What Dune Oil does

Dune Oil Corp. (formerly Trillion Energy International Inc.) is a publicly traded, Vancouver-domiciled oil exploration and development company that has signed a farm-in agreement to earn a 29% working interest in the 450 km² M47 Block in SE Türkiye's Cudi-Gabar petroleum province. Through the farm-in with operator Derkim Enerji (M47 JOC partner Güney Yıldızı Petrol A.Ş. holds the remaining interest), Dune Oil is funding a US$15 million, two-tranche work program spanning 2D seismic acquisition and two exploration wells across 2026–2027. The C-1 well drilled in 2025 confirmed a 32.4° API light oil discovery with 38 metres of net oil pay in the Cretaceous Mardin Group carbonate reservoir at favorable unit costs of approximately US$3.2–3.5 million per well — a fraction of equivalent Northern Iraq well costs.

Chapman Petroleum Engineering has independently certified 2C Contingent Resources of 27.6 MMbbl gross (24,186 MSTB net at the 29% WI), with an unrisked NPV-10 of US$733.5 million and a risked expected value of US$594.2 million at an 81% chance of development. The block is the only privately held oil license in the Cudi-Gabar province and sits ~12 km from the 1-billion-barrel OOIP Sehit Aybuke Yalcin field, where adjacent TPAO-operated fields have scaled from zero to 81,000 boe/d in under five years. Three additional drill-ready prospects (Fındık South Lead 1, South Lead 2, and Mid Lead 1) lie along the same south-dipping carbonate fairway, defining a multi-prospect exploration runway.

Dune Oil is pre-revenue: management divested legacy SASB natural gas and Cendere oil interests in 2026 to focus capital on M47, and first oil is targeted mid-2027. The company's customers are functionally institutional and retail investors reached through CSE (DUNE), OTCQB (TRLEF), and Frankfurt (Z62) listings, SEDAR+ filings, investor presentations, and conferences such as EnerCom Denver. The rebrand from Trillion Energy International Inc. to Dune Oil Corp. on July 29, 2026, a concurrent 5:1 share consolidation, and an April 2026 US$2M private placement all support the repositioning toward a single-asset, investor-relations-led oil exploration vehicle targeting southeastern Türkiye.

Name

Dune Oil

Legal name

Dune Oil Corp.

Website

https://duneoil.ca

Company type

Public

Founded year

2015

Operating status

Operating

Headcount range

11–50 employees

Short description

Dune Oil Corp. is a Vancouver-based, publicly traded oil exploration and development company earning a 29% working interest in the M47 Block in SE Türkiye's Cudi-Gabar petroleum province. It targets institutional and retail investors via CSE/OTC/FSE listings to fund seismic and drilling on a confirmed 32.4° API light oil discovery.

Ownership category

akta.pro rank

Product category

Upstream Oil & Gas Exploration

NAICS

Crude Petroleum Extraction (21112), Oil and Gas Extraction (2111), Drilling Oil and Gas Wells (213111)

SIC

Crude Petroleum & Natural Gas (1311), Oil & Gas Field Exploration Services (1382), Drilling Oil & Gas Wells (1381)

akta.pro primary industry

Exploration & Prospecting (Geology, Geophysics, Seismic) (EUALAAAA)

akta.pro secondary industries

Seismic & Geoscience Services (Acquisition, Processing, Interpretation) (EUALABAK), Mineral Rights, Leasing & Land Management (EUALAAAB)

Keywords

• Oil exploration
• Upstream oil and gas
• Working interests
• Petroleum block development
• Oil exploration and development

Headquarters

HQ city

Vancouver

HQ country

Canada

HQ region

North America

Offices3 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Operations, Technology or R&D, Personnel, Marketing or Sales, Supply Chain

Revenue model

1. Oil and Gas Production Revenue (M47 Block): Currently pre-revenue as the M47 Block is in the exploration and appraisal phase. The company has earned a 29% working interest in the M47 Block subject to fulfilling earn-in obligations (US$15 million across 2026–2027). Once commercial production is established (targeting first oil mid-2027), the company will generate revenue from oil sales at realized prices based on Brent spot plus a US$2.33/STB property-specific premium. Revenue model is conventional oil production — volume-based with operating costs estimated at US$8.00/STB average, subject to a 12.5% government royalty on the North Prospect.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels6 records

Core offering

Dune Oil is a publicly traded oil exploration and development company that holds a 29% working interest in the M47 Block in the Cudi-Gabar petroleum province of SE Türkiye. The company funds exploration activities through farm-in agreements and equity/debt financings, with future revenue from oil production (first oil targeted mid-2027). The asset includes the confirmed Çetinkaya-1 light oil discovery (32.4° API) in Cretaceous carbonate reservoirs with independently evaluated 2C Contingent Resources of 27.6 MMbbl.

Product overview

Dune Oil is an investor-focused oil exploration and development company incorporated in Canada with operations in SE Türkiye. The company's core asset is its 29% working interest in the M47 Oil Exploration Block in the Cudi-Gabar petroleum province, which contains the confirmed Çetinkaya light oil discovery. The portfolio includes a structured work program covering seismic acquisition and exploration drilling phases, supported by an independent NI 51-101 resource evaluation from Chapman Petroleum Engineering confirming 2C contingent resources of 27.6 MMbbl.

