustment to prior years provision versus statutory tax returns and expiry of non-capital losses 249,576 - Change in unrecognized deductible temporary differences 275,708 765,374 Total $ 1,860,326 $ - TRILLION ENERGY INTERNATIONAL INC. Notes to the Consolidated Financial Statements For the years ended December 31, 2023 and 2022 (Expressed in U.S. dollars) 24. Income Tax (continued) The tax effected items that give rise to significant portions of the deferred tax assets and deferred tax liabilities as at year-end are presented below: Schedule of Deferred Tax Assets and Liabilities 2023 2022 Deferred tax liabilities Exploration and evaluation assets $ (9,990,074 ) $ (1,426,133 ) Property and equipment (60,011 ) - Convertible debt (327,305 ) - Deferred tax assets Assets held for sale $ 311,357 $ - Asset retirement obligation 1,249,406 Non-capital losses 6,685,079 1,426,133 Net deferred tax assets (liabilities) $ (2,131,548 ) $ - The Company recognizes tax benefits on losses or other deductible amounts where the probable criteria for the recognition of deferred tax assets has been met. The Company’s unrecognized deductible temporary differences and unused tax losses for which no deferred tax asset is recognized consist of the following amounts: Schedule of Deductible Temporary Differences and Unused Tax Losses 2023 Expiry 2022 Expiry Share issue costs 2,782,651 2027 2,119,858 2027 Property and equipment 16,101 N/A 153,117 N/A Asset retirement obligation - N/A 5,718,041 N/A Non-capital losses 24,377,533 See below 28,385,944 See below Canada 10,360,380 2042 to 2043 3,995,237 2042 USA 4,228,651 indefinite 16,533,694 indefinite USA 9,785,059 2028 to 2037 Turkey - N/A 723,950 2024 to 2027 Bulgaria 3,443 2028 2,401 2027

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 31, 2023
Notes and other explanatory information [abstract]
Commitments and Contingencies	25. Commitments and Contingencies Close-out Fund The Company has committed to contribute to the Close-Out Fund (Note 13) and is required to deposit 10 Arbitration The Company through its’ subsidiary PPE Turkey has advanced arbitration against an offshore drilling rig contractor for $ 20.3 TRILLION ENERGY INTERNATIONAL INC. Notes to the Consolidated Financial Statements For the years ended December 31, 2023 and 2022 (Expressed in U.S. dollars) 25. Commitments and Contingencies (continued) The Company and its subsidiary PPE Turkey is defending an action brought by the same drilling contractor in Europe to which it has advanced an arbitration claim, for drilling services and lost profits seeking $ 5 In accordance with guidance for contingent assets and liabilities, no provision for any potential recovery of the Trillion Losses will be made until recovery is virtually certain. If the Company’s claim is successful, the award will exceed the amount, if any, that is payable to the drilling contractor in its claim, notwithstanding the same, the Company has evaluated the two competing actions separately. As such, the Company has recorded an amount in accounts payable and accrued liabilities for the disputed drilling services for $ 3 20.3 Maturity date of TR1 Master Fund loans The Company has two loan agreements dated July 1, 2023 with TR1 Master Fund whereby the Company owes $ 2,822,250 December 31, 2023

Subsequent Events

Subsequent Events	12 Months Ended
	Dec. 31, 2023
Notes and other explanatory information [abstract]
Subsequent Events	26. Subsequent Events On January 2, 2024, the Company entered into a consulting agreement with San Diego Torry Hills Capital, Inc for consulting services to the Company, including developing, coordinating, managing and executing a comprehensive corporate finance and investor relations campaign for the Company. Pursuant to the agreement, the Company granted 200,000 0.30 January 2, 2027 ● 50,000 ● 50,000 ● 50,000 ● 50,000 Subsequent to December 31, 2023, the Company issued common shares as follows: ● 2,178,957 ● 4,486,250 ● 673,375 ● 640,950 ● 333 1,000

