• Progress on Second Multilateral Well: Successfully completed 50% of the drilling on its second multilateral well located on the Company's heavy oil property
• Efficient Drilling Operations: Contractor crews, led by Precision Drilling, are progressing efficiently and are expected to complete drilling by August 30, 2024. Completion operations are scheduled to follow in early September.
VANCOUVER, BC / ACCESSWIRE / August 28, 2024 / Trans Canada Gold Corp. (TSXV:TTG)(OTCQB:TTGXF) ("Trans Canada" or the "Company") is pleased to announce that it has now successfully completed 50% of the drilling on its second Multilateral well on the Company's heavy oil property situated near Lloydminster, Alberta. Croverro Energy Ltd., under the terms of the agreement, will be Operator.
The Contractor crews, headed by Precision Drilling, continue to efficiently drill and are expected to be completed by August 30, 2024, with completion operations to follow in early September. The lands for the well are currently controlled by a partnership led by Croverro, with the Company holding a 18.75% interest. This second multilateral horizontal well is based on well control and newly processed seismic data. The new multilateral well is now planned for 8 lateral legs in the GP sand.
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 Tim Coupland, "Both weather and drilling conditions have been ideal, and we are excited to be finishing drilling our second multi-leg Multilateral well, and look forward to the additional opportunities that may be available in the immediate area."
The Company continues to explore additional exploration drilling opportunities in Canada and the United States.
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.
Contact Information
Chris Timmins
Director
ctimmins29@gmail.com
403-597-3410
Tim Coupland
CEO
astar@telus.com
604-681-3131
SOURCE: Trans Canada Gold Corp.
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