Dune Oil Appoints Experienced International Engineering Advisors to Advance M47 Oil Well Re-Entry and Completion Programs

Dune Oil adds veteran advisors for technical planning on its 29% M47 block in Türkiye.

What the company is saying

Dune Oil Corp. (CSE:DUNE, OTCQB:DUNXF, FSE:Z621) has appointed Allan Albertson, P.Eng., and Dean Casorso, MBA, CET, as technical advisors to support planning and evaluation for potential well re-entry, completion, and production operations on the M47 oil exploration block in southeastern Türkiye. The announcement highlights the advisors’ international experience in petroleum engineering, drilling, completions, and oilfield operations, specifically referencing fractured carbonate reservoirs relevant to the M47 Block. The company frames the appointments as a step to address technical challenges encountered in the C-1 well, which was drilled in 2025 and encountered light crude oil with gravity of 32.4° API but faced significant lost circulation. The narrative emphasizes the advisors’ roles in reviewing well conditions, evaluating drilling and completion methods, and developing recommendations to manage operational risks and costs. Dune underscores its 29% working interest in the M47 block and positions this move as part of its broader exploration and development strategy. The tone is factual and focused on technical competence, with no exaggerated claims about imminent production or commercial outcomes.

What the data suggests

The company holds a 29% working interest in the M47 oil exploration block, which includes the C-1 and C-2 wells and is located in the Cudi-Gabar petroleum province of southeastern Türkiye. The C-1 well, drilled in 2025, encountered light crude oil with a gravity of 32.4° API, indicating a potentially attractive reservoir but also faced significant lost circulation, highlighting the technical complexity of naturally fractured carbonate formations. The appointment of Allan Albertson (34 years of international petroleum engineering experience, including Turkey and the Zagros Basin) and Dean Casorso (nearly 30 years in oil and gas, with operational roles in Canada, Southeast Asia, Egypt, India, and Kenya) brings substantial technical expertise to address these challenges. The advisors’ mandate is limited to technical evaluation and planning, with initial priorities including well re-entry planning, reservoir protection, production evaluation, and operational planning. No new operational milestones, production figures, or financial results are disclosed. The data supports that the company is still in the technical planning and evaluation phase, with no immediate commercial or production outcomes.

Analysis

The announcement is factual and proportionate, focusing on the appointment of two technical advisors to support planning and evaluation activities for the M47 oil exploration block in southeastern Türkiye. The only realised actions are the advisor appointments and the disclosure of prior technical results (C-1 well oil gravity, lost circulation issues). All forward-looking statements are limited to the advisors' intended support for technical evaluation and planning—there are no claims of imminent drilling, production, or commercial outcomes. No large capital outlay or immediate earnings impact is disclosed; the release only mentions preliminary cost estimates as a future step. The tone is positive but not promotional, and there is no narrative inflation or exaggerated claims about project outcomes. The data supports a routine operational update, with no evidence of overstatement.

Risk flags

• ●Operational risk is high due to the technical challenges of drilling and completing wells in naturally fractured carbonate formations, as evidenced by significant lost circulation encountered in the C-1 well. This complexity can lead to higher costs, delays, and uncertain reservoir deliverability.
• ●Execution risk remains, as the current stage is limited to technical evaluation and planning; there is no guarantee that the advisors’ recommendations will translate into successful well re-entries, completions, or commercial production.
• ●Disclosure risk exists because the announcement does not provide financial data, cost estimates, or a defined timeline for operational milestones, making it difficult for investors to assess the near-term impact or capital requirements.

Bottom line

Dune Oil’s appointment of two highly experienced technical advisors signals a methodical approach to tackling the complex geology and operational risks of the M47 block, where it holds a 29% working interest. The advisors’ backgrounds in international petroleum engineering and operations are relevant to the fractured carbonate challenges highlighted by the C-1 well’s drilling history. This move is a necessary technical step but does not yet represent a near-term catalyst for production or cash flow, as all activities remain in the evaluation and planning phase. Investors should recognize that while the technical team’s expertise is credible, the path to commercial value remains uncertain and contingent on future operational decisions and successful execution. The most important takeaway is that Dune is still at the technical planning stage, and tangible progress will depend on the outcomes of the advisors’ assessments and any subsequent field activity.

Announcement summary

(CSE:DUNE) (OTCQB:DUNXF) (FSE:Z621) Dune Oil Corp. (formerly Trillion Energy International Inc.) has appointed Allan Albertson, P.Eng., and Dean Casorso, MBA, CET, as technical advisors to support planning and evaluation of potential well re-entry, completion, and production operations on the Company's M47 oil exploration block in southeastern Türkiye. The advisors bring extensive international experience in petroleum engineering, drilling, well completions, reservoir evaluation, and oilfield operations, with specific relevance to fractured carbonate reservoirs on the M47 Block. The initial focus for the advisory team will be technical evaluation and planning of potential re-entry and completion programs for the Çetinkaya-1 (C-1) and Çetinkaya-2 (C-2) wells, including strategies to evaluate reservoir deliverability, water management, and potential commercial production. The C-1 well, drilled in 2025, encountered light crude oil with a gravity of 32.4° API, and previous drilling operations faced significant lost circulation, highlighting technical challenges in naturally fractured carbonate formations. The advisors will assist Dune in assessing well conditions, reviewing drilling and geological data, evaluating drilling and completion methods, and developing recommendations to preserve reservoir productivity while managing operational risks and costs. Initial technical priorities include well re-entry planning for C-1 and C-2, reservoir protection strategies, production evaluation, and operational planning including contractor evaluations and preliminary cost estimates. Allan Albertson has 34 years of international petroleum engineering and operational experience, including work in Turkey and the Zagros Basin, and has advised national oil companies, major E&P companies, junior operators, and oilfield service providers. Dean Casorso has nearly 30 years of oil and gas experience, is President of Fire Creek Resources Ltd., and has held senior roles in both public and private oil and gas companies, with operational experience in Southeast Asia, Egypt, India, Kenya, and Canada. The M47 Block is located in the Cudi-Gabar petroleum province of southeastern Türkiye and includes the C-1 well and additional exploration prospects. Dune Oil Corp. holds a 29% working interest in the M47 oil exploration block (C3 and C4 licences) in southeastern Türkiye.

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