Material Accounting Policies (P

Material Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2023
Notes and other explanatory information [abstract]
Basis of Presentation	(a) Basis of Presentation   The audited consolidated financial statements of the Company have been prepared in accordance with International Financial Reporting Standards (“IFRS”) issued by the International Accounting Standards Board (“IASB”) and Interpretations of the International Financial Reporting Interpretations Committee (“IFRIC”), effective as at January 1, 2023. The consolidated financial statements are expressed in U.S. dollars. These consolidated financial statements include the accounts of the Company and its wholly owned subsidiaries Park Place Energy Corp. (“PPE Corp.”), Park Place Energy Bermuda (“PPE Bermuda”), BG Exploration EOOD (“BG Exploration”), and Park Place Energy Turkey (“PPE Turkey”). The Company’s oil and gas operations are conducted jointly with its joint venture partner (Note 6). The joint arrangement meets the definition of a joint operation under IFRS 11, “Joint Arrangements” (“IFRS 11”); therefore, the Company’s share of the assets, liabilities, revenues and expenses are recorded in the consolidated financial statements. All intercompany balances and transactions are eliminated on consolidation.
Use of Estimates and Judgments	(b) Use of Estimates and Judgments In the process of applying the Company’s accounting policies, management has made the following judgments, which have the most significant effect on the amounts recognized in the consolidated financial statements: Functional Currency The functional currency for the Company and each of its subsidiaries is the currency of the primary economic environment in which the entity operates. Determination of the functional currency involves certain judgments to determine the primary economic environment and the Company reconsiders the functional currency of its entities if there is a change in events and conditions which determined the primary economic environment. Determination of Cash Generating Units (“CGUs”) A CGU is the lowest grouping of integrated assets that generate identifiable cash inflows that are largely independent of the cash inflows of other assets or groups of assets. The allocation of assets into CGUs requires significant judgment and interpretations with respect to the integration between assets, the existence of active markets, similar exposure to market risks, shared infrastructure, and the way in which management monitors the operations. Going concern The assessment of the Company’s ability to continue as a going concern and to raise sufficient funds to pay its ongoing operating expenditures and to meet its liabilities for the ensuing year, involves significant judgment based on historical experience and other factors, including expectation of future events that are believed to be reasonable under the circumstances. TRILLION ENERGY INTERNATIONAL INC. Notes to the Consolidated Financial Statements For the years ended December 31, 2023 and 2022 (Expressed in U.S. dollars) 2. Material Accounting Policies (continued) Asset Retirement Obligation The Company recognizes obligation for the future decommissioning and restoration of the Company’s exploration and evaluation assets and oil and gas properties based on estimated future decommissioning and restoration costs. Management applies judgment in assessing the existence and extent as well as the expected method of reclamation of the Company’s decommissioning and restoration obligations at the end of each reporting period. Management also uses judgment to determine whether the nature of the activities performed is related to decommissioning and restoration activities or normal operating activities. In the process of applying the Company’s accounting policies, management has made the following estimates, which have the most significant effect on the amounts recognized in the consolidated financial statements: Convertible debt During the year ended December 31, 2023, the Company completed a convertible debenture financing. The convertible debentures include certain conversion features and associated warrants which were valued using the option pricing model and required significant assumptions to be made by management to value. Oil and Gas Reserves The Company’s estimate of oil and gas reserves is considered in the measurement of depletion, depreciation, impairment, and decommissioning and restoration obligations. The estimation of reserves is an inherently complex process and involves the exercise of professional judgment. All reserves are evaluated annually by independent qualified reserves evaluators. Oil and gas reserves estimates are based on a range of geological, technical and economic factors, including projected future rates of production, projected future commodity prices, engineering data, and the timing and amount of future expenditures, all of which are subject to uncertainty. Estimates reflect market and regulatory conditions existing at the evaluation date, which could differ significantly from other points in time throughout the period, or future periods. Changes in market and regulatory conditions and assumptions, as well as climate change, and the evolving worldwide demand for energy and global advancement of alternative sources of energy that are not sourced from fossil fuels can materially impact the estimation of net reserves. Allowance for doubtful accounts Estimates are inherent in the on-going assessment of the recoverability of amounts receivable. The Company maintains an allowance for doubtful accounts to reflect the expected credit losses. Uncertainty relates to the actual collectability of customer balances that can vary from the Company’s estimation. Asset Retirement Obligation The Company recognizes obligation for the future decommissioning and restoration of the Company’s exploration and evaluation assets and oil and gas properties based on estimated future decommissioning and restoration costs. Actual costs are uncertain, and estimates may vary as a result of changes to relevant laws and regulations related to the use of certain technologies, the emergence of new technology, operating experience, prices and closure plans. The estimated timing of future decommissioning and restoration may change due to certain factors, including reserves life. Changes to estimates related to future expected costs, discount rates, inflation assumptions, and timing may have a material impact on the amounts presented. Estimated useful lives and depreciation of equipment Depreciation of equipment is dependent upon estimates of useful lives which are determined through the exercise of judgment. Changes to the estimated useful life of equipment could result in differences in their carrying amounts. TRILLION ENERGY INTERNATIONAL INC. Notes to the Consolidated Financial Statements For the years ended December 31, 2023 and 2022 (Expressed in U.S. dollars) 2. Material Accounting Policies (continued) Leases – Estimating the incremental borrowing rate The Company cannot readily determine the interest rate implicit in leases where it is the lessee. As such, it uses its incremental borrowing rate (“IBR”) to measure lease liabilities. The IBR is the rate of interest that the Company would have to pay to borrow over a similar term, and with a similar security, the funds necessary to obtain an asset of comparable value to the right-of-use asset in a similar economic environment. IBR therefore reflects what the Company “would have to pay”, which requires estimation when no observable rates are available or where the applicable rates need to be adjusted to reflect the terms and conditions of the lease. The Company estimates the IBR using observable inputs (such as market interest rates) when available and makes certain entity-specific estimates. Leases – Estimating the lease term The Company includes renewal options in the term of the lease when management deems that it is reasonably certain that the option will be exercised. Impairment of Non-current Assets Management applies judgment in assessing the existence of impairment indicators based on various internal and external factors. The recoverable amount of assets is determined based on the higher of fair value less costs of disposal or value-in-use calculations. The key estimates the Company applies in determining the recoverable amount normally include estimated future commodity prices, discount rates, expected production volumes, future operating and development costs, income taxes, and operating margins. In determining the recoverable amount, management may also be required to make judgments regarding the likelihood of occurrence of a future event. Changes to these estimates and judgments will affect the recoverable amounts of assets and may then require a material adjustment to their related carrying value. Stock-based Compensation The cost of equity-settled stock-based transactions (options, warrants, and equity-settled RSUs) with directors, officers and employees are measured by reference to the fair value of the equity instruments. Estimating fair value for equity-settled stock-based payment transactions requires determining the most appropriate valuation model, which is dependent on the terms and conditions of the grant. This estimate also requires determining and making assumptions about the most appropriate inputs to the valuation model including the expected life, volatility, risk-free interest rate, expected forfeiture rate and dividend yield of the stock option. Changes to these estimates and judgments will affect the operating result and may then require a material adjustment. Cash-settled RSUs are accounted for as liability instruments and are measured at fair value based on the market value of the Company’s common shares at each reporting period. The fair value is recognized as stock-based compensation over the vesting period. Fluctuations in the fair values are recognized as stock-based compensation over the vesting period. Fair Value of Derivative Liability The Company’s warrants and conversion features with exercise prices denominated in a currency other the Company’s functional currency are recognized as derivatives measured at fair value through the consolidated statements of income (loss) and comprehensive income (loss). Estimating fair value for derivative liability requires determining the most appropriate valuation model, which is dependent on the terms and conditions of the issuance. This estimate also requires determining and making assumptions about the most appropriate inputs to the valuation model including the expected life, volatility, risk-free interest rate, expected forfeiture rate and dividend yield of the derivatives. Changes to these estimates and judgments will affect the operating result and may then require a material adjustment. TRILLION ENERGY INTERNATIONAL INC. Notes to the Consolidated Financial Statements For the years ended December 31, 2023 and 2022 (Expressed in U.S. dollars) 2. Material Accounting Policies (continued) Deferred Tax Judgments are made by management at the end of the reporting period to determine the probability that deferred tax assets will be realized from future taxable earnings. Assessing the recoverability of deferred tax assets requires the Company to make judgments related to the expectations of future cash flows from operations and the application of existing tax laws in each jurisdiction. To the extent that assumptions regarding future profitability change, there can be an increase or decrease in the amounts recognized in consolidated statements of income (loss) and comprehensive income (loss) in the period in which the change occurs.
Cash and Cash Equivalents	(c) Cash and Cash Equivalents The Company considers all highly liquid instruments with a maturity of three months or less at the time of issuance to be cash equivalents.
Amounts Receivable	(d) Amounts Receivable Amounts receivable consist primarily of oil and gas receivables. The Company has classified these as current assets in the consolidated statements of financial position because the Company expects repayment or recovery within the next 12 months. The Company evaluates these accounts receivable for collectability and, when necessary, records allowance for doubtful accounts. The Company deems all accounts receivable to be collectable and has not recorded any expected credit losses.
Property and Equipment	(e) Property and Equipment Property and equipment are stated at cost and depreciated using the straight-line method over the estimated useful life of the asset. The estimate useful lives are as follows: Motor vehicles – 3 3 5 3
Revenue Recognition	(f) Revenue Recognition Revenue from Contracts with Customers The Company recognizes revenue when it satisfies its performance obligation(s) by transferring control over a product to a customer. Revenue is measured based on the consideration the Company expects to receive in exchange for those products. Performance Obligations and Significant Judgments The Company sells oil and natural gas products in Turkey. The Company enters into contracts that generally include one type of distinct product in variable quantities and priced based on a specific index related to the type of product. The oil and natural gas are typically sold in an unprocessed state to processors and other third parties for processing and sale to customers. The Company recognizes revenue at a point in time when control of the oil is transferred. For oil sales, control is typically transferred to the customer upon receipt at the wellhead or a contractually agreed upon delivery point. Under the Company’s natural gas contracts with processors, control transfers upon delivery at the wellhead or the inlet of the processing entity’s system. For the Company’s other natural gas contracts, control transfers upon delivery at the inlet or to a contractually agreed upon delivery point. In the cases where the Company sells to a processor, the Company has determined that the Company is the principal in the arrangement and the processors are the Company’s customers. The Company recognizes the revenue in these contracts based on the net proceeds received from the processor. TRILLION ENERGY INTERNATIONAL INC. Notes to the Consolidated Financial Statements For the years ended December 31, 2023 and 2022 (Expressed in U.S. dollars) 2. Material Accounting Policies (continued) For the Company’s product sales that have a contract term greater than one year, the Company uses the practical expedient in IFRS 15 Paragraph 121(a) which states the Company is not required to disclose the transaction price allocated to remaining performance obligations if the variable consideration is allocated entirely to an unsatisfied performance obligation. Under these sales contracts, each unit of product represents a separate performance obligation; therefore, future volumes are unsatisfied, and disclosure of the transaction price allocated to remaining performance obligations is not required. The Company has no unsatisfied performance obligations at the end of each reporting period. The Company does not believe that significant judgments are required with respect to the determination of the transaction price, including any variable consideration identified. There is a low level of uncertainty due to the precision of measurement and use of index-based pricing with predictable differentials. Additionally, any variable consideration identified is not constrained.
Evaluation and Exploration Assets	(g) Evaluation and Exploration Assets Pre-license exploration costs are recognized in the consolidated statements of income (loss) and comprehensive income (loss) as incurred. The costs to acquire non-producing oil and gas properties or licenses to explore, drill exploratory wells and the costs to evaluate the commercial potential of underlying resources, including related borrowing costs, are initially capitalized as exploration and evaluation assets. Exploration and evaluation assets are subject to technical, commercial and management review to confirm the continued intent to develop and extract the underlying resources. If an area or exploration well is no longer considered commercially viable, the related capitalized costs are charged to exploration expense. Exploration and evaluation assets are not subject to depreciation, depletion, and amortization. When management determines with reasonable certainty that an exploration and evaluation asset will be developed, as evidenced by the classification of proved or probable reserves and the appropriate internal and external approvals, the asset is transferred to oil and gas properties. The Company records geological and geophysical expenses to the consolidated statements of income (loss) and comprehensive income (loss) as incurred.
Oil and Gas Properties	(h) Oil and Gas Properties Oil and gas properties (“O&G”) include development and productions costs, less accumulated depletion and depreciation and accumulated impairment loss. O&G are grouped into CGUs for impairment testing. The Company has grouped its O&G into two CGUs: the Cendere Oil Field and SASB Gas Field. When significant parts of an item of O&G have different useful lives, they are accounted for as separate items (major components). Costs incurred subsequent to the determination of technical feasibility and commercial viability and the costs of replacing parts of O&G are capitalized only when they increase the future economic benefits embodied in the specific asset to which they relate. All other expenditures are recognized in the consolidated statements of income (loss) and comprehensive income (loss) as incurred. Such capitalized items generally represent costs incurred in developing proved and/or probable reserves and bringing on or enhancing production from such reserves and are accumulated on a field or geotechnical area basis. The carrying amount of any replaced or sold component is derecognized. The costs of the day-to-day servicing of oil and gas properties are recognized in the consolidated statements of income (loss) and comprehensive income (loss) as incurred. TRILLION ENERGY INTERNATIONAL INC. Notes to the Consolidated Financial Statements For the years ended December 31, 2023 and 2022 (Expressed in U.S. dollars) 2. Material Accounting Policies (continued) (h) Oil and Gas Properties (continued) The net carrying value of O&G is depleted using the unit-of-production method by reference to the ratio of production in the year to the related proved reserves, considering estimated future development costs necessary to bring those reserves into production. The estimated future development costs is added to the carrying value of O&G to calculate depletion. These estimates are reviewed by independent reservoir engineers at least annually.
Impairment of Non-financial Assets	(i) Impairment of Non-financial Assets Exploration and evaluation assets, O&G, and property and equipment are reviewed when events or changes in circumstances indicate the assets may not be recoverable. Exploration and evaluation assets are also tested for impairment immediately prior to being transferred to O&G. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss, if any. Impairment exists when the carrying value of an asset exceeds its recoverable amount, which is the higher of its fair value less costs to sell and its value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pretax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset. If the recoverable amount of an asset is estimated to be less than its carrying amount, the carrying amount of the asset is reduced to its recoverable amount and the impairment loss is recognized in the consolidated statements of income (loss) and comprehensive income (loss) . For an asset that does not generate largely independent cash inflows, the recoverable amount is determined for the CGU to which the asset belongs. These calculations are based on available data, other observable inputs, and projections of cash flows, all of which are subject to estimates and assumptions. Recoverable amounts are also sensitive to assumptions about the future usefulness of in-process development and the related marketing rights.
Provisions	(j) Provisions Provisions are recognized by the Company when it has a legal or constructive obligation as a result of past events, it is probable that an outflow of economic resources will be required to settle the obligation and a reliable estimate can be made of the amount of the obligation. Provisions are recognized for the asset retirement obligation associated with the Company’s exploration and evaluation assets and O&G. Provisions for the asset retirement obligation are measured at the present value of management’s best estimate of the future cash flows required to settle the present obligation, using the risk-free interest rate. The value of the obligation is added to the carrying amount of the associated asset and amortized over the useful life of the asset. The provision is accreted over time with actual expenditures charged against the accumulated obligation. Changes in the future cash flow estimates resulting from revisions to the estimated timing or amount of undiscounted cash flows are recognized as a change in the asset retirement obligation and related assets. TRILLION ENERGY INTERNATIONAL INC. Notes to the Consolidated Financial Statements For the years ended December 31, 2023 and 2022 (Expressed in U.S. dollars) 2. Material Accounting Policies (continued)
Financial Instruments	(k) Financial Instruments Classification The Company classifies its financial instruments into one of the following categories: fair value through profit or loss (“FVTPL”), fair value through other comprehensive income (“FVOCI”), or at amortized cost. This determination is made at initial recognition. All financial instruments are initially recognized at fair value on the consolidated statements of financial position, net of any transaction costs except for financial instruments classified as FVTPL, where transaction costs are expensed as incurred. Subsequent measurement of financial instruments is based on their classification. The Company classifies its derivative liability and cash and cash equivalents as FVTPL, amounts receivable and notes and amounts receivable for equity issued as financial assets at amortized cost, and accounts payable and accrued liabilities, loans payable, and convertible debt as financial liabilities at amortized cost. Embedded derivatives in other financial instruments or other host contracts are recorded as separate derivatives when their risks and characteristics are not closely related to those of the host contract. Measurement Financial assets and liabilities at amortized cost Financial assets and liabilities at amortized cost are initially recognized at fair value plus or minus transaction costs, respectively, and subsequently carried at amortized cost sing the effective interest rate (“EIR”), less any impairment. Amortized cost is calculated by taking into account any discount or premium on acquisition and any fees or costs that are an integral part of the EIR. The EIR amortization is included in finance income in the consolidated statements of income (loss) and comprehensive income (loss). Financial assets and liabilities at FVTPL Financial assets and liabilities carried at FVTPL are initially recorded at fair value and transaction costs are expensed in the consolidated statements of income (loss) and comprehensive income (loss). Realized and unrealized gains and losses arising from subsequent changes in the fair value of the financial assets and liabilities held at FVTPL are included in the consolidated statements of income (loss) and comprehensive income (loss) in the period in which they arise. Debt investments at FVTOCI These assets are subsequently measured at fair value. Interest income calculated using the EIR method, foreign exchange gains and losses and impairment are recognized in the consolidated statements of income (loss) and comprehensive income (loss). Other net gains and losses are recognized in other comprehensive income (“OCI”). On derecognition, net gains and losses accumulated in OCI are reclassified to the consolidated statements of income (loss) and comprehensive income (loss). Equity investments at FVTOCI These assets are subsequently measured at fair value. Dividends are recognized as income in the consolidated statements of income (loss) and comprehensive income (loss) unless the dividend clearly represents a recovery of part of the cost of the investment. Other net gains and losses are recognized in OCI and are never reclassified to consolidated statements of income (loss) and comprehensive income (loss). TRILLION ENERGY INTERNATIONAL INC. Notes to the Consolidated Financial Statements For the years ended December 31, 2023 and 2022 (Expressed in U.S. dollars) 2. Material Accounting Policies (continued) Impairment of Financial Assets at Amortized Cost The Company recognizes an allowance for doubtful accounts on financial assets that are measured at amortized cost. At each reporting date, the Company measures the allowance for doubtful accounts for the financial asset at an amount equal to the lifetime expected credit losses if the credit risk on the financial asset has increased significantly since initial recognition. If at the reporting date the credit risk has not increased significantly since initial recognition, the Company measures the allowance for doubtful accounts for the financial asset at an amount equal to the twelve month expected credit losses. The Company shall recognize in the consolidated statements of income (loss) and comprehensive income (loss), as an impairment gain or loss, the amount of expected credit losses (or reversal) that is required to adjust the allowance for doubtful accounts at the reporting date to the amount that is required to be recognized. Fair value Fair value estimates are made at the consolidated statements of financial position date based on relevant market information and other information about financial instruments. Financial assets and financial liabilities measured at fair value in the consolidated statements of financial position are grouped into a fair value evaluation hierarchy. This hierarchy groups financial assets and financial liabilities into three levels according to the significance of the inputs used in the fair value evaluation of the financial assets and financial liabilities. The fair value levels of the hierarchy are as follows: Level 1 – Quoted prices (unadjusted) in active markets for identical assets and liabilities at the financial reporting date; Level 2 – Inputs, other than quoted prices included within Level 1, that are observable for the asset or liability, either directly or indirectly; and Level 3 – Inputs for the assets or liabilities that are not based on observable market data. The level within which the financial asset or financial liability is classified is determined based on the lowest level of significant input to the fair value measurement. The Company’s cash and cash equivalents is categorized as Level 1 and its derivative liability is categorized as Level 3. Derecognition Financial assets The Company derecognizes financial assets only when the contractual rights to cash flow from the financial assets expire, or when it transfers the financial assets and substantially all the associated risks and rewards of ownership to another entity. Financial liabilities The Company derecognizes financial liability when its contractual obligations are discharged or cancelled or expire. The Company also derecognizes a financial liability when the terms of the liability are modified such that the terms and / or cash flows of the modified instrument are substantially different, in which case a new financial liability based on the modified terms is initially recognized at fair value. Gains and losses on derecognition are recognized in consolidated statements of income (loss) and comprehensive income (loss). TRILLION ENERGY INTERNATIONAL INC. Notes to the Consolidated Financial Statements For the years ended December 31, 2023 and 2022 (Expressed in U.S. dollars) 2. Material Accounting Policies (continued)
Income Taxes	(l) Income Taxes Current Tax Current tax assets and liabilities for the current period are measured at the amount expected to be recovered from or paid to taxation authorities. The tax rates and tax laws used to compute the amount are those that are enacted or substantively enacted, at the reporting date, in the countries where the Company operates and generates taxable income. Management periodically evaluates positions taken in the tax returns with respect to situations in which applicable tax regulations are subject to interpretation and establishes provisions where appropriate. Deferred Tax Deferred tax is recognized on temporary differences at the reporting date arising between the tax bases of assets and liabilities and their carrying amounts for financial reporting purposes. Deferred tax relating to items recognized directly in OCI or equity is recognized in OCI or equity and not in profit or loss The carrying amount of deferred tax assets is reviewed at the end of each reporting period and recognized only to the extent that it is probable that future taxable income will be available to allow all or part of the temporary differences to be utilized. Deferred tax assets and liabilities are measured at the tax rates that are expected to apply to the year when the asset is realized or the liability is settled, based on tax rates (and tax laws) that have been enacted or substantively enacted and are expected to apply by the end of the reporting period. Deferred tax assets and deferred income tax liabilities are offset if a legally enforceable right exists to set off current tax assets against current income tax liabilities and the deferred taxes relate to the same taxable entity and the same taxation authority.
Stock-Based Compensation	(l) Stock-Based Compensation Under the Company’s equity-based compensation plans, stock-based awards may be granted to executives, employees, and non-employee directors. The Company grants restricted share units (“RSUs”) and stock options to directors, officers, employees, and consultants. An individual is classified as an employee when the individual is an employee for legal or tax purposes or provides services like those performed by an employee. The costs of equity-settled transactions with employees are measured by reference to the fair value at the date on which they are granted, using the Black Scholes valuation model. The costs of equity-settled transactions are recognized, together with a corresponding increase in equity, over the period in which the performance and/or service conditions are fulfilled, ending on the date on which the relevant employees become fully entitled to the award (the “vesting date”). For cash settled stock-based compensation, the expense is determined based on the fair value of the liability at the end of the reporting period until the award is settled. In situations where equity instruments are issued to non-employees and some or all of the goods or services received by the Company as consideration cannot be specifically identified, they are measured at fair value of the stock-based payment. TRILLION ENERGY INTERNATIONAL INC. Notes to the Consolidated Financial Statements For the years ended December 31, 2023 and 2022 (Expressed in U.S. dollars) 2. Material Accounting Policies (continued) (l) Stock-Based Compensation (continued) The cumulative expense is recognized for equity-settled transactions at each reporting date until the vesting date reflects the Company’s best estimate of the number of equity instruments that will ultimately vest. The profit or loss charge or credit for a period represents the movement in cumulative expense recognized as at the beginning and end of that period, and the corresponding amount is represented in the warrant and option reserve. At the end of each reporting period, the Company re-assesses its estimates of the number of awards that are expected to vest and recognizes the impact of the revisions in the consolidated statements of income (loss) and comprehensive income (loss). No expense is recognized for awards that do not ultimately vest, except for awards where vesting is conditional upon a market condition, which are treated as vesting irrespective of whether or not the market condition is satisfied provided that all other performance and/or service conditions are satisfied. Where the terms of an equity settled award are modified, the minimum expense recognized is the grant date fair value of the unmodified award, provided the original terms of the award are met. An additional expense or its reduction is recognized for any modification which increases or decreases the total fair value of the stock-based payment arrangement or is otherwise beneficial to the employee as measured at the date of modification. Where an award is cancelled by the Company or the counterparty, any remaining element of the fair value of the award is expensed immediately or reversed through profit or loss, depending on the type of cancellation. The dilutive effect of outstanding options is reflected as additional dilution in the computation of earnings per share whereas anti-dilutive options are ignored. Consideration paid to the Company on exercise of stock-based awards is credited to share capital and the associated amount in warrant and option reserve is reclassified to share capital.
Unit Offerings	(m) Unit Offerings Common shares are classified as equity. Proceeds from unit placements are allocated between shares and warrants issued using the residual method. The residual method first allocates fair value to the component with the best evidence of fair value and then the residual value, if any, to the less easily measurable component. If the attached warrants do not meet the definition of a derivative liability, the fair value of the common shares, measured on date of issue, are determined to be the component with the best evidence of fair value. The balance, if any, is allocated to the attached warrants. If the attached warrants meet the definition of a derivative liability, the proceeds are first allocated to the fair value of the warrants and then the residual value, if any, is allocated to the common shares. Costs directly identifiable with share capital financings are charged against share capital. If the subscription is not funded upon issuance, the Company records a receivable as a contra account to shareholders’ equity.
Loss per Share	(n) Loss per Share Basic earnings per share are calculated by dividing the net earnings for the period by the weighted average number of common shares outstanding during the period. Diluted earnings per share is calculated by adjusting the weighted average number of common shares outstanding for dilutive common shares. The number of shares included is computed using the treasury stock method. As certain instruments can be exchanged for common shares of the Company, they are considered potentially dilutive and are included in the calculation of the Company’s diluted net earnings per share if they have a dilutive impact in the period. The impact of potentially dilutive securities is not considered in periods in which there is a loss because the inclusion of the potential common shares would have an anti-dilutive effect. TRILLION ENERGY INTERNATIONAL INC. Notes to the Consolidated Financial Statements For the years ended December 31, 2023 and 2022 (Expressed in U.S. dollars) 2. Material Accounting Policies (continued)
Leases	(o) Leases At inception of a contract, the Company assesses whether a contract is, or contains, a lease based on whether the contract conveys the right to control the use of an identified asset for a period of time in exchange for consideration. The Company recognizes a right-of-use asset and a lease liability at the lease commencement date. The right-of-use asset is initially measured based on the initial amount of the lease liability adjusted for any lease payments made at or before the commencement date, plus any initial direct costs incurred and an estimate of costs to dismantle and remove the underlying asset or to restore the underlying asset on the site on which it is located, less any lease incentives received. The assets are depreciated to the earlier of the end of the useful life of the right-of-use asset or the lease term. Judgment is applied to determine the lease term where a renewal option exists. Right-of-use assets are depreciated using the straight-line method as this most closely reflects the expected pattern of consumption of the future economic benefits. In addition, the right-of-use assets may be reduced by impairment losses or adjusted for certain remeasurements of the lease liability. The Company has elected not to recognize right-of-use assets and lease liabilities for short-term leases that have a lease term of twelve months or less. The lease payments are recognized as an expense when incurred over the lease term. The lease liability is initially measured at the present value of the lease payments that are not paid at the commencement date, discounted using the interest rate implicit in the lease or, if that rate cannot be readily determined, the Company’s incremental borrowing rate. Lease payments include fixed payments, and variable payments that are based on an index or rate. Cash payments for the principal portion of the lease liability are presented within the financing activities section and the interest portion of the lease liability is presented within the operating activities section of the consolidated statements of cash flows. Short-term lease payments and variable lease payments not included in the measurement of the lease liability are presented within the operating activities section of the consolidated statements of cash flows.
Foreign Currency Translation	(p) Foreign Currency Translation Functional currencies of the Company’s individual entities are the currency of the primary economic environment in which the entity operates. Transactions in foreign currencies are translated to the appropriate functional currency at foreign exchange rates that approximate those on the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated to the appropriate functional currency at foreign exchange rates as at the date of the statement of financial position. Foreign exchange differences arising on translation are recognized in net earnings. Non-monetary assets that are measured in a foreign currency at historical cost are translated using the exchange rate at the date of the transaction. In preparing the Company’s consolidated financial statements, the financial statements of each entity are translated into USD, the presentation currency of the Company. The assets and liabilities of foreign operations are translated into USD at exchange rates as at the date of the statement of financial position. Revenues and expenses of foreign operations, whose functional currency is not the currency of a hyperinflationary economy, are translated into USD using average foreign exchange rates for the period. The financial statements (i.e. assets, liabilities, revenues and expenses) of foreign operations whose functional currency is the currency of a hyperinflationary economy, is first adjusted in accordance with the Company’s hyperinflation accounting policy, and then translated to USD at exchange rates as at the date of the statement of financial position. Foreign exchange differences resulting from translation from functional currency to presentation currency are recognized in other comprehensive income or loss. TRILLION ENERGY INTERNATIONAL INC. Notes to the Consolidated Financial Statements For the years ended December 31, 2023 and 2022 (Expressed in U.S. dollars) 2. Material Accounting Policies (continued)
Convertible Debt	(q) Convertible Debt The components of the compound financial instrument (convertible debt) issued by the Company are classified separately as financial liabilities and equity in accordance with the substance of the contractual arrangement and the definitions of a financial liability and an equity instrument. The conversion option that will be settled by the exchange of a fixed amount in cash for a fixed number of equity instruments of the Company is classified as an equity instrument. At the issue date, the liability component is recognized at fair value, which is estimated using the interest rate on the market for similar nonconvertible instruments. Subsequently, the liability component is measured at amortized cost using the EIR until it is extinguished on conversion or maturity. The value of the conversion option classified as equity is determined at the issue date, by deducting the amount of the liability component from the fair value of the compound instrument as a whole. This amount is recognized in equity, net of tax effects, and is not revised subsequently. When the conversion option is exercised, the equity component of the convertible notes will be transferred to share capital. No profit or gain is recognized to the conversion or expiration of the conversion option.
Assets Held For Sale	(r) Assets Held For Sale Non-current assets are classified as held for sale if their carrying amounts will be recovered through a sale transaction rather than through continuing use. This condition is met when the sale is highly probable, the asset is available for immediate sale in its present condition and the sale is expected to be completed within one year from the date of classification. Non-current assets held for sale are presented separately in current assets within the consolidated statements of financial position. Assets held for sale are measured at the lower of carrying amount and fair value less cost to sell, and are not depreciated, depleted or amortized. An impairment loss is recognized for any initial or subsequent write-down of the assets held for sale to fair value less costs to sell. The comparative period consolidated statement of financial position is not restated.
New IFRS pronouncements	(s) New IFRS pronouncements Certain pronouncements were issued by the IASB or the IFRIC that are mandatory for accounting periods commencing on or after January 1, 2024.Many are not applicable or do not have a significant impact to the Company and have been excluded.The following have not yet been adopted and are being evaluated to determine their impact on the Company. IAS 1 –Presentation of Financial Statements (“IAS 1”) was amended in January 2020 to provide a more general approach to the classification of liabilities under IAS 1 based on the contractual arrangements in place at the reporting date. The amendments clarify that the classification of liabilities as current or noncurrent is based solely on a company’s right to defer settlement at the reporting date. The right needs to be unconditional and must have substance. The amendments also clarify that the transfer of a company’s own equity instruments is regarded as settlement of a liability, unless it results from the exercise of a conversion option meeting the definition of an equity instrument. The amendments are effective for annual periods beginning on January 1, 2024.

