Trans Canada Gold Corp. Completes Its Eleventh Full Month of Steady Oil Production for August 2024
And Completes Drilling of Its Second Multilateral Well Targeting the GP Oil ReservoirVANCOUVER, September 12, 2024 - Trans Canada Gold Corp. (TSX-V:TTG)(OTCQB:TTGXF) ("Trans Canada" or the "Company") is pleased to announce that the Company has now completed its eleventh full month of robust, steady oil production for the month of August 2024, with trucking and oil sales to Altex. The Company will release the August numbers in the coming days, once finalized. In October 2023, the Company successfully drilled and completed all multilateral legs of the Company's first multilateral well in the Sparky reservoir. Since drilling inception, the Croverro 7HZ Well has now produced over 60,000 barrels of consistent steady oil production.
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Eleventh Month of Steady Oil Production: Trans Canada Gold Corp. has completed its eleventh consecutive month of steady oil production for August 2024, with sales to Altex. Since the drilling of its first multilateral well in the Sparky reservoir, the Croverro 7HZ Well has produced over 60,000 barrels of oil.
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Successful Drilling of Second Multilateral Well: The Company successfully drilled its second multilateral well in the GP reservoir in August/September. With all legs completed, the operator, Croverro Energy Ltd., is now recovering drilling fluid, marking another significant step in Trans Canada's growth strategy.
The second multilateral well was just successfully drilled in August/ September and all legs were successfully completed in the GP reservoir. The Operator has finished battery construction and successfully completed the newly drilled multilateral well, and is currently recovering drilling fluid. Croverro Energy Ltd. under the terms of the agreement is the Operator.
The Company has acquired additional lands inside the Area of Mutual Interest ("AMI"), which will allow additional opportunity for multilateral wells. The lands are contiguous with our existing lands. The newly acquired lands, together combined with our existing lands have the oil resource potential in both the Sparky and GP producing zones.
Commented President & CEO Tim Coupland, "We have now hit eleven months of steady oil production and now exceeded over 60,000 barrels, showcasing production expertise in both the Sparky and GP reservoir sands in Lloydminster area. We are excited to be soon releasing our August production rates, once the final oil production numbers have been finalized with Croverro, and confirmed by Altex . With the new TMX pipeline now fully operational, oil prices are forecasted to remain high, which will allow the Company to pursue additional drilling opportunities and new property acquisitions."
ABOUT TRANS CANADA GOLD CORP. - OIL AND GAS PRODUCTION/REVENUE PRODUCING WELLS
The Company is a discovery focused Oil & Gas Resource Development and Mineral Exploration Company that is currently focused on developing and drilling its' production of conventional heavy oil exploration properties, increasing production capabilities, and increasing future oil production revenues through responsible exploration. The Company identifies, acquires and finances with its working interest partners, the ongoing development of oil and gas assets primarily situated in Alberta Canada. The Company has qualified Senior exploration management and Geological teams of professionals, seasoned in exploration production, field exploration and drilling. The Company currently works with Croverro Energy Ltd., who has demonstrated proficiency, expected of an experienced oil and gas technical team that has proven oil production, and revenue success with large multi-lateral wells currently under their supervision. The Company has the necessary manpower in place to develop its natural resource properties and manage its production properties. The Company is committed to minimizing risk through selective property acquisitions, and responsible exploration drilling, and maximizing long term petroleum and natural gas resource assets.
FOR FURTHER INFORMATION, PLEASE CONTACT:
Tim Coupland, President and CEO
Trans Canada Gold Corp.
Tel: (604) 681-3131
astar@telus.com
www.transcanadagold.com
or
Christian Timmins, Director
Trans Canada Gold Corp.
Tel: (403) 597-3410
Neither the TSX Venture Exchange nor its Regulation Services Provider, (as the term is defined in the Policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE: Trans Canada Gold
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