Trans Canada Gold Corp Completes Its Tenth Full Month of Steady Oil Production for July 2024, Shipping Another 5,715 Barrels From Its Lloydminster Multilateral Horizontal Heavy Oil Well and Prepares for Drilling Its Second Multilateral Well
Trans Canada Gold Corp (TSXV:TTG)(OTCQB:TTGXF) has completed its tenth full month of steady oil production in July 2024, shipping 5,715 barrels from its Lloydminster multilateral horizontal heavy oil well. The well has produced at an average daily rate of 184 bbl/d gross (35.0 bbl/d net) since October 2023, surpassing the 60,000-barrel production benchmark with a total of over 62,755 barrels.
The company has expanded its land holdings by acquiring a 320-acre parcel within the Area of Mutual Interest (AMI), allowing for up to four additional multilateral wells in the Sparky and General Petroleum zones. Trans Canada is preparing to drill its second multilateral well in August, targeting the General Petroleum Zone with an expected contact of over 8000 meters of oil reservoir.
Trans Canada Gold Corp (TSXV:TTG)(OTCQB:TTGXF) ha completato il decimo mese pieno di produzione costante di petrolio a luglio 2024, spedendo 5.715 barili dal suo pozzo orizzontale multilaterale di petrolio pesante a Lloydminster. Il pozzo ha prodotto a una media di 184 bbl/d grossi (35,0 bbl/d netti) da ottobre 2023, superando il benchmark di produzione di 60.000 barili con un totale di oltre 62.755 barili.
L'azienda ha ampliato le proprie proprietà terriere acquisendo un’area di 320 acri all'interno dell'Area di Interesse Comune (AMI), consentendo fino a quattro pozzi multilaterali aggiuntivi nelle zone Sparky e General Petroleum. Trans Canada si sta preparando a trivellare il suo secondo pozzo multilaterale ad agosto, puntando alla zona General Petroleum con un contatto previsto di oltre 8000 metri di riserva di petrolio.
Trans Canada Gold Corp (TSXV:TTG)(OTCQB:TTGXF) ha completado su décimo mes completo de producción constante de petróleo en julio de 2024, enviando 5,715 barriles de su pozo horizontal multilateral de petróleo pesado en Lloydminster. El pozo ha producido a una tasa media diaria de 184 bbl/d brutos (35.0 bbl/d netos) desde octubre de 2023, superando el punto de referencia de producción de 60,000 barriles con un total de más de 62,755 barriles.
La compañía ha expandido sus tenencias de tierra adquiriendo un terreno de 320 acres dentro del Área de Interés Mutuo (AMI), lo que permite hasta cuatro pozos multilaterales adicionales en las zonas Sparky y General Petroleum. Trans Canada se está preparando para perforar su segundo pozo multilateral en agosto, apuntando a la zona General Petroleum con un contacto esperado de más de 8000 metros de reservorio de petróleo.
Trans Canada Gold Corp (TSXV:TTG)(OTCQB:TTGXF)는 2024년 7월에 안정적인 석유 생산 10개월째를 완료하고, Lloydminster의 다중 수평 중질유 우물에서 5,715 배럴을 선적했습니다. 이 우물은 2023년 10월 이후 하루 평균 184 bbl/d의 총생산량(순수 35.0 bbl/d)을 기록하며 60,000 배럴 생산 기준을 초과하여 총 62,755 배럴 이상을 생산했습니다.
회사는 토지 보유량을 확장했습니다, 상호 관심 지역(AMI) 내에서 320에이커의 구역을 인수하여 Sparky 및 General Petroleum 지역에 최대 4개의 추가 다중 우물을 허용합니다. Trans Canada는 8월에 두 번째 다중 우물을 시추할 준비를 하고 있으며, General Petroleum Zone을 목표로 하여 8000미터 이상의 유전 접촉을 예상하고 있습니다.
Trans Canada Gold Corp (TSXV:TTG)(OTCQB:TTGXF) a terminé son dixième mois complet de production pétrolière stable en juillet 2024, expédiant 5 715 barils de son puits horizontal multilétéral de pétrole lourd à Lloydminster. Le puits a produit à un taux quotidien moyen de 184 bbl/j brut (35,0 bbl/j net) depuis octobre 2023, dépassant le seuil de production de 60 000 barils avec un total de plus de 62 755 barils.