Material Accounting Policies (T

Material Accounting Policies (Tables)	12 Months Ended
	Dec. 31, 2023
Notes and other explanatory information [abstract]
Schedule of Exploration and Development activities	Schedule of Exploration and Development activities Name of the joint arrangement Nature of the relationship with the joint arrangement Principal place of operation of joint arrangement Proportion of participating share South Akcakoca Sub-Basin (“SASB”) Operator Turkey 49 Cendere Participant Turkey 19.6

Amounts Receivable (Tables)

Amounts Receivable (Tables)	12 Months Ended
	Dec. 31, 2023
Amounts Receivable
Schedule of Amounts Receivable	Schedule of Amounts Receivable December 31, 2023 December 31, 2022 Accounts receivable $ 1,403,781 $ 4,207,739 GST receivable 46,642 71,284 Interest receivable 44,339 52,538 Due from related parties 35,295 3,913 Other 63,288 2,351 Amounts receivable $ 1,593,345 $ 4,337,825

Prepaid expenses and deposits (

Prepaid expenses and deposits (Tables)	12 Months Ended
	Dec. 31, 2023
Notes and other explanatory information [abstract]
Schedule of Prepaid Expenses and Deposits	Schedule of Prepaid Expenses and Deposits December 31, 2023 December 31, 2022 Exploration and production advances $ 174,031 $ 871,527 Prepaid expenses 426,487 83,852 Prepaid taxes 2,917 7,433 Close-Out Fund (Note 13) 371,124 - Prepaid expenses and deposits $ 974,559 $ 962,812 Prepaid expenses and deposits – Current $ 603,435 $ - Long-term deposits $ 371,124 $ -

Oil and Gas Properties (Tables)

Oil and Gas Properties (Tables)	12 Months Ended
	Dec. 31, 2023
Oil And Gas Properties
Schedule of Oil and Gas Properties	Schedule of Oil and Gas Properties SASB Cendere Total Cost As at December 31, 2021 $ 1,398,676 $ 2,453,485 $ 3,852,161 Additions 44,369,191 - 44,369,191 JV Contribution (6,656,785 ) - (6,656,785 ) Change in ARO estimate (3,865,772 ) (5,562 ) (3,871,334 ) Currency translation adjustment (4,748,897 ) - (4,748,897 ) Impact of hyperinflation 837,908 110,090 947,998 As at December 31, 2022 31,334,321 2,558,013 33,892,334 Cost, Beginning Balance 31,334,321 2,558,013 33,892,334 Additions 56,381,768 - 56,381,768 JV Contribution (29,623,835 ) - (29,623,835 ) Change in ARO estimate and additions 706,159 102 706,261 Currency translation adjustment (17,696,392 ) (948,518 ) (18,644,910 ) Impact of hyperinflation 21,039,584 1,042,395 22,081,979 Reclassified as assets held for sale (Note 5) (3,036,216 ) - (3,036,216 ) As at December 31, 2023 $ 59,105,389 $ 2,651,992 $ 61,757,381 Cost, Ending Balance $ 59,105,389 $ 2,651,992 $ 61,757,381 Accumulated depletion As at December 31, 2021 $ 743,647 $ 1,687,901 $ 2,431,548 Depletion 1,263,556 187,476 1,451,032 Impact of hyperinflation (34,215 ) (5,825 ) (40,040 ) As at December 31, 2022 1,972,988 1,869,552 3,842,540 Accumulated depletion, Beginning Balance 1,972,988 1,869,552 3,842,540 Depletion 5,038,009 81,165 5,119,174 Currency translation adjustment (731,475 ) (693,127 ) (1,424,602 ) Impact of hyperinflation 804,164 762,005 1,566,169 As at December 31, 2023 $ 7,083,686 $ 2,019,595 $ 9,103,281 Accumulated depletion, Ending Balance $ 7,083,686 $ 2,019,595 $ 9,103,281 Net book value As at December 31, 2022 $ 29,361,333 $ 688,461 $ 30,049,794 Net book value, Beginning Balance $ 29,361,333 $ 688,461 $ 30,049,794 As at December 31, 2023 $ 52,021,703 $ 632,397 $ 52,654,100 Net book value, Ending Balance $ 52,021,703 $ 632,397 $ 52,654,100

Exploration & Evaluation Asse_2

Exploration & Evaluation Assets (Tables)	12 Months Ended
	Dec. 31, 2023
Notes and other explanatory information [abstract]
Schedule of Exploration & Evaluation Asset	Schedule of Exploration & Evaluation Asset Unproved Unproven Turkey Bulgaria Total As at December 31, 2021 $ - $ 3,116,146 $ 3,116,146 Impairment - (3,101,343 ) (3,101,343 ) Currency translation adjustment - (14,803 ) (14,803 ) As at December 31, 2022 and 2023 $ - $ - $ -

Property and Equipment (Tables)

Property and Equipment (Tables)	12 Months Ended
	Dec. 31, 2023
Notes and other explanatory information [abstract]
Schedule of Property, Plant and Equipment	Schedule of Property, Plant and Equipment Right-of-use Leasehold improvements Other Equipment Motor Vehicles Furniture Total Cost As at December 31, 2021 $ 53,143 $ 138,450 $ 2,102 $ 140,365 $ 9,685 $ 343,745 Additions - 42,699 289,640 332,528 32,061 696,928 Depreciation - - - - - - Disposals - - - (64,588 ) - (64,588 ) Currency translation adjustment (5,293 ) (2,890 ) (31,002 ) (37,147 ) (2,147 ) (78,479 ) Impact of hyperinflation 2,599 8,103 72,597 87,626 5,318 176,243 As at December 31, 2022 50,449 186,362 333,337 458,784 44,917 1,073,849 Additions 236,202 14,498 11,076 15,644 18,958 296,378 Disposals (47,685 ) - - (97,028 ) - (144,713 ) Currency translation adjustment (105,792 ) (60,555 ) (126,062 ) (151,880 ) (14,291 ) (458,580 ) Impact of hyperinflation 69,616 68,608 140,538 136,661 17,538 432,961 As at December 31, 2023 $ 202,790 $ 208,913 $ 358,889 $ 362,181 $ 67,122 $ 1,199,895 Accumulated depreciation As at December 31, 2021 $ 35,758 $ 115,109 $ 1,922 $ 41,377 $ 2,445 $ 196,611 Depreciation 4,549 12,324 47,423 74,622 6,117 145,035 Impact of hyperinflation (140 ) (438 ) (3,923 ) (4,735 ) (288 ) (9,524 ) As at December 31, 2022 40,167 126,995 45,422 111,264 8,274 332,122 Beginning Balance 40,167 126,995 45,422 111,264 8,274 332,122 Depreciation 37,457 13,135 52,084 62,920 10,168 175,764 Disposals (10,332 ) - - (30,267 ) - (40,599 ) Currency translation adjustment (14,892 ) (45,848 ) (16,840 ) (41,251 ) (2,513 ) (121,344 ) Impact of hyperinflation 16,372 50,404 18,513 45,350 2,763 133,402 As at December 31, 2023 $ 68,772 $ 144,686 $ 99,179 $ 148,016 $ 18,692 $ 479,345 Ending Balance $ 68,772 $ 144,686 $ 99,179 $ 148,016 $ 18,692 $ 479,345 Net Book Value As at December 31, 2022 $ 10,282 $ 59,367 $ 287,915 $ 347,520 $ 36,643 $ 741,727 As at December 31, 2023 $ 134,018 $ 64,227 $ 259,710 $ 214,165 $ 48,430 $ 720,550 Net Book Value $ 134,018 $ 64,227 $ 259,710 $ 214,165 $ 48,430 $ 720,550

Accounts Payable and Accrued _2

Accounts Payable and Accrued Liabilities (Tables)	12 Months Ended
	Dec. 31, 2023
Notes and other explanatory information [abstract]
Schedule of Accounts Payable and Accrued Liabilities	Schedule of Accounts Payable and Accrued Liabilities December 31, 2023 December 31, 2022 Accounts payable $ 13,567,262 $ 8,376,620 Accrued liabilities 77,078 886,324 Payroll, withholding and sales tax liabilities 420,679 420,072 Cash calls received from JV partner - 917,064 Total $ 14,065,019 $ 10,600,080

Loans Payable (Tables)

Loans Payable (Tables)	12 Months Ended
	Dec. 31, 2023
Notes and other explanatory information [abstract]
Schedule of Loans Payable	Schedule of Loans Payable As at December 31, 2023 December 31, 2022 Unsecured, interest-bearing loans at 10 1 $ - $ 12,107 Unsecured, interest-bearing loan at 45.33 2 - 56,537 Unsecured, interest-bearing loan at TLREF + 3.5944 3 - 97,911 Unsecured, interest-bearing loan at 37.7 4 19,461 - Unsecured, interest-bearing loan at 6 7,8 614,899 - Unsecured, interest-bearing loan at 1 6 2,822,250 - Unsecured, non- interest-bearing loan 9 7,840 - Total loans payable 3,464,450 166,555 Current portion of loans payable (3,464,450 ) (145,866 ) Long-term portion of loans payable $ - $ 20,689 (1) Loans bearing interest accrue at 10 January and April 1, 2021 Nil 135,868 Nil 3,515 12,107 (2) On May 25, 2022, Garanti Bank extended a long-term loan to Park Place Turkey Limited in the amount of ₺ 1,500,000 91,961 May 23, 2024 45.33 45,832 26,968 14,717 20,636 (3) On November 23, 2022, Garanti Bank extended a short-term loan to Park Place Turkey Limited in the amount of ₺ 2,000,000 107,356 November 23, 2023 3.5944 79,372 10,183 4,264 1,607 (4) On March 13, 2023, Garanti Bank extended a long-term loan to Park Place Turkey Limited in the amount of ₺ 2,000,000 105,386 March 12, 2024 37.67 61,627 nil 18,676 nil TRILLION ENERGY INTERNATIONAL INC. Notes to the Consolidated Financial Statements For the years ended December 31, 2023 and 2022 (Expressed in U.S. dollars) 10. Loans Payable (continued) (5) On February 1, 2023, the Company entered into an agreement with TR1 Master Fund to borrow $ 2,200,000 200,000 1 April 1, 2024 100,000 50,000 200,000 (6) On July 1, 2023, the Company entered into agreements with TR1 Master Fund to borrow $ 1,065,000 1,597,500 65,000 97,500 1 December 31, 2023 December 31, 2024 40,000 60,000 23,900 35,850 63,916 96,138 (7) On July 20, 2023, the Company entered into a promissory note with 1324025 BC Ltd for CAD$ 300,000 228,023 6 50,000 37,717 7,917 5,867 (8) On September 1, 2023, the Company entered into a promissory note with 2476393 Alberta Ltd for CAD$ 546,000 402,115 6 10,734 7,954 (9) On November 23, 2023, the Company entered into a short-term non-interest-bearing promissory note with 1647020 Alberta Ltd. for CAD$ 12,000 8,766 1,614 1,179 (10) On November 23, 2023, the Company entered into a short-term non-interest-bearing promissory note with a consultant of the Company for CAD$ 200,000 146,121 200,000 146,121

Leases (Tables)

Leases (Tables)	12 Months Ended
	Dec. 31, 2023
Notes and other explanatory information [abstract]
Schedule of Changes in Lease Liability	Schedule of Changes in Lease Liability Lease liability December 31, 2023 December 31, 2022 Lease liability December 31, 2023 December 31, 2022 Beginning balance $ 8,609 $ 15,324 Additions, cost 236,201 - Interest expense 53,831 1,378 Lease payments (85,271 ) (5,499 ) Currency translation adjustment (2,458 ) (2,594 ) Termination of lease (69,217 ) - Ending balance $ 141,695 $ 8,609
Schedule of Lease Liability	As at December 31, 2023, the Company’s lease liability is as follows: Schedule of Lease Liability Lease liability December 31, 2023 December 31, 2022 Lease liability December 31, 2023 December 31, 2022 Current portion of lease liability $ 19,637 $ 4,057 Long-term portion of lease liability 122,058 4,552 Lease liability $ 141,695 $ 8,609
Schedule of Future Minimum Lease Payments	Future minimum lease payments to be paid by the Company as a lessee as of December 31, 2023 are as follows: Schedule of Future Minimum Lease Payments Operating lease commitments and lease liability 2024 $ 58,919 2025 57,488 2026 59,163 2027 60,921 Total future minimum lease payments 236,491 Discount (94,796 ) Total $ 141,695

Convertible debentures (Tables)

Convertible debentures (Tables)	12 Months Ended
	Dec. 31, 2023
Convertible Debentures
Schedule of Fair Value Assumptions of Conversion Features	The relative fair value of the warrants and conversion features were determined using the Black-Scholes Option Pricing Model using the assumptions set out as follows: Schedule of Fair Value Assumptions of Conversion Features April 20, 2023 Risk-free interest rate 3.86 % Expected volatility 101.71 119.94 % Dividend yield 0 % Expected life 2.03 2.19
Schedule of Convertible Debt	A continuity schedule of the Company’s convertible debt is as follows: Schedule of Convertible Debt Balance as at January 1, 2023 $ - Issued 11,135,145 Transaction costs (992,525 ) Transaction costs allocated to equity 77,086 Relative fair value of conversion feature (369,181 ) Relative fair value of Warrants (495,653 ) Repayment (709,022 ) Accretion 578,675 Interest 931,962 Currency translation adjustment 173,232 Balance as at December 31, 2023 $ 10,329,719 Current $ 227,092 Long-term $ 10,102,627

Asset Retirement Obligation (Ta

Asset Retirement Obligation (Tables)	12 Months Ended
	Dec. 31, 2023
Asset Retirement Obligation
Schedule of Asset Retirement Obligations	The following is a continuity of the Company’s asset retirement obligations: Schedule of Asset Retirement Obligations December 31, 2023 December 31, 2022 December 31, 2023 December 31, 2022 Beginning balance $ 5,316,470 $ 8,993,108 Additions 797,102 - Accretion expense 219,536 264,075 Impact of hyperinflation (599,096 ) (69,379 ) Currency translation adjustment 603,856 - Change in estimate (90,841 ) (3,871,334 ) Ending balance $ 6,247,027 $ 5,316,470

Notes and Amounts Receivable _2

Notes and Amounts Receivable for Equity Issued (Tables)	12 Months Ended
	Dec. 31, 2023
Notes And Amounts Receivable For Equity Issued
Schedule of Notes and Amounts Receivable for the Equity Issued	Schedule of Notes and Amounts Receivable for the Equity Issued December 31, 2023 December 31, 2022 December 31, 2023 December 31, 2022 Notes receivable $ 97,907 $ 1,000,122 Amounts receivable 15,402 61,940 Notes and Amounts Receivable for Equity Issued $ 113,309 $ 1,062,062
Schedule of Note and Other Receivable	The following is a continuity of the Company’s notes and other receivables: Schedule of Note and Other Receivable Notes receivable Amounts receivable Total Balance, December 31, 2021 $ 1,158,832 $ 34,809 $ 1,193,641 Additions - 51,659 51,659 Repayments (136,611 ) (24,528 ) (161,139 ) Write-off (22,099 ) - (22,099 ) Balance, December 31, 2022 1,000,122 61,940 1,062,062 Balance 1,000,122 61,940 1,062,062 Repayments (297,678 ) (36,228 ) (333,906 ) Settled through RSU repurchase (Note 18) (604,537 ) - (604,537 ) Write-off - (10,310 ) (10,310 ) Balance, December 31, 2023 $ 97,907 $ 15,402 $ 113,309 Balance $ 97,907 $ 15,402 $ 113,309

