Trans Canada Gold Corp. Completes One Full Year of Steady Oil Production From Multilateral Wells, Shipping 7,900 Barrels in September 2024 From Its Lloydminster Multilateral Horizontal Heavy Oil Wells
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) ha completato il suo primo anno intero di produzione costante di petrolio dai suoi pozzi orizzontali multilateral di heavy oil a Lloydminster. A settembre 2024, l'azienda ha spedito 7.900 barili di petrolio, con una produzione media giornaliera di 263,3 bbl/d lordi (49,37 bbl/d netti) per l'azienda, rappresentando il 18,75% del suo interesse lavorativo in entrambi i pozzi.
L'azienda ha superato il benchmark di produzione di 75.000 barili, con una produzione combinata da entrambi i pozzi multilaterali superiore a 75.861 bbl. Trans Canada ha acquisito terreni aggiuntivi nell'Area di Interesse Comune, fornendo opportunità per ulteriori pozzi multilaterali nel 2025 sia nelle zone di produzione Sparky che GP.
I commenti della direzione evidenziano il successo della strategia di perforazione dei pozzi multilaterali e il potenziale per tassi di declino modesti, indicando livelli di produzione stabili e costi operativi inferiori. L'azienda prevede di perseguire ulteriori opportunità di perforazione e nuove acquisizioni nel 2025, sfruttando le elevate previsioni dei prezzi mondiali del petrolio a causa del conflitto in corso in Medio Oriente.
Trans Canada Gold Corp. (TSX-V:TTG)(OTCQB:TTGXF) ha completado su primer año completo de producción constante de petróleo en sus pozos horizontales multilaterales de heavy oil en Lloydminster. En septiembre de 2024, la compañía envió 7,900 barriles de petróleo, con una tasa media de producción diaria de 263.3 bbl/d brutos (49.37 bbl/d netos) para la Compañía, que representa su 18.75% de interés de trabajo en ambos pozos.
La compañía ha superado el índice de producción de 75,000 barriles, con una producción combinada de ambos pozos multilaterales que supera 75,861 bbl. Trans Canada ha adquirido tierras adicionales dentro del Área de Interés Mutuo, brindando oportunidades para más pozos multilaterales en 2025 tanto en las zonas de producción Sparky como GP.
Los comentarios de la gerencia resaltan el éxito de la estrategia de perforación de pozos multilaterales y el potencial de tasas de declive modestas, indicando niveles de producción estables y menores costos operativos. La compañía planea buscar oportunidades de perforación adicionales y nuevas adquisiciones en 2025, aprovechando las altas proyecciones de precios del petróleo a nivel mundial debido al conflicto en curso en Oriente Medio.
Trans Canada Gold Corp. (TSX-V:TTG)(OTCQB:TTGXF)는 Lloydminster의 다자간 수평 원유정에서 안정적인 원유 생산으로 첫 전체 연도를 완료했습니다. 2024년 9월에 회사는 7,900배럴의 원유를 선적했으며, 회사에 대한 평균 일일 생산량은 263.3 bbl/d 총 (49.37 bbl/d 순)이었고, 이는 두 개의 유정에서 18.75%의 작업 지분을 나타냅니다.
회사는 75,000배럴 생산 기준을 초과했으며, 두 개의 다자간 유정에서의 총 생산량은 75,861 bbl을 초과했습니다. Trans Canada는 상호 관심 지역 내에 추가 토지를 확보하여 2025년 Sparky 및 GP 생산 지역에서 더 많은 다자간 유정의 기회를 제공합니다.
경영진의 의견은 다자간 유정 드릴링 전략의 성공과 완만한 감소율의 잠재력을 강조하며, 이는 안정적인 생산 수준과 낮은 운영 비용을 나타냅니다. 회사는 중동에서의 지속적인 갈등으로 인한 세계 원유 가격의 상승을 활용하여 2025년에 추가 드릴링 기회 및 새로운 인수 추구를 계획하고 있습니다.
Trans Canada Gold Corp. (TSX-V:TTG)(OTCQB:TTGXF) a complété sa première année complète de production stable de pétrole provenant de ses puits horizontaux multilateraux de pétrole lourd à Lloydminster. En septembre 2024, la société a expédié 7 900 barils de pétrole, avec un taux de production quotidien moyen de 263,3 bbl/j brut (49,37 bbl/j net) pour l'entreprise, représentant un intérêt de travail de 18,75 % dans les deux puits.
