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Trans Canada Gold Corp (TSX-V:TTG)(OTCQB:TTGXF) has appointed Christian Timmins as Vice-President of Business Development and Operations. Timmins, a current board member with over 20 years of oil and gas industry experience, will focus on strengthening marketing efforts, driving production growth, and supporting multilateral well development. His role includes managing social media communications and expanding investor relations across North American markets. The company plans to implement new generation multilateral well drilling technology in 2025, aiming for increased revenue and production growth while exploring additional drilling opportunities in Canada and the US.
Trans Canada Gold Corp. (TSX-V:TTG)(OTCQB:TTGXF) has completed its first full year of steady oil production from its Lloydminster multilateral horizontal heavy oil wells. In September 2024, the company shipped 7,900 barrels of oil, with an average daily production rate of 263.3 bbl/d gross (49.37 bbl/d net) to the Company, representing its 18.75% working interest in both wells.
The company has surpassed the 75,000-barrel production benchmark, with combined production from both multilateral wells exceeding 75,861 bbl. Trans Canada has acquired additional lands within the Area of Mutual Interest, providing opportunities for more multilateral wells in 2025 in both the Sparky and GP producing zones.
Management comments highlight the success of the multilateral well drilling strategy and the potential for modest decline rates, indicating stable production levels and lower operational costs. The company plans to pursue additional drilling opportunities and new acquisitions in 2025, leveraging forecasted high world oil prices due to ongoing conflict in the Middle East.
Trans Canada Gold Corp. (TSX-V:TTG)(OTCQB:TTGXF) has completed its eleventh full month of steady oil production in August 2024, shipping 5,207 barrels from its Lloydminster multilateral horizontal heavy oil well. The well has produced at an average daily rate of 168 bbl/d gross (32.0 bbl/d net) to the Company, representing its 18.75% working interest ownership. Since production began on October 6th, 2023, the well has produced over 67,962 barrels, surpassing the 65,000-barrel production benchmark.
The Company has also successfully drilled its second multilateral well in August 2024, targeting the General Petroleum (GP) reservoir. Additionally, Trans Canada has acquired new lands within the Area of Mutual Interest (AMI), providing opportunities for additional multilateral wells in both the Sparky and GP producing zones.
Trans Canada Gold Corp. (TSX-V:TTG)(OTCQB:TTGXF) has successfully placed its second multilateral heavy oil well on production near Lloydminster, Alberta. The well, drilled in August and September, started production on September 7th and is currently recovering drilling fluid with increased oil recovery percentage. Trans Canada has an 18.75% interest in the well and Area of Mutual Interest (AMI).
The company has also acquired additional lands inside the AMI, providing opportunities for more multilateral wells. These new lands, combined with existing holdings, have oil resource potential in both the Sparky and GP producing zones. Production rates will be released once the well stabilizes.
Trans Canada Gold Corp. (TSX-V:TTG)(OTCQB:TTGXF) has completed its eleventh full month of steady oil production for August 2024, with sales to Altex. The company's first multilateral well, Croverro 7HZ, has produced over 60,000 barrels of oil since inception. Trans Canada has also successfully drilled and completed its second multilateral well in the GP reservoir. The operator, Croverro Energy , is currently recovering drilling fluid. The company has acquired additional lands within the Area of Mutual Interest, expanding opportunities for multilateral wells in both Sparky and GP producing zones. CEO Tim Coupland expressed optimism about future production rates and potential drilling opportunities, citing the newly operational TMX pipeline and forecasted high oil prices.
Trans Canada Gold Corp. (TSX-V:TTG)(OTCQB:TTGXF) has successfully drilled and completed its second multilateral well near Lloydminster, Alberta. The company encountered oil in all target zones of the GP sands and expects production to start by September 15th, 2024. The well was completed on budget and as planned. Trans Canada has also acquired additional lands within the Area of Mutual Interest, expanding opportunities for more multilateral wells in both Sparky and GP producing zones. The company is optimistic about capitalizing on current market conditions and oil pricing. Croverro Energy will serve as the operator under the terms of the agreement.
Trans Canada Gold Corp. (TSXV:TTG)(OTCQB:TTGXF) has successfully drilled and completed its second multilateral horizontal heavy oil well near Lloydminster, Alberta. The company encountered oil in all target zones of interest in the GP sands. The well is expected to begin full oil production soon, with production rates to be released after completion and equipment installation.
Trans Canada has received all required drill permits from the Alberta AER Regulator and completed surface drilling operations. The Lloyd well was completed as planned and on budget. The company has also acquired additional lands within the Area of Mutual Interest, providing opportunities for more multilateral wells in both Sparky and GP producing zones.
Trans Canada Gold Corp. (TSXV:TTG)(OTCQB:TTGXF) has announced 50% completion of drilling on its second multilateral well near Lloydminster, Alberta. The company expects to finish drilling by August 30, 2024, with completion operations scheduled for early September. Precision Drilling is leading the efficient drilling operations. The well, operated by Croverro Energy , is planned for 8 lateral legs in the GP sand. Trans Canada holds an 18.75% interest in the partnership-controlled lands. The company has also acquired additional lands within the Area of Mutual Interest, expanding opportunities for multilateral wells in both Sparky and GP producing zones.
Trans Canada Gold Corp (TSXV:TTG, OTCQB:TTGXF) has commenced drilling on its second multilateral well near Lloydminster, Alberta. Key points include:
1. Precision Drilling appointed as Rig Contractor
2. Drilling expected to last approximately 12 days
3. Company holds 18.75% interest in the well
4. Well planned for 11 lateral legs in the GP sand
5. Additional lands acquired within Area of Mutual Interest
6. Potential in both Sparky and GP producing zones
The company's strategy focuses on low decline rates for steady, long-term output, aiming to maximize resource recovery and create value for shareholders. Trans Canada continues to explore additional drilling opportunities in Canada and the United States.
Trans Canada Gold Corp (TSXV:TTG)(OTCQB:TTGXF) is preparing to drill its second multilateral horizontal heavy oil well near Lloydminster, Alberta. The Alberta Energy Regulator has issued drilling permits, and lease construction is nearing completion. The well's total costs are projected at $2.2 million, with Trans Canada's fully funded share at $412,500. Croverro Energy will operate the project under the partnership agreement.
The new multilateral well is expected to contact over 8000 m of GP oil reservoir. The company holds an 18.75% interest in the partnership led by Croverro. Trans Canada's management expresses excitement about the project, citing high world oil prices and the potential for continued success using new computer modeling and seismic techniques.
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