Stock Options (Tables)

Stock Options (Tables)	12 Months Ended
	Dec. 31, 2023
Notes and other explanatory information [abstract]
Summary of Changes in Stock Options	A continuity of the Company’s outstanding stock options for the year ended December 31, 2023 and the year ended December 31, 2022 is presented below: Summary of Changes in Stock Options Number of options Weighted average Outstanding, December 31, 2021 1,528,000 $ 0.79 Granted 1,442,000 1.86 Exercised (669,000 ) 1.33 Expired (1,000 ) 0.50 Outstanding, December 31, 2022 2,300,000 $ 1.27 Exercised (440,000 ) 1.65 Expired (240,000 ) 0.79 Outstanding, December 31, 2023 1,620,000 $ 1.24 Exercisable, December 31, 2023 1,620,000 $ 1.24
Schedule of Stock Options Outstanding and Exercisable	At December 31, 2023 the Company had the following outstanding stock options: Schedule of Stock Options Outstanding and Exercisable Outstanding Exercise Price Expiry Date Vested 660,000 0.75 September 19, 2024 660,000 128,000 0.40 July 31, 2025 128,000 512,000 1.50 July 26, 2025 512,000 50,000 1.90 June 6, 2026 50,000 150,000 2.20 October 27, 2025 150,000 70,000 2.20 December 9, 2024 70,000 50,000 2.20 December 9, 2025 50,000 1,620,000 1,620,000

Warrants (Tables)

Warrants (Tables)	12 Months Ended
	Dec. 31, 2023
Warrants
Summary of Changes in Warrants	A continuity of the Company’s outstanding share purchase warrants for the year ended December 31, 2023 and the year ended December 31, 2022 is presented below: Summary of Changes in Warrants Number of Weighted average exercise price (CAD) Outstanding, December 31, 2021 1,568,866 $ 0.63 Issued 21,011,038 2.31 Exercised (2,185,366 ) 0.87 Expired (7,000 ) 0.50 Outstanding, December 31, 2022 20,387,538 $ 2.33 Issued 7,402,726 1.88 Expired (10,000 ) 2.17 Outstanding, December 31, 2023 27,780,264 $ 2.21
Schedule of Purchase Warrants Outstanding	At December 31, 2023, the Company had the following outstanding share purchase warrants: Schedule of Purchase Warrants Outstanding Outstanding Exercise Price Expiry Date 4,341,088 2.25 March 15, 2024 676,788 2.25 March 16, 2024 590,909 2.25 March 17, 2024 2,122,825 2.25 March 18, 2024 4,286,351 2.25 March 24, 2024 530,600 2.25 March 28, 2024 12,529,690 2.50 June 29, 2025 300,288 1.55 June 29, 2025 300,000 2.50 April 20, 2025 2,101,726 0.30 November 28, 2025 27,780,265
Schedule of Warrant Derivative Liability	The following is a continuity of the Company’s derivative warrant liability: Schedule of Warrant Derivative Liability Total Balance, December 31, 2021 $ 472,899 Effect of change in functional currency (309,006 ) Exercise of warrants (822,950 ) Change in fair value of derivative 686,504 Foreign currency translation (22,620 ) Balance, December 31, 2022 $ 4,827 Change in fair value of derivative (4,827 ) Balance, December 31, 2023 $ -
Schedule of Weighted Average Assumption for Warrants	Schedule of Weighted Average Assumption for Warrants 2023 2022 Risk-free interest rate 3.77 4.43 % 1.21 3.13 % Expected life (years) 2 2 3 Expected volatility 101 104 154 182 Dividend yield 0 % 0 %

Restricted Stock Units (Tables)

Restricted Stock Units (Tables)	12 Months Ended
	Dec. 31, 2023
Restricted Stock Units
Schedule of Restricted Stock Units	Schedule of Restricted Stock Units Number of unvested Weighted average Balance, December 31, 2021 – $ – Granted 885,012 1.10 Vested (885,012 ) 1.10 Balance, December 31, 2022 – – Granted 3,476,659 0.81 Canceled (30,000 ) 2.00 Vested (3,446,659 ) 0.80 Balance, December 31, 2023 - -

General and Administrative (Tab

General and Administrative (Tables)	12 Months Ended
	Dec. 31, 2023
Notes and other explanatory information [abstract]
Schedule of General and Administrative Expense	Schedule of General and Administrative Expense December 31, 2023 December 31, 2022 For the years ended December 31, 2023 December 31, 2022 Salaries and compensation $ 5,633,959 $ 4,386,716 Professional fees 820,047 552,975 Investor relations 236,441 592,155 Office 230,472 119,999 Advertising 123,293 519,321 Filing and transfer fees 111,987 96,701 Travel 114,335 87,285 Penalties 19,763 30,208 Bank charges and other 4,675 12,140 General and Administrative $ 7,294,972 $ 6,397,500

Segmented Information (Tables)

Segmented Information (Tables)	12 Months Ended
	Dec. 31, 2023
Notes and other explanatory information [abstract]
Schedule of Geographical Segment 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. Schedule of Geographical Segment Information 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 Year ended December 31 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 As at December 31 Non-current assets $ 42,781 $ 30,748,740 $ - $ 30,791,521
Schedule of Net Revenue By Product Segment	The Company’s breakdown of net revenue by product segment is as follows: Schedule of Net Revenue By Product Segment December 31, 2023 December 31, 2022 For the year ended December 31, 2023 December 31, 2022 Oil $ 3,055,800 $ 4,087,664 Gas 13,741,566 5,287,365 Oil and gas revenue, net $ 16,797,366 $ 9,375,029

Financial Instruments and Ris_2

Financial Instruments and Risk Management (Tables)	12 Months Ended
	Dec. 31, 2023
Financial Instruments And Risk Management
Summary of Maturity Profile of the Contractual Cash Flow	The table below summarizes the maturity profile of the Company’s contractual cashflows. Summary of Maturity Profile of the Contractual Cash Flow As at December 31, 2023 Less than 1 year 1 – 2 years Later than 2 years Total Accounts payable and accrued liabilities $ 14,065,019 $ - $ - $ 14,065,019 Loans payable 3,464,450 - - 3,464,450 Lease liability 58,919 116,651 60,921 236,491 RSU obligation 18,398 - - 18,398 Convertible debt 1,361,525 11,988,362 - 13,349,887 Derivative liability Total liabilities $ 18,968,311 $ 12,105,013 $ 60,921 $ 31,134,245 As at December 31, 2022 Less than 1 year 1 - 2 years Later than 2 years Total Accounts payable and accrued liabilities $ 10,600,080 $ - $ - $ 10,600,080 Loans payable 145,866 20,689 - 166,555 Lease liability 4,807 4,807 - 9,614 RSU obligation 295,747 - - 295,747 Derivative liability - 4,827 - 4,827 Total liabilities $ 11,046,500 $ 30,323 $ - $ 11,076,823

Income Tax (Tables)

Income Tax (Tables)	12 Months Ended
	Dec. 31, 2023
Notes and other explanatory information [abstract]
Schedule of Reconciliation of Current Income Taxes	A reconciliation of current income taxes at statutory rates with the reported taxes is as follows: Schedule of Reconciliation of Current Income Taxes 2023 2022 Net income (loss) before income taxes $ 758,132 $ (6,121,754 ) Effective tax rate 27 % 27 % Expected income tax recovery $ 204,696 $ (1,652,874 ) Change in statutory, foreign tax, foreign exchange rates, and other (204,794 ) 238,194 Permanent differences 1,335,140 649,306 Adjustment to prior years provision versus statutory tax returns and expiry of non-capital losses 249,576 - Change in unrecognized deductible temporary differences 275,708 765,374 Total $ 1,860,326 $ -
Schedule of Deferred Tax Assets and Liabilities	The tax effected items that give rise to significant portions of the deferred tax assets and deferred tax liabilities as at year-end are presented below: Schedule of Deferred Tax Assets and Liabilities 2023 2022 Deferred tax liabilities Exploration and evaluation assets $ (9,990,074 ) $ (1,426,133 ) Property and equipment (60,011 ) - Convertible debt (327,305 ) - Deferred tax assets Assets held for sale $ 311,357 $ - Asset retirement obligation 1,249,406 Non-capital losses 6,685,079 1,426,133 Net deferred tax assets (liabilities) $ (2,131,548 ) $ -
Schedule of Deductible Temporary Differences and Unused Tax Losses	The Company recognizes tax benefits on losses or other deductible amounts where the probable criteria for the recognition of deferred tax assets has been met. The Company’s unrecognized deductible temporary differences and unused tax losses for which no deferred tax asset is recognized consist of the following amounts: Schedule of Deductible Temporary Differences and Unused Tax Losses 2023 Expiry 2022 Expiry Share issue costs 2,782,651 2027 2,119,858 2027 Property and equipment 16,101 N/A 153,117 N/A Asset retirement obligation - N/A 5,718,041 N/A Non-capital losses 24,377,533 See below 28,385,944 See below Canada 10,360,380 2042 to 2043 3,995,237 2042 USA 4,228,651 indefinite 16,533,694 indefinite USA 9,785,059 2028 to 2037 Turkey - N/A 723,950 2024 to 2027 Bulgaria 3,443 2028 2,401 2027

Organization (Details Narrative

Organization (Details Narrative) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Organization
Working Capital	$ 12,929,942	$ 4,819,052
Retained earnings	45,939,198	44,837,004
Operating activities	$ (1,526,577)	$ 7,031,965	$ (1,869,543)

Schedule of Exploration and Dev

Schedule of Exploration and Development activities (Details)	12 Months Ended
	Dec. 31, 2023
South Akcakoca Sub-Basin [member]
IfrsStatementLineItems [Line Items]
Proportion of participating share	49%
Cendere [Member]
IfrsStatementLineItems [Line Items]
Proportion of participating share	19.60%

Material Accounting Policies (D

Material Accounting Policies (Details Narrative)		12 Months Ended
	Apr. 01, 2022 USD ($)	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)	Jan. 31, 2022 USD ($)	Jan. 31, 2022 CAD ($)
IfrsStatementLineItems [Line Items]
Warrants carrying value					$ 163,162	$ 472,899
Impact of hyperinflation accumulated depreciation	$ 473,907
Consumer price index		$ 1,859	$ 1,128
Increase index movements		$ 731	$ 442
Increase index movements percentage		65%	64%
Monetary position		$ 18,984,099	$ 1,826,495
Property and equipment, depreciation useful lives description		The estimate useful lives are as follows: Motor vehicles – 3 years; furniture – 3 to 5 years; leasehold improvements – over the term of the lease and other equipment - 3 years.
Motor vehicles [member]
IfrsStatementLineItems [Line Items]
Property and equipment, depreciation useful lives		3 years
Fixtures and fittings [member] | Bottom of range [member]
IfrsStatementLineItems [Line Items]
Property and equipment, depreciation useful lives		3 years
Fixtures and fittings [member] | Top of range [member]
IfrsStatementLineItems [Line Items]
Property and equipment, depreciation useful lives		5 years
Other property, plant and equipment [member]
IfrsStatementLineItems [Line Items]
Property and equipment, depreciation useful lives		3 years

Schedule of Amounts Receivable

Schedule of Amounts Receivable (Details) - USD ($)	Dec. 31, 2023	Dec. 31, 2022
Amounts Receivable
Accounts receivable	$ 1,403,781	$ 4,207,739
GST receivable	46,642	71,284
Interest receivable	44,339	52,538
Due from related parties	35,295	3,913
Other	63,288	2,351
Amounts receivable	$ 1,593,345	$ 4,337,825

Schedule of Prepaid Expenses an

Schedule of Prepaid Expenses and Deposits (Details) - USD ($)	Dec. 31, 2023	Dec. 31, 2022
Notes and other explanatory information [abstract]
Exploration and production advances	$ 174,031	$ 871,527
Prepaid expenses	426,487	83,852
Prepaid taxes	2,917	7,433
Close-Out Fund (Note 13)	371,124
Prepaid expenses and deposits	974,559	962,812
Prepaid expenses and deposits – Current	603,435
Long-term deposits	$ 371,124

Assets held for sale (Details N

Assets held for sale (Details Narrative) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Assets Held For Sale
Sell left-over field equipment	$ 3,036,216
Impairment losses	1,556,787
Assets held for sale	$ 1,479,429

Schedule of Oil and Gas Propert

Schedule of Oil and Gas Properties (Details) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
IfrsStatementLineItems [Line Items]
Cost, Beginning Balance	$ 33,892,334	$ 3,852,161
Additions	56,381,768	44,369,191
JV Contribution	(29,623,835)	(6,656,785)
Change in ARO estimate and additions	706,261	(3,871,334)
Currency translation adjustment	(18,644,910)	(4,748,897)
Impact of hyperinflation	22,081,979	947,998
Reclassified as assets held for sale (Note 5)	(3,036,216)
Cost, Ending Balance	61,757,381	33,892,334
Accumulated depletion, Beginning Balance	3,842,540	2,431,548
Depletion	5,119,174	1,451,032
Impact of hyperinflation	1,566,169	(40,040)
Currency translation adjustment	(1,424,602)
Accumulated depletion, Ending Balance	9,103,281	3,842,540
Net book value, Beginning Balance	30,049,794
Net book value, Ending Balance	52,654,100	30,049,794
South Akcakoca Sub-Basin [member]
IfrsStatementLineItems [Line Items]
Cost, Beginning Balance	31,334,321	1,398,676
Additions	56,381,768	44,369,191
JV Contribution	(29,623,835)	(6,656,785)
Change in ARO estimate and additions	706,159	(3,865,772)
Currency translation adjustment	(17,696,392)	(4,748,897)
Impact of hyperinflation	21,039,584	837,908
Reclassified as assets held for sale (Note 5)	(3,036,216)
Cost, Ending Balance	59,105,389	31,334,321
Accumulated depletion, Beginning Balance	1,972,988	743,647
Depletion	5,038,009	1,263,556
Impact of hyperinflation	804,164	(34,215)
Currency translation adjustment	(731,475)
Accumulated depletion, Ending Balance	7,083,686	1,972,988
Net book value, Beginning Balance	29,361,333
Net book value, Ending Balance	52,021,703	29,361,333
Cendere [Member]
IfrsStatementLineItems [Line Items]
Cost, Beginning Balance	2,558,013	2,453,485
Additions
JV Contribution
Change in ARO estimate and additions	102	(5,562)
Currency translation adjustment	(948,518)
Impact of hyperinflation	1,042,395	110,090
Reclassified as assets held for sale (Note 5)
Cost, Ending Balance	2,651,992	2,558,013
Accumulated depletion, Beginning Balance	1,869,552	1,687,901
Depletion	81,165	187,476
Impact of hyperinflation	762,005	(5,825)
Currency translation adjustment	(693,127)
Accumulated depletion, Ending Balance	2,019,595	1,869,552
Net book value, Beginning Balance	688,461
Net book value, Ending Balance	$ 632,397	$ 688,461

Oil and Gas Properties (Details

Oil and Gas Properties (Details Narrative) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
IfrsStatementLineItems [Line Items]
Interest percentage for wells	19.60%
Development costs	$ 65,000	$ 65,000
Development expense	$ 35,144,000	$ 49,960,000
Cendere Oil Field [Member]
IfrsStatementLineItems [Line Items]
Interest percentage for wells	9.80%
South Akcakoca Sub-Basin [member]
IfrsStatementLineItems [Line Items]
Working Interest rate	49%

Schedule of Exploration & Evalu

Schedule of Exploration & Evaluation Asset (Details) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
IfrsStatementLineItems [Line Items]
Cost, Beginning Balance	$ 33,892,334	$ 3,852,161
Impairment		3,101,343
Cost, Ending Balance	61,757,381	33,892,334	$ 3,852,161
Exploration and evaluation assets [member]
IfrsStatementLineItems [Line Items]
Cost, Beginning Balance	3,116,146
Impairment	(3,101,343)
Foreign currency translation change	(14,803)
Cost, Ending Balance		3,116,146
Exploration and evaluation assets [member] | Unproven properties turkey [member]
IfrsStatementLineItems [Line Items]
Cost, Beginning Balance
Impairment
Foreign currency translation change
Cost, Ending Balance
Exploration and evaluation assets [member] | Unproven properties bulgaria [member]
IfrsStatementLineItems [Line Items]
Cost, Beginning Balance	3,116,146
Impairment	(3,101,343)
Foreign currency translation change	(14,803)
Cost, Ending Balance		$ 3,116,146

