Trans Canada Gold Corp. Strengthens its Land and Lease Position and Prepares for Drilling its Second Multilateral Well
Trans Canada Gold Corp. (TSX-V:TTG)(OTCQB:RCTRF) has bolstered its land and lease holdings, signing an additional lease and acquiring two strategic properties through an AMI in a Farmout Agreement dated November 1, 2022. The company is set to drill a new multilateral well this summer, targeting over 3000 meters of oil reservoir in the General Petroleum sand. The preparation for drilling is underway with pre-planning and equipment purchasing in progress. CEO Tim Coupland highlighted the stabilization of global oil prices and the operational Canadian TMX pipeline as supportive factors for future drilling opportunities and property acquisitions. Trans Canada Gold focuses on oil and gas resource development in Alberta, Canada, working with Croverro Energy to enhance its production capabilities and revenue from multilateral wells.
- Strengthened land and lease holdings with a new lease and two acquisitions.
- Planned drilling of a new multilateral well targeting 3000 meters of oil reservoir.
- Preparation for drilling is on schedule for mid/late summer.
- Stable global oil prices and operational Canadian TMX pipeline support future opportunities.
- None.
VANCOUVER, BC / ACCESSWIRE / July 8, 2024 / Trans Canada Gold Corp. (TSX-V:TTG)(OTCQB:RCTRF) ("Trans Canada" or the "Company") is pleased to announce that the Company has strengthened its land position, and signed an additional lease agreement to complement a recently completed the purchase of two strategic land and lease acquisitions pursuant to an AMI ("Area of Mutual Interest") in a Farmout Agreement ("Farmout") dated November 1, 2022. The Operator has completed, signed and secured a strategic surface lease and is now permitting its new multilateral well for a summer start for drilling. This new multilateral well is expected to contact over 3000 meters of oil reservoir in the General Petroleum sand.
Commented President & CEO Tim Coupland, "With the signing of the most recent lease agreement, and with the completion of the land acquisition pursuant to an AMI, drilling pre-planning, pre-purchasing of drilling equipment such as drill casing, pipe, tanks, is in full progress, and we expect drilling to be right on schedule for mid/late summer. With global oil prices remaining high, and the new Canadian TMX pipeline now fully operational, oil prices are forecasted to remain steady, this will in turn will allow the Company to pursue additional multilateral 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 Corp.
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