Differentiator

Problem solved

Functional benefit

Products and services

• M47 Oil Exploration Block
• Çetinkaya-1 (C-1) Light Oil Discovery

Quantifiable outcome

• 2C Contingent Resources: 27.6 MMbbl gross / 24,186 MSTB net at 29% WI; unrisked NPV-10: US$733.5M; risked expected value: US$594.2M at 81% chance of development
• +2 more outcomes

Segments1 record

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Three partnerships are on record, tiered core.

• Chapman Petroleum Engineering Ltd.coreStrategic or Co-development Partner · 1 January 2026Chapman Petroleum Engineering Ltd. of Calgary, Alberta, completed an independent resource evaluation of Block M47C3, C4 effective 31 December 2025 (also reported effective March 31 2026), prepared in accordance with NI 51-101 and COGEH. The evaluation assigned 2C Contingent Resources of 27.6 MMbbl net to Dune Oil's 29% WI, with unrisked NPV-10 of US$733.5M.
• Derkim Enerji (Derkim Petrolüm)coreStrategic or Co-development Partner · 1 January 2023Derkim Enerji is the operator of the M47 Concession (C3 and C4 licenses) under a Joint Operating Agreement. Dune Oil earns its 29% working interest through a farm-in agreement with Derkim Petrolüm, funding a US$15 million work program (US$9.5M in 2026, US$5.5M in 2027). Derkim Enerji holds operatorship and Dune Oil funds 80% of seismic and drilling costs during the earn-in phase.
• Güney Yıldızı Petrol A.ŞcoreStrategic or Co-development Partner · 1 January 2023Güney Yıldızı Petrol A.Ş holds a 20% working interest in the M47 Joint Operating Agreement alongside Dune Oil (29%) and Derkim Enerji as operator. The JOC partners bear costs proportional to working interest post earn-in. The joint operating committee (Derkim Enerji as operator, Dune Oil 29% WI, Güney Yıldızı Petrol A.Ş 20% WI) must approve formal development plans.

Scale indicators10 records

Recent moves6 records

Expansion highlights4 records

Regional players

• Valeura Energy Inc. TSX-listed (VLE) Türkiye-focused upstream oil & gas producer operating in the Thrace Basin. Most comparable regional peer given shared Türkiye operating jurisdiction, similar junior/small-cap profile, and overlapping GTM toward energy-specialist investors.
• Genel Energy plc: Mid-cap E&P with producing assets in the Kurdistan Region of Iraq and a history of Türkiye-adjacent operations. Comparable as a regional Middle East E&P pursuing light oil development in politically sensitive but high-potential basins.

Direct peers

• Predator Oil & Gas Holdings plc: AIM-listed (LON: PRD) small-cap E&P focused on appraisal-stage and development oil/gas assets. Comparable single-asset, exploration/appraisal-stage profile targeting investor returns through resource de-risking.
• Challenger Energy Group plc: AIM-listed (LON: CEG) small-cap E&P with focus on a single offshore exploration/appraisal asset (Uruguay). Comparable single-asset, exploration-led, small-cap profile with similar reliance on drilling catalysts to unlock value.
• Canadian Overseas Petroleum Limited: Canadian-listed (CSE: XOP) junior E&P with focused upstream assets. Similar small-cap, single-asset, exploration-to-development transition profile to Dune Oil, with comparable dependence on equity markets for funding.
• Tower Resources plc: AIM-listed (LON: TRP) small-cap E&P pursuing exploration/appraisal assets in Africa. Comparable single-asset, small-market-cap, drilling-catalyst-driven profile targeting resource re-rating through successful wells.
• Eco (Atlantic) Oil & Gas plc: AIM/TSX-listed (EOG) small-cap E&P focused on offshore exploration upstream of proven plays. Comparable single-jurisdiction, exploration-stage, small-market-cap profile with similar reliance on drilling success for valuation re-rating.
• SDX Energy plc: MENA-focused (Egypt/Morocco) small-cap E&P historically operating in North Africa. Comparable small-cap, multi-jurisdiction upstream profile and investor base focused on resource catalysts in emerging markets.
• Afentra plc: AIM-listed (AET) small-cap E&P focused on upstream oil opportunities in Angola. Comparable single-region, exploration-to-development small-cap profile with similar reliance on farm-in/partner structures.
• 88 Energy plc: AIM-listed (88E) junior E&P focused on appraisal-stage oil and unconventional resource opportunities. Comparable single-asset, exploration/appraisal-stage, small-cap profile with similar drilling-and-dilutive-financing cycle dynamics.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks7 records

Key highlights7 records

Customer concentration

• Xx.com/DuneOil
• Facebookfacebook.com/duneoilcorp
• LinkedInlinkedin.com/company/trillion-energy-international-inc
• Instagraminstagram.com/duneoil

Revenue estimate

Valuation estimate

Number of profiles

Profiles6 records

Funding overview

Funding rounds6 records

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Dune Oil