Schedule of Property, Plant and

Schedule of Property, Plant and Equipment (Details) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
IfrsStatementLineItems [Line Items]
Beginning Balance	$ 741,727
Disposals		$ (64,588)
Ending Balance	720,550	741,727
Net Book Value	720,550	741,727
Right-of-use assets [member]
IfrsStatementLineItems [Line Items]
Beginning Balance	10,282
Ending Balance	134,018	10,282
Net Book Value	134,018	10,282
Leasehold improvements [member]
IfrsStatementLineItems [Line Items]
Beginning Balance	59,367
Ending Balance	64,227	59,367
Net Book Value	64,227	59,367
Other property, plant and equipment [member]
IfrsStatementLineItems [Line Items]
Beginning Balance	287,915
Ending Balance	259,710	287,915
Net Book Value	259,710	287,915
Motor vehicles [member]
IfrsStatementLineItems [Line Items]
Beginning Balance	347,520
Ending Balance	214,165	347,520
Net Book Value	214,165	347,520
Fixtures and fittings [member]
IfrsStatementLineItems [Line Items]
Beginning Balance	36,643
Ending Balance	48,430	36,643
Net Book Value	48,430	36,643
Gross carrying amount [member]
IfrsStatementLineItems [Line Items]
Beginning Balance	1,073,849	343,745
Additions	296,378	696,928
Depreciation
Disposals	(144,713)	(64,588)
Currency translation adjustment	(458,580)	(78,479)
Impact of hyperinflation	432,961	176,243
Ending Balance	1,199,895	1,073,849
Net Book Value	1,199,895	1,073,849
Gross carrying amount [member] | Right-of-use assets [member]
IfrsStatementLineItems [Line Items]
Beginning Balance	50,449	53,143
Additions	236,202
Depreciation
Disposals	(47,685)
Currency translation adjustment	(105,792)	(5,293)
Impact of hyperinflation	69,616	2,599
Ending Balance	202,790	50,449
Net Book Value	202,790	50,449
Gross carrying amount [member] | Leasehold improvements [member]
IfrsStatementLineItems [Line Items]
Beginning Balance	186,362	138,450
Additions	14,498	42,699
Depreciation
Disposals
Currency translation adjustment	(60,555)	(2,890)
Impact of hyperinflation	68,608	8,103
Ending Balance	208,913	186,362
Net Book Value	208,913	186,362
Gross carrying amount [member] | Other property, plant and equipment [member]
IfrsStatementLineItems [Line Items]
Beginning Balance	333,337	2,102
Additions	11,076	289,640
Depreciation
Disposals
Currency translation adjustment	(126,062)	(31,002)
Impact of hyperinflation	140,538	72,597
Ending Balance	358,889	333,337
Net Book Value	358,889	333,337
Gross carrying amount [member] | Motor vehicles [member]
IfrsStatementLineItems [Line Items]
Beginning Balance	458,784	140,365
Additions	15,644	332,528
Depreciation
Disposals	(97,028)	(64,588)
Currency translation adjustment	(151,880)	(37,147)
Impact of hyperinflation	136,661	87,626
Ending Balance	362,181	458,784
Net Book Value	362,181	458,784
Gross carrying amount [member] | Fixtures and fittings [member]
IfrsStatementLineItems [Line Items]
Beginning Balance	44,917	9,685
Additions	18,958	32,061
Depreciation
Disposals
Currency translation adjustment	(14,291)	(2,147)
Impact of hyperinflation	17,538	5,318
Ending Balance	67,122	44,917
Net Book Value	67,122	44,917
Accumulated Depreciation [Member]
IfrsStatementLineItems [Line Items]
Beginning Balance	332,122	196,611
Depreciation	175,764	145,035
Disposals	(40,599)
Currency translation adjustment	(121,344)
Impact of hyperinflation	133,402	(9,524)
Ending Balance	479,345	332,122
Net Book Value	479,345	332,122
Accumulated Depreciation [Member] | Right-of-use assets [member]
IfrsStatementLineItems [Line Items]
Beginning Balance	40,167	35,758
Depreciation	37,457	4,549
Disposals	(10,332)
Currency translation adjustment	(14,892)
Impact of hyperinflation	16,372	(140)
Ending Balance	68,772	40,167
Net Book Value	68,772	40,167
Accumulated Depreciation [Member] | Leasehold improvements [member]
IfrsStatementLineItems [Line Items]
Beginning Balance	126,995	115,109
Depreciation	13,135	12,324
Disposals
Currency translation adjustment	(45,848)
Impact of hyperinflation	50,404	(438)
Ending Balance	144,686	126,995
Net Book Value	144,686	126,995
Accumulated Depreciation [Member] | Other property, plant and equipment [member]
IfrsStatementLineItems [Line Items]
Beginning Balance	45,422	1,922
Depreciation	52,084	47,423
Disposals
Currency translation adjustment	(16,840)
Impact of hyperinflation	18,513	(3,923)
Ending Balance	99,179	45,422
Net Book Value	99,179	45,422
Accumulated Depreciation [Member] | Motor vehicles [member]
IfrsStatementLineItems [Line Items]
Beginning Balance	111,264	41,377
Depreciation	62,920	74,622
Disposals	(30,267)
Currency translation adjustment	(41,251)
Impact of hyperinflation	45,350	(4,735)
Ending Balance	148,016	111,264
Net Book Value	148,016	111,264
Accumulated Depreciation [Member] | Fixtures and fittings [member]
IfrsStatementLineItems [Line Items]
Beginning Balance	8,274	2,445
Depreciation	10,168	6,117
Disposals
Currency translation adjustment	(2,513)
Impact of hyperinflation	2,763	(288)
Ending Balance	18,692	8,274
Net Book Value	$ 18,692	$ 8,274

Exploration & Evaluation Asse_3

Exploration & Evaluation Assets (Details Narrative) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
IfrsStatementLineItems [Line Items]
Impairment loss		$ 3,101,343
Payment for fee	15,000
Geological and geophysical expenses	706,410	$ 636,248
Farm in agreement [member]
IfrsStatementLineItems [Line Items]
Geological and geophysical expenses	$ 381,618

Schedule of Accounts Payable an

Schedule of Accounts Payable and Accrued Liabilities (Details) - USD ($)	Dec. 31, 2023	Dec. 31, 2022
Notes and other explanatory information [abstract]
Accounts payable	$ 13,567,262	$ 8,376,620
Accrued liabilities	77,078	886,324
Payroll, withholding and sales tax liabilities	420,679	420,072
Cash calls received from JV partner		917,064
Total	$ 14,065,019	$ 10,600,080

Schedule of Loans Payable (Deta

Schedule of Loans Payable (Details) - USD ($)		Dec. 31, 2023		Feb. 01, 2023	Dec. 31, 2022
IfrsStatementLineItems [Line Items]
Total loans payable		$ 3,464,450			$ 166,555
Current portion of loans payable		(3,464,450)			(145,866)
Long-term portion of loans payable					20,689
Unsecured loan one [member]
IfrsStatementLineItems [Line Items]
Total loans payable	[1]				12,107
Unsecured loan two [member]
IfrsStatementLineItems [Line Items]
Total loans payable	[2]				56,537
Unsecured loan three [member]
IfrsStatementLineItems [Line Items]
Total loans payable	[3]				97,911
Unsecured loan four [member]
IfrsStatementLineItems [Line Items]
Total loans payable	[4]	19,461
Unsecured loan five [member]
IfrsStatementLineItems [Line Items]
Total loans payable		614,899	[5],[6]	$ 2,200,000		[5],[6]
Unsecured loan six [member]
IfrsStatementLineItems [Line Items]
Total loans payable	[7]	2,822,250
Unsecured loan seven [member]
IfrsStatementLineItems [Line Items]
Total loans payable	[8]	$ 7,840
[1]Loans bearing interest accrue at 10 January and April 1, 2021 Nil 135,868 Nil 3,515 12,107 1,500,000 91,961 May 23, 2024 45.33 45,832 26,968 14,717 20,636 2,000,000 107,356 November 23, 2023 3.5944 79,372 10,183 4,264 1,607 2,000,000 105,386 March 12, 2024 37.67 61,627 nil 18,676 nil 300,000 228,023 6 50,000 37,717 7,917 5,867 546,000 402,115 6 10,734 7,954 1,065,000 1,597,500 65,000 97,500 1 December 31, 2023 December 31, 2024 40,000 60,000 23,900 35,850 63,916 96,138 12,000 8,766 1,614 1,179

Schedule of Loans Payable (De_2

Schedule of Loans Payable (Details) (Parenthetical)									12 Months Ended
		Jul. 01, 2023 USD ($)	Apr. 26, 2023 USD ($)	Apr. 20, 2023 CAD ($) shares	Mar. 13, 2023	Feb. 01, 2023 USD ($)	Nov. 23, 2022 USD ($)	May 25, 2022 USD ($)	Dec. 31, 2023 USD ($) shares		Dec. 31, 2023 CAD ($)	Dec. 31, 2022 USD ($)		Dec. 31, 2022 USD ($) shares		Dec. 31, 2022 USD ($) $ / shares		Dec. 31, 2022 USD ($) $ / shares		Nov. 23, 2023 USD ($)	Nov. 23, 2023 CAD ($)	Sep. 01, 2023 USD ($)	Sep. 01, 2023 CAD ($)	Jul. 31, 2023	Jul. 20, 2023 USD ($)	Jul. 20, 2023 CAD ($)	Mar. 12, 2023 USD ($)	Mar. 12, 2023 TRY (₺)	Nov. 23, 2022 TRY (₺)	May 25, 2022 TRY (₺)
IfrsStatementLineItems [Line Items]
Interest rate				12%					35%															5%
Loan, maturity date				April 30, 2025
Borrowings									$ 3,464,450			$ 166,555		$ 166,555		$ 166,555		$ 166,555
Common stock, shares | shares									80,000
Exercise price of warrant														1,442,000		0.22		0.30
Broker warrants [member]
IfrsStatementLineItems [Line Items]
Common stock, shares | shares				300,000
Exercise price of warrant				2.50
Unsecured loan one [member]
IfrsStatementLineItems [Line Items]
Interest rate									10%
Loan, maturity date									January and April 1, 2021		January and April 1, 2021
Principal payments												135,868
Interest payments												3,515
Wrote off remaining balance									12,107
Borrowings	[1]											12,107		$ 12,107		$ 12,107		$ 12,107
Unsecured loan two [member]
IfrsStatementLineItems [Line Items]
Interest rate								45.33%	45.33%																					45.33%
Loan, maturity date								May 23, 2024
Principal payments									$ 45,832			26,968
Interest payments									14,717			20,636
Principal amount								$ 91,961																						₺ 1,500,000
Borrowings	[2]											56,537		56,537		56,537		56,537
Unsecured loan three [member]
IfrsStatementLineItems [Line Items]
Interest rate							3.5944%		3.5944%																				3.5944%
Loan, maturity date							November 23, 2023
Principal payments									$ 79,372			10,183
Interest payments									4,264			1,607
Principal amount							$ 107,356																						₺ 2,000,000
Borrowings	[3]											97,911		97,911		97,911		97,911
Unsecured loan four [member]
IfrsStatementLineItems [Line Items]
Interest rate									37.70%																		37.67%	37.67%
Loan, maturity date					March 12, 2024
Principal payments									$ 61,627
Interest payments									18,676
Principal amount																											$ 105,386	₺ 2,000,000
Borrowings	[4]								$ 19,461
Unsecured loan five [member]
IfrsStatementLineItems [Line Items]
Interest rate						1%			6%
Loan, maturity date						April 1, 2024
Borrowings						$ 2,200,000			$ 614,899	[5],[6]			[5],[6]		[5],[6]		[5],[6]		[5],[6]
Debt discount						200,000
Interest payment on loan						100,000
Exit fee						$ 50,000
Interest expense			$ 200,000
Unsecured loan six [member]
IfrsStatementLineItems [Line Items]
Interest rate									1%
Borrowings	[7]								$ 2,822,250
Unsecured loan six fund one [member]
IfrsStatementLineItems [Line Items]
Interest rate		1%
Loan, maturity date		December 31, 2023
Borrowings		$ 1,065,000
Debt discount		65,000
Interest payment on loan		$ 40,000
Loan, maturity date extend		December 31, 2024
Accrued interest		$ 23,900
Accretion discount									63,916
Unsecured loan six fund two [member]
IfrsStatementLineItems [Line Items]
Interest rate		1%
Loan, maturity date		December 31, 2023
Borrowings		$ 1,597,500
Debt discount		97,500
Interest payment on loan		$ 60,000
Loan, maturity date extend		December 31, 2024
Accrued interest		$ 35,850
Accretion discount									96,138
Unsecured loan seven [member]
IfrsStatementLineItems [Line Items]
Interest payments									5,867		$ 7,917
Borrowings	[8]								7,840
Debt instruments issued																									$ 228,023	$ 300,000
Interest rate																									6%	6%
Principal amount									37,717		50,000
Unsecured Loan Eight [Member]
IfrsStatementLineItems [Line Items]
Interest payments									7,954		10,734
Debt instruments issued																						$ 402,115	$ 546,000
Interest rate																						6%	6%
Unsecured Loan Nine [Member]
IfrsStatementLineItems [Line Items]
Debt instruments issued																				$ 8,766	$ 12,000
Principal amount									1,179		1,614
Unsecured Loan Ten [Member]
IfrsStatementLineItems [Line Items]
Debt instruments issued																				$ 146,121	$ 200,000
Principal amount									$ 146,121		$ 200,000
[1]Loans bearing interest accrue at 10 January and April 1, 2021 Nil 135,868 Nil 3,515 12,107 1,500,000 91,961 May 23, 2024 45.33 45,832 26,968 14,717 20,636 2,000,000 107,356 November 23, 2023 3.5944 79,372 10,183 4,264 1,607 2,000,000 105,386 March 12, 2024 37.67 61,627 nil 18,676 nil 300,000 228,023 6 50,000 37,717 7,917 5,867 546,000 402,115 6 10,734 7,954 1,065,000 1,597,500 65,000 97,500 1 December 31, 2023 December 31, 2024 40,000 60,000 23,900 35,850 63,916 96,138 12,000 8,766 1,614 1,179

Property and Equipment (Details

Property and Equipment (Details Narrative) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Notes and other explanatory information [abstract]
Net book value	$ 66,761
Cash and accounts payable	86,296
Property plant and equipment	19,535		$ 40,074
Disposal of right of use assets	37,353
Lease component value	69,217
Gain on termination of lease	31,864
Disposal of equipment		64,588
Disposal of property equipment		$ 64,588	$ 65,016

Schedule of Changes in Lease Li

Schedule of Changes in Lease Liability (Details) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Notes and other explanatory information [abstract]
Beginning balance	$ 8,609	$ 15,324
Additions, cost	236,201
Interest expense	53,831	1,378
Lease payments	(85,271)	(5,499)
Currency translation adjustment	(2,458)	(2,594)
Termination of lease	(69,217)
Ending balance	$ 141,695	$ 8,609

Schedule of Lease Liability (De

Schedule of Lease Liability (Details) - USD ($)	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Notes and other explanatory information [abstract]
Current portion of lease liability	$ 19,637	$ 4,057
Long-term portion of lease liability	122,058	4,552
Lease liability	$ 141,695	$ 8,609	$ 15,324

Schedule of Future Minimum Leas

Schedule of Future Minimum Lease Payments (Details) - USD ($)	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
IfrsStatementLineItems [Line Items]
Total future minimum lease payments	$ 236,491
Discount	(94,796)
Total	141,695	$ 8,609	$ 15,324
Not later than one year [member]
IfrsStatementLineItems [Line Items]
Total future minimum lease payments	58,919
Later than one year and not later than two years [member]
IfrsStatementLineItems [Line Items]
Total future minimum lease payments	57,488
Later than two years and not later than three years [member]
IfrsStatementLineItems [Line Items]
Total future minimum lease payments	59,163
Later than three years and not later than four years [member]
IfrsStatementLineItems [Line Items]
Total future minimum lease payments	$ 60,921

Leases (Details Narrative)

Leases (Details Narrative) - USD ($)	12 Months Ended
	Dec. 31, 2023	Jul. 31, 2023	Apr. 20, 2023	Dec. 31, 2022
Notes and other explanatory information [abstract]
Remaining lease terms	5 years
Interest rate	35%	5%	12%
Short-term leases	$ 33,743			$ 42,118

Schedule of Fair Value Assumpti

Schedule of Fair Value Assumptions of Conversion Features (Details) - Warrants And Conversion [Member]	Apr. 20, 2023
Interest rate, measurement input [member]
IfrsStatementLineItems [Line Items]
Warrant inputs	3.86
Historical volatility for shares, measurement input [member] | Bottom of range [member]
IfrsStatementLineItems [Line Items]
Warrant inputs	101.71
Historical volatility for shares, measurement input [member] | Top of range [member]
IfrsStatementLineItems [Line Items]
Warrant inputs	119.94
Dividend yield measurement input [member]
IfrsStatementLineItems [Line Items]
Warrant inputs	0
Expected life measurement input [member] | Bottom of range [member]
IfrsStatementLineItems [Line Items]
Expected life (years)	2 years 10 days
Expected life measurement input [member] | Top of range [member]
IfrsStatementLineItems [Line Items]
Expected life (years)	2 years 2 months 8 days

