Trans Canada Gold Corp. Completes Its Tenth Full Month of Steady Oil Production for July 2024 and Prepares for Drilling Its Second Multilateral Well, Targeting 8,000 Meters of GP Oil Reservoir
Trans Canada Gold Corp. (TSX-V:TTG)(OTCQB:TTGXF) has completed its tenth consecutive month of steady oil production in July 2024. The company's first multilateral well, Croverro 7HZ, has produced over 60,000 barrels of oil since October 2023. Trans Canada is now preparing to drill its second multilateral horizontal well, targeting the General Petroleum (GP) Zone with an expected 8,000 meters of oil reservoir contact.
The company has acquired additional lands allowing for up to 4 more multilateral wells. With high oil prices and the new TMX pipeline operational, Trans Canada plans to pursue further drilling opportunities and property acquisitions. The upcoming GP Sand drill program has been de-risked through strategic land acquisitions, well control, and seismic data analysis.
Trans Canada Gold Corp. (TSX-V:TTG)(OTCQB:TTGXF) ha completato il suo decimo mese consecutivo di produzione costante di petrolio a luglio 2024. Il primo pozzo multilaterale dell'azienda, Croverro 7HZ, ha prodotto oltre 60.000 barili di petrolio da ottobre 2023. Trans Canada si sta ora preparando a perforare il suo secondo pozzo orizzontale multilaterale, mirando alla zona General Petroleum (GP) con un previsto contatto con il serbatoio di petrolio di 8.000 metri.
L'azienda ha acquisito terreni aggiuntivi che permettono fino a 4 ulteriori pozzi multilaterali. Con alti prezzi del petrolio e la nuova condotta TMX operativa, Trans Canada pianifica di perseguire ulteriori opportunità di perforazione e acquisizioni di terreni. Il programma di perforazione del GP Sand è stato ridotto a rischio grazie ad acquisizioni strategiche di terreni, controllo dei pozzi e analisi dei dati sismici.
Trans Canada Gold Corp. (TSX-V:TTG)(OTCQB:TTGXF) ha completado su décimo mes consecutivo de producción constante de petróleo en julio de 2024. El primer pozo multilateral de la empresa, Croverro 7HZ, ha producido más de 60,000 barriles de petróleo desde octubre de 2023. Trans Canada ahora se está preparando para perforar su segundo pozo horizontal multilateral, dirigido a la Zona de Petróleo General (GP) con un esperado contacto de reservorio de petróleo de 8,000 metros.
La empresa ha adquirido terrenos adicionales que permiten hasta 4 pozos multilaterales más. Con altos precios del petróleo y el nuevo oleoducto TMX en operación, Trans Canada planea seguir buscando oportunidades de perforación y adquisiciones de propiedades. El próximo programa de perforación GP Sand se ha desriscado mediante adquisiciones estratégicas de tierras, control de pozos y análisis de datos sísmicos.
트랜스 캐나다 골드 Corp. (TSX-V:TTG)(OTCQB:TTGXF)는 2024년 7월에 10개월 연속 안정적인 원유 생산을 완료했습니다. 회사의 첫 번째 다중 측면 유정인 Croverro 7HZ는 2023년 10월 이후로 60,000배럴 이상의 원유를 생산했습니다. 트랜스 캐나다는 이제 제2 다중 측면 수평 유정을 굴착할 준비를 하고 있으며, GP(General Petroleum) 구역을 목표로 8,000미터의 유정 접촉을 예상하고 있습니다.
회사는 최대 4개 다중 측면 유정을 허용하는 추가 토지를 인수했습니다. 높은 유가와 새로운 TMX 파이프라인의 운영을 통해, 트랜스 캐나다는 추가 굴착 기회와 부동산 인수를 추구할 계획입니다. 예정된 GP Sand 굴착 프로그램은 전략적 토지 인수, 유정 제어 및 지진 데이터 분석을 통해 위험이 줄어들었습니다.
Trans Canada Gold Corp. (TSX-V:TTG)(OTCQB:TTGXF) a terminé son dixième mois consécutif de production de pétrole stable en juillet 2024. Le premier puits multilatéral de la société, Croverro 7HZ, a produit plus de 60 000 barils de pétrole depuis octobre 2023. Trans Canada se prépare maintenant à forer son deuxième puits horizontal multilatéral, ciblant la zone General Petroleum (GP) avec un contact avec le réservoir pétrolier prévu de 8 000 mètres.