L'entreprise a étendu ses propriétés foncières en acquérant un terrain de 320 acres dans la zone d'intérêt mutuel (AMI), permettant jusqu'à quatre nouveaux puits multilétéraux dans les zones Sparky et General Petroleum. Trans Canada se prépare à forer son deuxième puits multilétéral en août, visant la zone General Petroleum avec un contact attendu de plus de 8000 mètres de réservoir pétrolier.
Trans Canada Gold Corp (TSXV:TTG)(OTCQB:TTGXF) hat im Juli 2024 den zehnten vollen Monat stabiler Ölproduktion abgeschlossen und 5.715 Barrel von seinem multilateralen horizontalen Schwerölbrunnen in Lloydminster versandt. Der Brunnen hat seit Oktober 2023 im Durchschnitt täglich 184 bbl/d brutto (35,0 bbl/d netto) produziert und damit die Produktionsmarke von 60.000 Barrel mit insgesamt über 62.755 Barrel übertroffen.
Das Unternehmen hat seine Grundstücksbesitzungen erweitert, indem es ein 320 Acres großes Grundstück innerhalb des Gebiets des gemeinsamen Interesses (AMI) erworben hat, was bis zu vier zusätzliche multilaterale Brunnen in den Zonen Sparky und General Petroleum ermöglicht. Trans Canada bereitet sich darauf vor, im August seinen zweiten multilateralen Brunnen zu bohren, der auf die General Petroleum Zone abzielt, mit einem erwarteten Kontakt von über 8000 Metern Ölreservoir.
- Steady oil production for ten consecutive months, shipping 5,715 barrels in July 2024
- Surpassed 60,000-barrel production benchmark, with total production over 62,755 barrels
- Acquired 320-acre parcel, expanding opportunities for up to four additional multilateral wells
- Preparing to drill second multilateral well in August, targeting General Petroleum Zone
- None.
Tenth Month of Steady Oil Production: Production for July 2024, 5,715 bbl at an average daily rate of 184 bbl/d gross (35.0 bbl/d net) since production began in October 2023.
Exceeding Production Milestone: The Lloydminster multilateral well surpassed the 60,000-barrel production benchmark, with total production over 62,755 barrels.
Expansion of Land Holdings: Acquired a 320-acre parcel within the Area of Mutual Interest (AMI), expanding opportunities for up to four additional multilateral wells in the Sparky and General Petroleum
VANCOUVER, BC / ACCESSWIRE / August 14, 2024 / Trans Canada Gold Corp. (TSXV: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 Lloydminster well has shipped 5,715 barrels (bbl) for the month of July and produced at an average daily rate of 184 bbl/d gross (35.0 bbl/d net) to the Company since being placed on production, representing its
The Company has acquired additional lands inside the Area of Mutual Interest ("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, combined with our existing lands have the oil resource potential in both the Sparky and General Petroleum (GP) producing zones.
Commented Tim Coupland, "We have now successfully produced over ten (10) months of steady oil production and surpassed the 60,000-barrel production benchmark. With the signing of our latest lease and completion of the land acquisition, and utilizing our technical proficiency and drilling expertise, we now look forward to drilling our second multilateral well this August, targeting the General Petroleum Zone (GP), which is expected to contact over 8000 meters of GP oil reservoir. The TMX pipeline is now fully operational, shipping Canadian oil, and world oil prices are forecasted to remain high, which will allow the Company to actively pursue additional drilling opportunities and new acquisitions."
"Our recent land and lease acquisitions, along with the upcoming multilateral well in the General Petroleum Sand, further strengthen our strategic position," commented Director Chris Timmins. "Multilateral wells offer the potential for modest decline rates, indicating a more stable and sustained production level over time, which enhances our overall production strategy. We continue to seek new opportunities to grow our drilling inventory and expand our operational footprint. We look forward to announcing the spud date soon and are confident in the continued growth and success of our operations.
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
SOURCE: Trans Canada Gold Corp.
View the original press release on accesswire.com
FAQ
What was Trans Canada Gold Corp's (TTGXF) oil production in July 2024?
What is the average daily production rate for Trans Canada Gold Corp's (TTGXF) Lloydminster well?
How much land did Trans Canada Gold Corp (TTGXF) acquire in its recent expansion?
When is Trans Canada Gold Corp (TTGXF) planning to drill its second multilateral well?