Schedule of Convertible Debt (D

Schedule of Convertible Debt (Details)	12 Months Ended
	Dec. 31, 2023 USD ($)
Convertible Debentures
Balance as at January 1, 2023
Issued	11,135,145
Transaction costs	(992,525)
Transaction costs allocated to equity	77,086
Relative fair value of conversion feature	(369,181)
Relative fair value of Warrants	(495,653)
Repayment	(709,022)
Accretion	578,675
Interest	931,962
Currency translation adjustment	173,232
Balance as at December 31, 2023	10,329,719
Current, convertible debt	227,092
Long-term, convertible debt	$ 10,102,627

Convertible debentures (Details

Convertible debentures (Details Narrative)			12 Months Ended
	Apr. 20, 2023 USD ($) shares $ / shares	Apr. 20, 2023 CAD ($) shares $ / shares	Dec. 31, 2023 USD ($) shares $ / shares	Dec. 31, 2022 USD ($) shares $ / shares	Dec. 31, 2022 USD ($) shares $ / shares	Jul. 31, 2023	Apr. 20, 2023 CAD ($) $ / shares shares	Dec. 31, 2021 USD ($)
IfrsStatementLineItems [Line Items]
Number of units issued			80,000
Secured convertible debenture	$ 742		$ 113,309	$ 1,062,062	$ 1,062,062		$ 1,000	$ 1,193,641
Warrants to purchase shares	333	333
Exercise price of warrants | (per share)	$ 1.86	$ 2.50		$ 1.20	$ 1.55
Warrants expire date	Jun. 29, 2025	Jun. 29, 2025
Loan, maturity date	April 30, 2025	April 30, 2025
Interest rate	12%		35%			5%	12%
Redeem debentures percent	105%						105%
Conversion price per share | (per share)	$ 2.23						$ 3
Underwriting fee	$ 775,748						$ 1,045,000
Fair value of warrants | $
Market interest rate	16%						16%
Warrants [member]
IfrsStatementLineItems [Line Items]
Warrants to purchase shares			7,402,726	21,011,038	21,011,038
Exercise price of warrants | $ / shares			$ 1.88	$ 2.31
Fair value of warrants | $	$ 216,777
Risk free interest rate, share options granted	3.77%	3.77%
Expected volatility, share options granted	100.96%	100.96%
Expected dividend as percentage, share options granted	0%	0%	0%	0%	0%
Expected Expected years, share options granted	2 years	2 years
Broker warrants [member]
IfrsStatementLineItems [Line Items]
Number of units issued	300,000						300,000
Warrants expire date	Apr. 20, 2025	Apr. 20, 2025
Eight Capital [Member]
IfrsStatementLineItems [Line Items]
Number of units issued	15,000						15,000
Units price per share | $ / shares		$ 1,000
Proceeds from share issuance	$ 11,135,145	$ 15,000,000

Schedule of Asset Retirement Ob

Schedule of Asset Retirement Obligations (Details) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Asset Retirement Obligation
Beginning balance	$ 5,316,470	$ 8,993,108
Additions	797,102
Accretion expense	219,536	264,075
Impact of hyperinflation	(599,096)	(69,379)
Currency translation adjustment	603,856
Change in estimate	(90,841)	(3,871,334)
Ending balance	$ 6,247,027	$ 5,316,470

Asset Retirement Obligation (De

Asset Retirement Obligation (Details Narrative) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
IfrsStatementLineItems [Line Items]
Undiscounted amount	$ 16,500,000	$ 10,600,000
Inflation interest rate	2.50%	2.50%
Interest free rate	4%	3.91%
Natural gas revenue deposit percentage	10%
Close out Fund amounted	$ 371,124
Bottom of range [member]
IfrsStatementLineItems [Line Items]
Asset retirement obligations years	10 years
Top of range [member]
IfrsStatementLineItems [Line Items]
Asset retirement obligations years	20 years

Schedule of Notes and Amounts R

Schedule of Notes and Amounts Receivable for the Equity Issued (Details) - USD ($)	Dec. 31, 2023	Dec. 31, 2022
Notes And Amounts Receivable For Equity Issued
Notes receivable	$ 97,907	$ 1,000,122
Amounts receivable	15,402	61,940
Notes and Amounts Receivable for Equity Issued	$ 113,309	$ 1,062,062

Schedule of Note and Other Rece

Schedule of Note and Other Receivable (Details) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
IfrsStatementLineItems [Line Items]
Balance	$ 1,062,062	$ 1,193,641
Additions		51,659
Repayments	(333,906)	(161,139)
Write-off	(10,310)	(22,099)
Settled through RSU repurchase (Note 18)	(604,537)
Balance	113,309	1,062,062
Notes receivables [member]
IfrsStatementLineItems [Line Items]
Balance	1,000,122	1,158,832
Additions
Repayments	(297,678)	(136,611)
Write-off		(22,099)
Settled through RSU repurchase (Note 18)	(604,537)
Balance	97,907	1,000,122
Amounts receivable [Member]
IfrsStatementLineItems [Line Items]
Balance	61,940	34,809
Additions		51,659
Repayments	(36,228)	(24,528)
Write-off	(10,310)
Settled through RSU repurchase (Note 18)
Balance	$ 15,402	$ 61,940

Notes and Amounts Receivable _3

Notes and Amounts Receivable for Equity Issued (Details Narrative) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Jul. 31, 2023	Apr. 20, 2023
Notes And Amounts Receivable For Equity Issued
Interest rate	35%		5%	12%
Accrued interest income	$ 16,373	$ 52,502
Accrued interest	44,262	52,538
Cash repayment	80,991	136,611
Repayment of account payable	$ 252,915	$ 24,528

Common Stock (Details Narrative

Common Stock (Details Narrative)									1 Months Ended		12 Months Ended
	Nov. 28, 2023 USD ($) $ / shares shares	Nov. 28, 2023 CAD ($) $ / shares shares	Apr. 20, 2023 shares $ / shares	Apr. 20, 2023 shares $ / shares	Jun. 29, 2022 USD ($) $ / shares shares	Jun. 29, 2022 CAD ($) $ / shares shares	Mar. 17, 2022 USD ($) shares	Mar. 17, 2022 CAD ($) shares	Mar. 30, 2022 USD ($) shares	Mar. 30, 2022 CAD ($) shares $ / shares	Dec. 31, 2023 USD ($) shares $ / shares	Dec. 31, 2023 CAD ($) shares $ / shares	Dec. 31, 2022 USD ($) shares $ / shares	Dec. 31, 2022 CAD ($) shares $ / shares	Dec. 31, 2021 USD ($) shares	Nov. 02, 2022 shares	Dec. 31, 2020 shares
IfrsStatementLineItems [Line Items]
Shares issued											80,000
Number of warrants, Issued			333	333
Exercise price of warrant													1,442,000	1,442,000
Net debt | $											$ 10,329,719
Proceeds from exercise of warrants | $											$ 2,215		$ 1,208,249		$ 1,772,884
Number of share options exercised in share-based payment arrangement											440,000	440,000	669,000	669,000
Exercisable price | (per share)			$ 1.86	$ 2.50									$ 1.20	$ 1.55
Consulting agreement [member]
IfrsStatementLineItems [Line Items]
Shares issued											100,000
Fair value of share issued | $											$ 18,873
Shares bonus											25,000
Consulting agreement [member] | Consulting service [member]
IfrsStatementLineItems [Line Items]
Shares issued																40,000
Fair value of share issued | $													$ 51,208
Share-based compensation | $													$ 51,208
Restricted stock unit [member]
IfrsStatementLineItems [Line Items]
Shares issued											1,762,805
Liabilities [member]
IfrsStatementLineItems [Line Items]
Shares issued											150,000
Fair value of share issued | $											$ 212,632
Net debt | $											195,290
Loss on issuance of debt | $											$ 17,342
Services Rendered [Member]
IfrsStatementLineItems [Line Items]
Shares issued											60,000
Fair value of share issued | $											$ 29,299
Loss on issuance of debt | $											17,342
Services rendered | $											$ 11,957
Issued capital [member]
IfrsStatementLineItems [Line Items]
Shares issued	36,057,934	36,057,934			14,507,380	14,507,380
Proceeds from issue of ordinary shares	$ 7,960,687	$ 10,817,380			$ 17,408,856	$ 22,486,439
Stock options [member]
IfrsStatementLineItems [Line Items]
Shares issued											40,000		60,000
Exercise price | (per share)	$ 0.22	$ 0.30			$ 1.20	$ 1.55					$ 0.55	$ 0.75	$ 0.29	$ 0.40
Proceeds from issue of ordinary shares											$ 21,872	$ 30,000	$ 17,609	$ 24,000
Number of share options exercised in share-based payment arrangement											40,000	40,000	60,000	60,000
Proceeds from shares issued | $											$ 18,475		$ 16,557
Warrants [member]
IfrsStatementLineItems [Line Items]
Shares issued													538,250
Exercise price | (per share)													$ 0.38	$ 0.50
Proceeds from issue of ordinary shares													$ 202,713	$ 269,125
Number of warrants, Issued									1,501,357	1,501,357	2,101,726	2,101,726	850,288	850,288
Exercise price of warrant					1.95	2.50
Shares issued and fair value											$ 259,955	$ 353,288
Fair value of share issued										$ 994,775			$ 787,785	$ 1,014,290
Number of share options exercised in share-based payment arrangement													538,250	538,250
Proceeds from shares issued | $													$ 336,464
Warrant issued price per share | $ / shares						0.20
Exercisable price | (per share)													$ 1.80	$ 2.50
Ordinary shares [member]
IfrsStatementLineItems [Line Items]
Shares outstanding											115,250,810		76,775,071		37,033,919		25,067,831
Proceeds from exercise of warrants | $											$ 5,000
Exercise price per share | (per share)											$ 0.44	$ 0.60
Proceeds from shares issued											$ 2,215	$ 3,000
Stock options one [member]
IfrsStatementLineItems [Line Items]
Shares issued											70,000		155,000
Exercise price | (per share)											$ 1.62	$ 2.20	$ 0.39	$ 0.50
Proceeds from issue of ordinary shares											$ 113,717	$ 154,000	$ 58,751	$ 77,500
Number of share options exercised in share-based payment arrangement											70,000	70,000	149,000	149,000
Proceeds from shares issued | $											$ 72,050		$ 55,001
[custom:CommonStockIssuedWereCancelled-0]													6,000
Shares to be cancelled													2,322	2,322
Stock options two [member]
IfrsStatementLineItems [Line Items]
Shares issued											70,000		50,000
Exercise price | (per share)											$ 0.60	$ 0.80	$ 0.39	$ 0.50
Proceeds from issue of ordinary shares											$ 42,000	$ 56,453
Proceeds from shares issued													$ 19,270	$ 25,000
Number of share options exercised in share-based payment arrangement											70,000	70,000	50,000	50,000
Proceeds from shares issued | $											$ 35,174		$ 18,474
Stock options three [member]
IfrsStatementLineItems [Line Items]
Shares issued											60,000		330,000
Exercise price | (per share)											$ 0.56	$ 0.75	$ 1.50	$ 2.20
Proceeds from issue of ordinary shares											$ 33,479	$ 45,000	$ 494,706	$ 726,000
Number of share options exercised in share-based payment arrangement											60,000	60,000	330,000	330,000
Proceeds from shares issued | $											$ 29,939		$ 341,584
Receivables for equity													$ 41,349	$ 56,000
Stock options four [member]
IfrsStatementLineItems [Line Items]
Shares issued											200,000		80,000
Exercise price | (per share)											$ 1.66	$ 2.20	$ 0.60
Proceeds from issue of ordinary shares											$ 331,796	$ 440,000
Proceeds from shares issued | $													$ 48,000
Number of share options exercised in share-based payment arrangement											200,000	200,000	80,000	80,000
Proceeds from shares issued | $											$ 273,583		$ 43,290
Warrants one [member]
IfrsStatementLineItems [Line Items]
Shares issued													160,000
Exercise price | (per share)													$ 0.37	$ 0.50
Proceeds from shares issued | $													$ 58,698
Number of share options exercised in share-based payment arrangement													160,000	160,000
Proceeds from shares issued | $													$ 98,786
Warrants two [member]
IfrsStatementLineItems [Line Items]
Shares issued													50,000
Exercise price | (per share)													$ 0.37	$ 0.50
Proceeds from shares issued													$ 8,034	$ 10,949
Number of share options exercised in share-based payment arrangement													50,000	50,000
Proceeds from shares issued | $													$ 31,511
Receivables for equity													$ 10,310	$ 14,051
Warrants three [member]
IfrsStatementLineItems [Line Items]
Shares issued													5,000
Exercise price | (per share)													$ 0.44	$ 0.60
Proceeds from issue of ordinary shares													$ 2,213	$ 3,000
Number of share options exercised in share-based payment arrangement													5,000	5,000
Warrants four [member]
IfrsStatementLineItems [Line Items]
Shares issued													49,000
Exercise price | (per share)													$ 0.76	$ 1
Proceeds from issue of ordinary shares													$ 37,225	$ 49,000
Number of share options exercised in share-based payment arrangement													49,000	49,000
Warrants five [member]
IfrsStatementLineItems [Line Items]
Shares issued													550,000
Exercise price | (per share)													$ 1.15	$ 1.55
Proceeds from issue of ordinary shares													$ 635,127	$ 852,500
Number of share options exercised in share-based payment arrangement													550,000	550,000
Proceeds from shares issued | $													$ 467,968
Warrants six [member]
IfrsStatementLineItems [Line Items]
Shares issued													9,500
Exercise price | (per share)													$ 1.69	$ 2.25
Proceeds from issue of ordinary shares													$ 16,101	$ 21,375
Number of share options exercised in share-based payment arrangement													9,500	9,500
Proceeds from shares issued | $													$ 1,159
Warrants seven [member]
IfrsStatementLineItems [Line Items]
Shares issued													221,616
Exercise price | $ / shares													$ 0.39
Proceeds from issue of ordinary shares | $														$ 87,071
Fair value of share issued | $													$ 326,695
Number of share options exercised in share-based payment arrangement													221,616	221,616
Warrants eight [member]
IfrsStatementLineItems [Line Items]
Shares issued													250,000
Exercise price | $ / shares													$ 0.40
Fair value of share issued | $													$ 121,604
Proceeds from shares issued | $													$ 100,000
Number of share options exercised in share-based payment arrangement													250,000	250,000
Warrants nine [member]
IfrsStatementLineItems [Line Items]
Shares issued													152,000
Exercise price | $ / shares													$ 0.50
Fair value of share issued | $													$ 164,025
Proceeds from shares issued | $													$ 67,797
Number of share options exercised in share-based payment arrangement													152,000	152,000
Warrants ten [member]
IfrsStatementLineItems [Line Items]
Shares issued													200,000
Exercise price | $ / shares													$ 0.80
Fair value of share issued | $													$ 210,627
Proceeds from shares issued | $													$ 160,000
Number of share options exercised in share-based payment arrangement													200,000	200,000
Ordinary shares [member]
IfrsStatementLineItems [Line Items]
Par value | $ / shares											$ 0
Shares outstanding											115,250,810		76,775,071
Share issued price per share | $ / shares										$ 2.25
Cash Finders Fee [Member]
IfrsStatementLineItems [Line Items]
Payment of cash finder's fee											$ 543,057	$ 737,934
Non brokered private placement [member]
IfrsStatementLineItems [Line Items]
Shares issued										21,331,588
Payment of cash finder's fee									$ 1,108,790	$ 1,397,495			$ 1,549,196	$ 1,994,906
Proceeds from shares issued									$ 13,886,226	$ 17,598,610
Share issued price per share | $ / shares										$ 0.825
Non brokered private placement [member] | Debt settlement [member]
IfrsStatementLineItems [Line Items]
Number of warrants, Issued									600,000	600,000
Fair value of share issued									$ 391,021	$ 495,000
Non brokered private placement [member] | Investor relation [member]
IfrsStatementLineItems [Line Items]
Number of warrants, Issued							181,818	181,818
Fair value of share issued							$ 118,188	$ 150,000
Share-based compensation													$ 118,188	$ 150,000
Non brokered private placement [member] | Vesting of restricted stock units [member]
IfrsStatementLineItems [Line Items]
Number of warrants, Issued													220,000	220,000	10,000
Share-based compensation | $															$ 7,540
Non brokered private placement [member] | Granting and vesting of restricted stock units [member]
IfrsStatementLineItems [Line Items]
Number of warrants, Issued													210,000	210,000
Fair value of share issued | $														$ 111,122