La société a dépassé le seuil de production de 75 000 barils, avec une production combinée des deux puits multilateraux dépassant 75 861 bbl. Trans Canada a acquis des terres supplémentaires dans la zone d'intérêt mutuel, offrant des opportunités pour d'autres puits multilateraux en 2025 dans les zones de production Sparky et GP.
Les commentaires de la direction soulignent le succès de la stratégie de forage des puits multilateraux et le potentiel de taux de déclin modérés, indiquant des niveaux de production stables et des coûts opérationnels réduits. La société prévoit de poursuivre des opportunités de forage supplémentaires et de nouvelles acquisitions en 2025, en tirant parti des prévisions de fortes hausses des prix du pétrole à cause du conflit en cours au Moyen-Orient.
Trans Canada Gold Corp. (TSX-V:TTG)(OTCQB:TTGXF) hat ihr erstes volles Jahr stabiler Ölproduktion aus ihren Lloydminster-Multilateralen-Horizontale-Ölquellen abgeschlossen. Im September 2024 hat das Unternehmen 7.900 Barrel Öl verschifft, mit einer durchschnittlichen täglichen Produktionsrate von 263,3 bbl/d brutto (49,37 bbl/d netto) für das Unternehmen, was einem Arbeitsinteresse von 18,75% an beiden Bohrlöchern entspricht.
Das Unternehmen hat den Produktion-Benchmark von 75.000 Barrel übertroffen, wobei die kombinierte Produktion aus beiden multilateral Bohrungen 75.861 bbl übersteigt. Trans Canada hat zusätzliche Ländereien innerhalb des Gebiets gegenseitiger Interessen erworben, was Chancen für weitere Multilateralen Bohrungen in 2025 in den Produktionszonen Sparky und GP bietet.
Das Management kommentiert den Erfolg der Multilateralen Bohrstrategie und das Potenzial für moderate Rückgangsraten, was stabile Produktionsniveaus und geringere Betriebskosten zeigt. Das Unternehmen plant, 2025 zusätzliche Bohrmöglichkeiten und neue Akquisitionen zu verfolgen, indem es die prognostizierten hohen Weltölpreise aufgrund des anhaltenden Konflikts im Nahen Osten nutzt.
- Completed first full year of steady oil production with 7,900 barrels shipped in September 2024
- Average daily production rate of 263.3 bbl/d gross (49.37 bbl/d net) for the company's 18.75% working interest
- Surpassed 75,000-barrel production benchmark with over 75,861 bbl produced from both multilateral wells
- Acquired additional lands for potential multilateral well drilling in 2025
- Multilateral wells offer potential for modest decline rates and lower operational costs
- None.
VANCOUVER, BC / ACCESSWIRE / October 8, 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 first full year (12 months) of robust steady oil production for the month of September 2024, with trucking and oil sales to Altex. The Lloydminster wells have shipped 7,900 barrels (bbl) for the month of September and produced at an average daily rate of 263.3 bbl/d gross (49.37 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 additional opportunity for multilateral wells in 2025. The lands are contiguous with our existing lands. The newly acquired lands, together combined with our existing lands have the oil resource potential for additional drilling in 2025 in both the Sparky and GP producing zones.
Commented Tim Coupland, "We have now successfully produced for over a year now, twelve (12) months of steady oil production and surpassed the 75,000-barrel production benchmark, showcasing the Company's partnership with Croverro utilizing its multilateral well drilling strategy using new state of the art multilateral well drilling techniques to create growth. The Company continues utilizing our technical proficiency and drilling expertise. World oil prices are forecasted to remain high, with ongoing conflict in the Middle East, which will allow the Company to actively pursue additional drilling opportunities and new acquisitions in 2025."
"Our recent land and lease acquisitions, and multilateral drilling success strengthen our strategic position and newly adopted strategic business model," commented Director Chris Timmins. "Multilateral wells offer the potential for modest decline rates, indicating a more stable and sustained production level over time, lower operational costs, which enhances our overall production strategy and revenue growth. We continue to seek new opportunities to grow our 2025 drilling inventory and expand our operational footprint in Alberta and Saskatchewan.
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.
View the original press release on accesswire.com
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