L'entreprise a acquis des terrains supplémentaires permettant jusqu'à 4 puits multilatéraux de plus. Avec des prix élevés du pétrole et la nouvelle canalisation TMX opérationnelle, Trans Canada prévoit de poursuivre d'autres opportunités de forage et d'acquisitions de propriétés. Le programme de forage GP Sand à venir a été dé-risqué grâce à des acquisitions de terres stratégiques, au contrôle des puits et à l'analyse des données sismiques.
Trans Canada Gold Corp. (TSX-V:TTG)(OTCQB:TTGXF) hat im Juli 2024 seinen zehnter aufeinanderfolgender Monat stabiler Ölproduktion abgeschlossen. Der erste multilaterale Brunnen des Unternehmens, Croverro 7HZ, hat seit Oktober 2023 über 60.000 Barrel Öl produziert. Trans Canada bereitet sich nun darauf vor, seinen zweiten multilateralen Horizontalbrunnen zu bohren, der die General Petroleum (GP) Zone anvisiert, mit einem erwarteten Ölreservoir-Kontakt von 8.000 Metern.
Das Unternehmen hat zusätzliche Grundstücke erworben, die bis zu 4 weitere multilaterale Brunnen ermöglichen. Mit hohen Ölpreisen und der betriebsbereiten neuen TMX-Pipeline plant Trans Canada, weitere Bohrmöglichkeiten und Grundstücksakquisitionen zu verfolgen. Das bevorstehende GP Sand-Bohrprogramm wurde durch strategische Grundstückserwerbungen, Brunnenkontrolle und seismische Datenanalyse risikominimiert.
- Consistent oil production for ten consecutive months
- First multilateral well (Croverro 7HZ) produced over 60,000 barrels of oil since October 2023
- Preparing to drill second multilateral well targeting 8,000 meters of GP oil reservoir
- Acquired additional lands allowing for up to 4 more multilateral wells
- High oil prices and operational TMX pipeline support future drilling and acquisition opportunities
- None.
• Tenth Month of Steady Oil Production: Trans Canada Gold Corp. has completed its tenth consecutive month of robust oil production for July 2024, with oil sales to Altex and Cenovus Energy Ltd.
• Successful Multilateral Well Production: Since its inception in October 2023, the Croverro 7HZ Well, featuring seven multilateral legs, has produced over 60,000 barrels of oil.
• Upcoming Drilling of Second Multilateral Well: Trans Canada is preparing to drill its second multilateral horizontal well targeting the General Petroleum (GP) Zone
VANCOUVER, BC / ACCESSWIRE / August 9, 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 tenth full month of robust steady oil production for the month of July 2024, with trucking and oil sales to Altex and Cenovus Energy Ltd. The Company will release the June numbers in the coming days, once finalized. In October 2023, the Company successfully drilled and completed seven (7) multi-lateral legs of the Company's first multilateral well. The Company encountered oil throughout the entire 2675 meters of lateral oil pay in the Sparky Formation. Since drilling inception, the Croverro 7HZ Well has now produced over 60,000 barrels of consistent steady oil production. Croverro Energy Ltd. under the terms of the agreement, is the Operator.
The lands for the well are currently controlled by a partnership led by Croverro, with the company holding
The Company has acquired additional lands inside the AMI, which will allow the drilling of up to 4 additional multilateral wells. The 320-acre parcel offset our existing lands to the north were acquired from Canpar (CN Pension Fund), Freehold Royalties and Rife Resources. The newly acquired lands, together combined with our existing lands, give access to oil resource potential in both the Sparky and General Petroleum (GP) producing zones.
Commented President & CEO Tim Coupland, "We have now hit the tenth-month of steady oil production and now exceeded over 60,000 barrels, showcasing production expertise in the Sparky reservoir in Lloydminster area. With oil prices remaining high, we are excited to be soon releasing our July production rates, once the final oil production numbers have been finalized with Croverro, and confirmed by Altex and Cenovus Energy Ltd. With the completion of the recent land acquisition, we expect to be drilling our second well on or about Aug 19-22. With global oil prices remaining steady, and 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."
"With the recent strategic land and lease acquisitions, together with well control and recently obtained and processed seismic data, the upcoming drill program in the General Petroleum Sand has been de-risked as much as possible. This well will further strengthen our strategic growth position with increased oil production and increased revenue. Multilateral wells offer the best potential for high initial production rates, modest decline rates, resulting in a more stable and sustained production level over time, which enhances our overall production growth strategy." commented Director Chris Timmins.
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
SOURCE: Trans Canada Gold Corp.
View the original press release on accesswire.com
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