Summary of Changes in Stock Opt

Summary of Changes in Stock Options (Details)	12 Months Ended
	Dec. 31, 2023 shares $ / shares	Dec. 31, 2022 shares	Dec. 31, 2022 $ / shares	Dec. 31, 2022 $ / shares
Notes and other explanatory information [abstract]
Number of options outstanding, Ending Balance | shares	2,300,000	1,528,000
Weighted average exercise price, Ending Balance	$ 1.27		$ 0.79
Number of options outstanding, Granted		1,442,000	0.22	0.30
Weighted average exercise price, Granted			$ 1.86
Number of options outstanding, Exercised | shares	(440,000)	(669,000)
Weighted average exercise price, Exercised	$ 1.65		1.33
Number of options outstanding, Expired | shares	(240,000)	(1,000)
Weighted average exercise price, Expired	$ 0.79		0.50
Number of options outstanding, Ending Balance | shares	1,620,000	2,300,000
Weighted average exercise price, Ending Balance	$ 1.24		$ 1.27
Number of options Exercisable, Ending Balance | shares	1,620,000
Weighted average shares exercisable, Ending Balance	$ 1.24

Schedule of Stock Options Outst

Schedule of Stock Options Outstanding and Exercisable (Details)	12 Months Ended
	Dec. 31, 2023 shares $ / shares	Dec. 31, 2022 shares	Dec. 31, 2021 shares
IfrsStatementLineItems [Line Items]
Number of Options Outstanding	1,620,000	2,300,000	1,528,000
Number of Options Vested	1,620,000
Exercise price one [member]
IfrsStatementLineItems [Line Items]
Number of Options Outstanding	660,000
Exercise Price | $ / shares	$ 0.75
Expiry Date	September 19, 2024
Number of Options Vested	660,000
Exercise price two [member]
IfrsStatementLineItems [Line Items]
Number of Options Outstanding	128,000
Exercise Price | $ / shares	$ 0.40
Expiry Date	July 31, 2025
Number of Options Vested	128,000
Exercise price three [member]
IfrsStatementLineItems [Line Items]
Number of Options Outstanding	512,000
Exercise Price | $ / shares	$ 1.50
Expiry Date	July 26, 2025
Number of Options Vested	512,000
Exercise price four [member]
IfrsStatementLineItems [Line Items]
Number of Options Outstanding	50,000
Exercise Price | $ / shares	$ 1.90
Expiry Date	June 6, 2026
Number of Options Vested	50,000
Exercise price five [member]
IfrsStatementLineItems [Line Items]
Number of Options Outstanding	150,000
Exercise Price | $ / shares	$ 2.20
Expiry Date	October 27, 2025
Number of Options Vested	150,000
Exercise price six [member]
IfrsStatementLineItems [Line Items]
Number of Options Outstanding	70,000
Exercise Price | $ / shares	$ 2.20
Expiry Date	December 9, 2024
Number of Options Vested	70,000
Exercise price seven [member]
IfrsStatementLineItems [Line Items]
Number of Options Outstanding	50,000
Exercise Price | $ / shares	$ 2.20
Expiry Date	December 9, 2025
Number of Options Vested	50,000

Stock Options (Details Narrativ

Stock Options (Details Narrative) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
IfrsStatementLineItems [Line Items]
Weighted average remaining contractual life of outstanding share options	1 year 3 months 3 days	2 years 1 month 2 days
Stock-based compensation expense	$ 118,202	$ 1,421,267
Unrecognized compensation expenses		$ 123,873
2022 Long Term Incentive Equity Plan [Member]
IfrsStatementLineItems [Line Items]
Number of shares issued and outstanding percentage	10%
2022 Long Term Incentive Equity Plan [Member]
IfrsStatementLineItems [Line Items]
Incentive plans		The Board of Directors adopted the Trillion Energy International Inc. 2022 Long-Term Incentive Equity Plan (the “2022 Plan”) effective as of December 1, 2022.

Summary of Changes in Warrants

Summary of Changes in Warrants (Details)			12 Months Ended
	Apr. 20, 2023 shares $ / shares	Apr. 20, 2023 shares $ / shares	Dec. 31, 2023 shares $ / shares	Dec. 31, 2022 shares $ / shares	Dec. 31, 2022 shares $ / shares
IfrsStatementLineItems [Line Items]
Warrants, Issued	333	333
Weighted Average Exercise Price, Issued | (per share)	$ 1.86	$ 2.50		$ 1.20	$ 1.55
Warrants [member]
IfrsStatementLineItems [Line Items]
Number of purchase share outstanding, Beginning of the period			20,387,538	1,568,866	1,568,866
Weighted Average Exercise Price, Outstanding, Beginning Balance | $ / shares			$ 2.33	$ 0.63
Warrants, Issued			7,402,726	21,011,038	21,011,038
Weighted Average Exercise Price, Issued | $ / shares			$ 1.88	$ 2.31
Warrants, Excercised				(2,185,366)	(2,185,366)
Weighted Average Exercise Price, Exercised | $ / shares				$ 0.87
Warrants, Expired			(10,000)	(7,000)	(7,000)
Weighted Average Exercise Price, Expired | $ / shares			$ 2.17	$ 0.50
Number of purchase share outstanding, Ending of the period			27,780,264	20,387,538	20,387,538
Weighted Average Exercise Price, Outstanding, Ending Balance | $ / shares			$ 2.21	$ 2.33

Schedule of Purchase Warrants O

Schedule of Purchase Warrants Outstanding (Details)	12 Months Ended
	Dec. 31, 2023 $ / shares shares
Warrant one [member]
IfrsStatementLineItems [Line Items]
Number of warrants outstanding	4,341,088
Compensation warrants, exercise price | $ / shares	$ 2.25
Expiry date	Mar. 15, 2024
Warrant two [member]
IfrsStatementLineItems [Line Items]
Number of warrants outstanding	676,788
Compensation warrants, exercise price | $ / shares	$ 2.25
Expiry date	Mar. 16, 2024
Warrant three [member]
IfrsStatementLineItems [Line Items]
Number of warrants outstanding	590,909
Compensation warrants, exercise price | $ / shares	$ 2.25
Expiry date	Mar. 17, 2024
Warrant four [member]
IfrsStatementLineItems [Line Items]
Number of warrants outstanding	2,122,825
Compensation warrants, exercise price | $ / shares	$ 2.25
Expiry date	Mar. 18, 2024
Warrant five [member]
IfrsStatementLineItems [Line Items]
Number of warrants outstanding	4,286,351
Compensation warrants, exercise price | $ / shares	$ 2.25
Expiry date	Mar. 24, 2024
Warrant six [member]
IfrsStatementLineItems [Line Items]
Number of warrants outstanding	530,600
Compensation warrants, exercise price | $ / shares	$ 2.25
Expiry date	Mar. 28, 2024
Warrant seven [member]
IfrsStatementLineItems [Line Items]
Number of warrants outstanding	12,529,690
Compensation warrants, exercise price | $ / shares	$ 2.50
Expiry date	Jun. 29, 2025
Warrant eight [member]
IfrsStatementLineItems [Line Items]
Number of warrants outstanding	300,288
Compensation warrants, exercise price | $ / shares	$ 1.55
Expiry date	Jun. 29, 2025
Warrant nine [Member]
IfrsStatementLineItems [Line Items]
Number of warrants outstanding	300,000
Compensation warrants, exercise price | $ / shares	$ 2.50
Expiry date	Apr. 20, 2025
Warrant ten [Member]
IfrsStatementLineItems [Line Items]
Number of warrants outstanding	2,101,726
Compensation warrants, exercise price | $ / shares	$ 0.30
Expiry date	Nov. 28, 2025
Warrants [member]
IfrsStatementLineItems [Line Items]
Number of warrants outstanding	27,780,265

Schedule of Warrant Derivative

Schedule of Warrant Derivative Liability (Details) - Warrants [member] - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
IfrsStatementLineItems [Line Items]
Beginning of the period	$ 4,827	$ 472,899
Effect of change in functional currency		(309,006)
Exercise of warrants		(822,950)
Change in fair value of derivative	(4,827)	686,504
Foreign exchange difference		(22,620)
End of the period		$ 4,827

Schedule of Weighted Average As

Schedule of Weighted Average Assumption for Warrants (Details) - Warrants [member]		12 Months Ended
	Apr. 20, 2023	Dec. 31, 2023	Dec. 31, 2022
IfrsStatementLineItems [Line Items]
Risk free interest rate	3.77%
Expected life		2 years
Expected volatility	100.96%
Expected dividend yield	0%	0%	0%
Bottom of range [member]
IfrsStatementLineItems [Line Items]
Risk free interest rate		3.77%	1.21%
Expected life			2 years
Expected volatility		101%	154%
Top of range [member]
IfrsStatementLineItems [Line Items]
Risk free interest rate		4.43%	3.13%
Expected life			3 years
Expected volatility		104%	182%

Warrants (Details Narrative)

Warrants (Details Narrative) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Apr. 20, 2023
IfrsStatementLineItems [Line Items]
Weighted average remaining contractual life of outstanding share options	1 year 3 months 3 days	2 years 1 month 2 days
Fair value of warrants
Losses on change in fair value of derivatives	$ 4,827	$ 686,504
Warrants [member]
IfrsStatementLineItems [Line Items]
Weighted average remaining contractual life of outstanding share options	11 months 12 days	1 year 8 months 15 days
Fair value of warrants			$ 216,777

Schedule of Restricted Stock Un

Schedule of Restricted Stock Units (Details)								12 Months Ended
	Dec. 31, 2023 shares $ / shares	Sep. 17, 2023 shares	Sep. 15, 2023 shares	Sep. 02, 2023 shares	Jul. 06, 2023 shares	May 11, 2023 shares	Jan. 01, 2023 shares $ / shares	Dec. 31, 2023 shares $ / shares	Dec. 31, 2022 shares	Dec. 31, 2022 $ / shares	Dec. 31, 2022 $ / shares
IfrsStatementLineItems [Line Items]
Number of options outstanding, Ending Balance | shares							2,300,000	2,300,000	1,528,000
Weighted average exercise price, Ending Balance | $ / shares							$ 1.27	$ 1.27		$ 0.79
Number of restricted stock units, Granted									1,442,000	0.22	0.30
Weighted average fair value per award, Granted | $ / shares										$ 1.86
Number of restricted stock units, Vested | shares								1,620,000
Number of options outstanding, Ending Balance | shares	1,620,000							1,620,000	2,300,000
Weighted average exercise price, Ending Balance | $ / shares	$ 1.24							$ 1.24		1.27
Restricted Stock Units (RSUs) [Member]
IfrsStatementLineItems [Line Items]
Number of options outstanding, Ending Balance | shares
Weighted average exercise price, Ending Balance | $ / shares
Number of restricted stock units, Granted | shares								3,476,659	885,012
Weighted average fair value per award, Granted | $ / shares								$ 0.81		1.10
Number of restricted stock units, Vested | shares	1,365,610	650,000	452,785	75,464	75,000	601,000	256,800	(3,446,659)	(885,012)
Weighted average fair value per award, Vested | $ / shares								$ 0.80		1.10
Number of restricted stock units, Canceled | shares								(30,000)
Weighted average fair value per award, Canceled | $ / shares								$ 2
Number of options outstanding, Ending Balance | shares
Weighted average exercise price, Ending Balance | $ / shares

Restricted Stock Units (Details

Restricted Stock Units (Details Narrative)								12 Months Ended
	Dec. 31, 2023 USD ($) shares	Sep. 17, 2023 shares	Sep. 15, 2023 shares	Sep. 02, 2023 shares	Jul. 06, 2023 shares	May 11, 2023 shares	Jan. 01, 2023 shares	Dec. 31, 2023 USD ($) shares	Dec. 31, 2022 USD ($) shares
IfrsStatementLineItems [Line Items]
Number of options vested | shares								1,620,000
Obligaton	$ 73,346							$ 73,346
Repurchase value								$ (315,253)	$ (136,928)
Issuance of shares obligation | shares	283,094							283,094
Issuance of private placement shares | shares	1,518,010							1,518,010	675,012
Restricted Stock Units (RSUs) [Member]
IfrsStatementLineItems [Line Items]
Number of options vested | shares	1,365,610	650,000	452,785	75,464	75,000	601,000	256,800	(3,446,659)	(885,012)
Stock based compensation expenses								$ 2,279,059	$ 697,650
Obligaton	$ 18,398							$ 18,398	$ 295,747
Repurchased RSU's shares | shares								667,868
Repurchase fair value								$ 993,136
Reduction equity								919,790
Repurchase value								$ 604,537
Issuance of shares obligation accrual | shares								1,365,610

Schedule of General and Adminis

Schedule of General and Administrative Expense (Details) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Notes and other explanatory information [abstract]
Salaries and compensation	$ 5,633,959	$ 4,386,716
Professional fees	820,047	552,975
Investor relations	236,441	592,155
Office	230,472	119,999
Advertising	123,293	519,321
Filing and transfer fees	111,987	96,701
Travel	114,335	87,285
Penalties	19,763	30,208
Bank charges and other	4,675	12,140
General and Administrative	$ 7,294,972	$ 6,397,500	$ 3,162,934

Schedule of Geographical Segmen

Schedule of Geographical Segment Information (Details) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Year ended December 31
Revenue	$ 16,797,366	$ 9,375,029
Finance cost	2,249,055	79,693	$ 302,413
Depletion	5,119,174	1,451,032	415,686
Depreciation	175,764	145,035	31,768
Accretion of asset retirement obligation	219,536	264,075	91,983
Stock-based compensation	2,397,261	2,118,917	336,366
Gain on debt extinguishment	8,500	97,051
Loss on impairment of assets held for sale	1,556,787
Gain on net monetary position	18,984,099	1,826,495
Net income (loss)	(1,102,194)	(6,121,754)	(4,893,126)
As at December 31
Non-current assets	53,745,774	30,791,521
Impairment of exploration and evaluation assets		3,101,343
CANADA
Year ended December 31
Revenue
Finance cost	2,202,324	79,693
Depletion
Depreciation	8,497	4,826
Accretion of asset retirement obligation
Stock-based compensation	2,397,261	2,118,917
Gain on debt extinguishment	8,500	97,051
Loss on impairment of assets held for sale
Gain on net monetary position
Net income (loss)	(8,958,570)	(6,684,988)
As at December 31
Non-current assets	35,021	42,781
Impairment of exploration and evaluation assets
TÃœRKIYE
Year ended December 31
Revenue	16,797,366	9,375,029
Finance cost	46,731
Depletion	5,119,174	1,451,032
Depreciation	167,267	140,209
Accretion of asset retirement obligation	219,536	264,075
Stock-based compensation
Gain on debt extinguishment
Loss on impairment of assets held for sale	1,556,787
Gain on net monetary position	18,984,099	1,826,495
Net income (loss)	7,861,094	3,577,954
As at December 31
Non-current assets	53,710,753	30,748,740
Impairment of exploration and evaluation assets
BULGARIA
Year ended December 31
Revenue
Finance cost
Depletion
Depreciation
Accretion of asset retirement obligation
Stock-based compensation
Gain on debt extinguishment
Loss on impairment of assets held for sale
Gain on net monetary position
Net income (loss)	(4,718)	(3,014,720)
As at December 31
Non-current assets
Impairment of exploration and evaluation assets		$ 3,101,343

Schedule of Net Revenue By Prod

Schedule of Net Revenue By Product Segment (Details) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
IfrsStatementLineItems [Line Items]
Oil and gas revenue, net	$ 16,797,366	$ 9,375,029	$ 3,700,727
Oil [Member]
IfrsStatementLineItems [Line Items]
Oil and gas revenue, net	3,055,800	4,087,664
Gas [Member]
IfrsStatementLineItems [Line Items]
Oil and gas revenue, net	$ 13,741,566	$ 5,287,365

Related Party Transactions (Det

Related Party Transactions (Details Narrative)															12 Months Ended
	Dec. 31, 2023 USD ($) shares	Sep. 17, 2023 shares	Sep. 15, 2023 shares	Sep. 02, 2023 shares	Jul. 06, 2023 shares	May 11, 2023 shares	Apr. 20, 2023 USD ($)	Mar. 31, 2023 USD ($)	Jan. 31, 2023 USD ($)	Jan. 01, 2023 shares	Sep. 15, 2022 USD ($) shares	Aug. 18, 2022 USD ($) shares	Jul. 15, 2022 USD ($) shares	Sep. 02, 2020 USD ($) shares	Dec. 31, 2023 USD ($) shares	Dec. 31, 2023 CAD ($) shares	Dec. 31, 2022 USD ($) shares	Dec. 31, 2022 USD ($) shares	Dec. 31, 2022 USD ($) $ / shares shares	Dec. 31, 2022 USD ($) $ / shares shares	Dec. 31, 2021 USD ($)	Dec. 31, 2023 CAD ($) shares	Nov. 28, 2023 shares	Jul. 31, 2023	Apr. 20, 2023 CAD ($)	Jun. 29, 2022 shares
IfrsStatementLineItems [Line Items]
Due to related parties	$ 115,526														$ 115,526		$ 210,070	$ 210,070	$ 210,070	$ 210,070
Management fees															924,083		711,766
Director fees															820,047		552,975
Consulting fees															52,313
Stock based compensation															$ 118,202		1,421,267
Common stock, shares | shares	80,000														80,000							80,000
Trade and other payables	$ 115,304														$ 115,304
Settle of debt															$ 2,957
Number of Options Vested | shares															1,620,000	1,620,000
Notes receivables	113,309						$ 742								$ 113,309		1,062,062	1,062,062	1,062,062	1,062,062	$ 1,193,641				$ 1,000
Notes payable	$ 3,464,450														$ 3,464,450		166,555	$ 166,555	$ 166,555	$ 166,555
Interest rate	35%						12%								35%							35%		5%	12%
Maturity date							April 30, 2025
Exercise price of warrant																		1,442,000	0.22	0.30
Number of shares reserves																	14,189	$ 14,189	$ 14,189	$ 14,189
Restricted stock unit obligation liability	$ 18,398														$ 18,398		295,747	$ 295,747	295,747	295,747
Proceeds from stock plans															542,864		571,066				$ 191,032
Cash bonus															5,633,959		4,386,716
Shares issued for RSUs															$ 315,796		103,582
Settlement of amount in notes receivables																	49,800
Loss on Settlement																	285,120
Issued capital [member]
IfrsStatementLineItems [Line Items]
Common stock, shares | shares																							36,057,934			14,507,380
Restricted Stock Units (RSUs) [Member]
IfrsStatementLineItems [Line Items]
Stock based compensation																	255,206
Common stock, shares | shares	400,000														400,000							400,000
Reduction to equity	$ 260,681														$ 260,681
Number of Options Vested | shares	1,365,610	650,000	452,785	75,464	75,000	601,000				256,800					(3,446,659)	(3,446,659)		(885,012)
Exercise price of warrant | shares															3,476,659	3,476,659		885,012
Number of shares reserves																	65,160	$ 65,160	65,160	65,160
Restricted stock unit obligation liability																	190,047	190,047	190,047	190,047
Related parties [member]
IfrsStatementLineItems [Line Items]
Stock based compensation															$ 1,294,051		926,119
Trade and other payables	$ 260,681														260,681
Settle of debt															118,261	$ 160,000
Notes receivables																	450,325	450,325	450,325	450,325
Receivable interest rate	5%														5%							5%
Notes payable	$ 420,281														$ 420,281							$ 402,115
Maturity date															December 31, 2024	December 31, 2024
Related parties [member] | Restricted Stock Units (RSUs) [Member]
IfrsStatementLineItems [Line Items]
Exercise price of warrant | shares																		40,000
Related parties [member] | Restricted Stock Units (RSUs) [Member] | Issued capital [member]
IfrsStatementLineItems [Line Items]
Number of Options Vested | shares															50,000	50,000
Officer [Member]
IfrsStatementLineItems [Line Items]
Interest rate	6%														6%							6%
Director [Member]
IfrsStatementLineItems [Line Items]
Number of shares issued , value																	$ 19,077	$ 19,077	$ 19,077	$ 19,077
Director [Member] | Restricted Stock Units (RSUs) [Member]
IfrsStatementLineItems [Line Items]
Common stock, shares | shares																	80,000	80,000	80,000	80,000
Chief Executive Officer [Member]
IfrsStatementLineItems [Line Items]
Restricted stock units																	$ 197,212
Chief Executive Officer [Member] | Restricted Stock Units (RSUs) [Member]
IfrsStatementLineItems [Line Items]
Exercise price of warrant | shares														50,000
Restricted stock unit obligation liability																	98,606	$ 98,606	$ 98,606	$ 98,606
Proceeds from stock plans														$ 5,000,000
Stock based compensation																	295,818
Chief Executive Officer [Member] | Restricted Stock Units (RSUs) [Member] | Bottom of range [member]
IfrsStatementLineItems [Line Items]
Proceeds from stock plans														25,000
Chief Executive Officer [Member] | Restricted Stock Units (RSUs) [Member] | Top of range [member]
IfrsStatementLineItems [Line Items]
Proceeds from stock plans														$ 5,000,000
Chief Executive Officer [Member] | Restricted Stock Units (RSUs) [Member] | Issued capital [member]
IfrsStatementLineItems [Line Items]
Number of Options Vested | shares											50,000			20,000
Cash bonus											$ 100,000
Chief Financial Officer [Member] | Restricted Stock Units (RSUs) [Member]
IfrsStatementLineItems [Line Items]
Common stock, shares | shares												65,000
Value of stock issued for obligation															$ 94,300
Cash payments												$ 210,000
Auditors remuneration															$ 21,762
Chief Financial Officer [Member] | Restricted Stock Units (RSUs) [Member] | Major ordinary share transactions [member]
IfrsStatementLineItems [Line Items]
Cash payments								$ 50,000	$ 50,000
Chief Financial Officer [Member] | Restricted Stock Units (RSUs) [Member] | Sasb phase b [member]
IfrsStatementLineItems [Line Items]
Number of Options Vested | shares													25,000
Chief Financial Officer [Member] | Restricted Stock Units (RSUs) [Member] | Bottom of range [member]
IfrsStatementLineItems [Line Items]
Cash payments												$ 110,000
Chief Financial Officer [Member] | Restricted Stock Units (RSUs) [Member] | Bottom of range [member] | Sasb phase b [member]
IfrsStatementLineItems [Line Items]
Cash bonus													$ 5,000,000
Chief Financial Officer [Member] | Restricted Stock Units (RSUs) [Member] | Issued capital [member]
IfrsStatementLineItems [Line Items]
Common stock, shares | shares	40,000														40,000							40,000
Number of Options Vested | shares															15,000	15,000
Value of stock issued for obligation															$ 32,635
Chief Financial Officer [Member] | Restricted Stock Units (RSUs) [Member] | Issued capital [member] | Bottom of range [member]
IfrsStatementLineItems [Line Items]
Number of Options Vested | shares													20,000
Chief Financial Officer [Member] | Restricted stock units first anniversary agreement [member] | Issued capital [member]
IfrsStatementLineItems [Line Items]
Number of Options Vested | shares													20,000
Shares issued for RSUs, shares | shares															20,000	20,000
Chief Financial Officer [Member] | Restricted stock units second anniversary agreement [member] | Sasb phase b [member]
IfrsStatementLineItems [Line Items]
Cash bonus													$ 20,000
Chief Financial Officer [Member] | Restricted stock units second anniversary agreement [member] | Issued capital [member]
IfrsStatementLineItems [Line Items]
Number of Options Vested | shares													30,000
Chief Financial Officer [Member] | Restricted stock units second anniversary agreement [member] | Issued capital [member] | Bottom of range [member]
IfrsStatementLineItems [Line Items]
Cash bonus													$ 15,000
Chief Financial Officer [Member] | Sasb phase a [member] | Sasb phase b [member]
IfrsStatementLineItems [Line Items]
Cash bonus													$ 25,000
Chief Operating Officer [Member] | Restricted Stock Units (RSUs) [Member] | Bottom of range [member] | Sasb phase b [member]
IfrsStatementLineItems [Line Items]
Number of Options Vested | shares													25,000
Chief Operating Officer [Member] | Restricted Stock Units (RSUs) [Member] | Issued capital [member] | Bottom of range [member]
IfrsStatementLineItems [Line Items]
Number of Options Vested | shares													20,000
Chief Operating Officer [Member] | Restricted stock units first anniversary agreement [member] | Issued capital [member]
IfrsStatementLineItems [Line Items]
Number of Options Vested | shares													25,000
Shares issued for RSUs, shares | shares															25,000	25,000
Shares issued for RSUs															$ 33,111
Chief Operating Officer [Member] | Restricted stock units second anniversary agreement [member] | Sasb phase b [member]
IfrsStatementLineItems [Line Items]
Cash bonus													$ 20,000
Chief Operating Officer [Member] | Restricted stock units second anniversary agreement [member] | Issued capital [member]
IfrsStatementLineItems [Line Items]
Number of Options Vested | shares													30,000
Chief Operating Officer [Member] | Restricted stock units second anniversary agreement [member] | Issued capital [member] | Bottom of range [member]
IfrsStatementLineItems [Line Items]
Cash bonus													$ 15,000
Director fees [member]
IfrsStatementLineItems [Line Items]
Director fees															$ 145,500		92,000
Directors [member]
IfrsStatementLineItems [Line Items]
Stock based compensation																	21,283
Common stock, shares | shares	808,680														808,680							808,680
Exercise price of warrant | shares																		12,000
Restricted stock unit obligation liability																	$ 7,094	$ 7,094	$ 7,094	$ 7,094
Directors [member] | Restricted Stock Units (RSUs) [Member] | Issued capital [member]
IfrsStatementLineItems [Line Items]
Reduction to equity	$ 799,212														$ 799,212
Number of Options Vested | shares															586,868	586,868
Reduction to equity															$ 473,331

Segmented Information (Details

Segmented Information (Details Narrative) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Notes and other explanatory information [abstract]
Royalties percent	12.50%
Royalties paid	$ 1,163,498	$ 2,242,613

Summary of Maturity Profile of

Summary of Maturity Profile of the Contractual Cash Flow (Details) - USD ($)	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
IfrsStatementLineItems [Line Items]
Accounts payable and accrued liabilities	$ 14,065,019	$ 10,600,080
Total loans payable	3,464,450	166,555
Lease liability	141,695	8,609	$ 15,324
Total liabilities	36,397,856	16,392,288
Contractual liablities [member]
IfrsStatementLineItems [Line Items]
Accounts payable and accrued liabilities	14,065,019	10,600,080
Total loans payable	3,464,450	166,555
Lease liability	236,491	9,614
RSU obligation	18,398	295,747
Convertible debt	13,349,887
Derivative liability		4,827
Total liabilities	31,134,245	11,076,823
Contractual liablities [member] | Not later than one year [member]
IfrsStatementLineItems [Line Items]
Accounts payable and accrued liabilities	14,065,019	10,600,080
Total loans payable	3,464,450	145,866
Lease liability	58,919	4,807
RSU obligation	18,398	295,747
Convertible debt	1,361,525
Derivative liability
Total liabilities	18,968,311	11,046,500
Contractual liablities [member] | Later than one year and not later than two years [member]
IfrsStatementLineItems [Line Items]
Accounts payable and accrued liabilities
Total loans payable		20,689
Lease liability	116,651	4,807
RSU obligation
Convertible debt	11,988,362
Derivative liability		4,827
Total liabilities	12,105,013	30,323
Contractual liablities [member] | Later than two years [member]
IfrsStatementLineItems [Line Items]
Accounts payable and accrued liabilities
Total loans payable
Lease liability	60,921
RSU obligation
Convertible debt
Derivative liability
Total liabilities	$ 60,921

Financial Instruments and Ris_3

Financial Instruments and Risk Management (Details Narrative)	12 Months Ended
	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)
Financial Instruments And Risk Management
Average foreign exchange rate	10
Net foreign exchange loss	$ 954,252	$ 30,435
Maximum credit exposure	$ 2,848,457	$ 5,263,886

Schedule of Reconciliation of C

Schedule of Reconciliation of Current Income Taxes (Details) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Notes and other explanatory information [abstract]
Net income (loss) before income taxes	$ 758,132	$ (6,121,754)
Effective tax rate	27%	27%
Expected income tax recovery	$ 204,696	$ (1,652,874)
Change in statutory, foreign tax, foreign exchange rates, and other	(204,794)	238,194
Permanent differences	1,335,140	649,306
Adjustment to prior years provision versus statutory tax returns and expiry of non-capital losses	249,576
Change in unrecognized deductible temporary differences	275,708	765,374
Total	$ 1,860,326

Schedule of Deferred Tax Assets

Schedule of Deferred Tax Assets and Liabilities (Details) - USD ($)	Dec. 31, 2023	Dec. 31, 2022
Notes and other explanatory information [abstract]
Exploration and evaluation assets	$ (9,990,074)	$ (1,426,133)
Property and equipment	(60,011)
Convertible debt	(327,305)
Assets held for sale	311,357
Asset retirement obligation	1,249,406
Non-capital losses	6,685,079	1,426,133
Net deferred tax assets (liabilities)	$ (2,131,548)

Schedule of Deductible Temporar

Schedule of Deductible Temporary Differences and Unused Tax Losses (Details) - Unused tax losses [member] - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
TÃœRKIYE
IfrsStatementLineItems [Line Items]
Deductible temporary differences and unused tax losses, expiry		2024 to 2027
Share issue costs [member]
IfrsStatementLineItems [Line Items]
Deductible temporary differences and unused tax losses	$ 2,782,651	$ 2,119,858
Deductible temporary differences and unused tax losses, expiry	2027	2027
Property, plant and equipment [member]
IfrsStatementLineItems [Line Items]
Deductible temporary differences and unused tax losses	$ 16,101	$ 153,117
Asset Retirement Obligation [Member]
IfrsStatementLineItems [Line Items]
Deductible temporary differences and unused tax losses		5,718,041
Noncapital losses [member]
IfrsStatementLineItems [Line Items]
Deductible temporary differences and unused tax losses	24,377,533	$ 28,385,944
Noncapital losses [member] | CANADA
IfrsStatementLineItems [Line Items]
Deductible temporary differences and unused tax losses	$ 10,360,380
Deductible temporary differences and unused tax losses, expiry	2042 to 2043	2042
Noncapital losses [member] | CANADA | Canada [Member]
IfrsStatementLineItems [Line Items]
Deductible temporary differences and unused tax losses		$ 3,995,237
Noncapital losses [member] | UNITED STATES
IfrsStatementLineItems [Line Items]
Deductible temporary differences and unused tax losses	$ 4,228,651	$ 16,533,694
Deductible temporary differences and unused tax losses, expiry	indefinite	indefinite
Noncapital losses [member] | TÃœRKIYE
IfrsStatementLineItems [Line Items]
Deductible temporary differences and unused tax losses		$ 723,950
Noncapital losses [member] | BULGARIA
IfrsStatementLineItems [Line Items]
Deductible temporary differences and unused tax losses	$ 3,443	$ 2,401
Deductible temporary differences and unused tax losses, expiry	2028	2027
Noncapital losses without expiration [member] | UNITED STATES
IfrsStatementLineItems [Line Items]
Deductible temporary differences and unused tax losses	$ 9,785,059
Deductible temporary differences and unused tax losses, expiry	2028 to 2037

Commitments and Contingencies (

Commitments and Contingencies (Details Narrative) - USD ($)		12 Months Ended
	Apr. 20, 2023	Dec. 31, 2023	Dec. 31, 2022
IfrsStatementLineItems [Line Items]
Natural gas revenue deposit percentage		10%
Total loans payable		$ 3,464,450	$ 166,555
Loan, maturity date	April 30, 2025
TR1 master fund loans [member]
IfrsStatementLineItems [Line Items]
Total loans payable		$ 2,822,250
Loan, maturity date		December 31, 2023
Legal proceedings contingent liability [member] | Offshore Drilling Rig Contractor [Member]
IfrsStatementLineItems [Line Items]
Arbitration damages sought, value		$ 20,300,000
Legal proceedings contingent liability [member] | Offshore Drilling Rig Contractor [Member] | Europe [Member]
IfrsStatementLineItems [Line Items]
Arbitration damages sought, value		5,000,000
Legal proceedings contingent liability [member] | Offshore Drilling Rig Contractor [Member] | Europe [Member] | Accounts payables and accrued liabilities [member]
IfrsStatementLineItems [Line Items]
Arbitration damages sought, value		$ 3,000,000

Subsequent Events (Details Narr

Subsequent Events (Details Narrative)					4 Months Ended	12 Months Ended
	Oct. 02, 2024 shares	Jul. 02, 2024 shares	Apr. 02, 2024 shares	Jan. 02, 2024 shares $ / shares	Apr. 29, 2024 CAD ($) shares	Dec. 31, 2022 shares	Dec. 31, 2022 $ / shares	Dec. 31, 2022 $ / shares
IfrsStatementLineItems [Line Items]
Exercise price of warrant						1,442,000	0.22	0.30
Stock options granted, exercise price | $ / shares							$ 1.86
Nonadjusting event [member]
IfrsStatementLineItems [Line Items]
Number of shares issued settle RSUs owed and other obligations					2,178,957
Number of shares issued settle outstanding debt					4,486,250
Number of shares issued settle debt and signing bonus					673,375
Number of shares issued settle debt and other obligations					640,950
Number of shares issued for debenture conversion					333
Convertible debentures principal converted | $					$ 1,000
Nonadjusting event [member] | Sandiego tory hills capital inc [member]
IfrsStatementLineItems [Line Items]
Exercise price of warrant				200,000
Stock options granted, exercise price | $ / shares				$ 0.30
Stock options granted, maturity date				January 2, 2027
Number of stock options vesting	50,000	50,000	50,000	50,000