Trans Canada Gold Corp. Ships 3,763 Barrels For The Month Of February 2025 From Both Of Its Lloydminster Multilateral Heavy Oil Wells
Trans Canada Gold Corp. (TTGXF) reports shipping 3,763 barrels of oil in February 2025 from its two Lloydminster multilateral heavy oil wells. The wells produced at an average daily rate of 127 bbl/d gross (25.2 bbl/d net) to the Company, reflecting its 18.75% working interest. Production was affected by extreme cold weather, resulting in seven lost shipping days.
The Company has agreed to participate in drilling a new 7-leg Sparky multi-lateral well (5-23) with Croverro Energy as operator. This third well, scheduled for summer/Q3 2025, is expected to open 3000m of Sparky formation. The drilling costs are estimated at $1.9 million ($350,000 net to Trans Canada) and will be funded through production cash flow. The existing 12-14 Sparky well has produced over 85,000 barrels of oil since 2023.
Trans Canada Gold Corp. (TTGXF) riporta di aver spedito 3.763 barili di petrolio a febbraio 2025 dai suoi due pozzi multilateral heavy oil di Lloydminster. I pozzi hanno prodotto a una media giornaliera di 127 bbl/d lordi (25,2 bbl/d netti) per la Società, riflettendo il suo interesse lavorativo del 18,75%. La produzione è stata influenzata da condizioni meteorologiche estreme, con sette giorni di spedizione persi.
La Società ha concordato di partecipare alla perforazione di un nuovo pozzo multilaterale Sparky a 7 gambe (5-23) con Croverro Energy come operatore. Questo terzo pozzo, programmato per l'estate/Q3 2025, dovrebbe aprire 3000m della formazione Sparky. I costi di perforazione sono stimati in 1,9 milioni di dollari (350.000 dollari netti per Trans Canada) e saranno finanziati attraverso il flusso di cassa della produzione. Il pozzo Sparky esistente 12-14 ha prodotto oltre 85.000 barili di petrolio dal 2023.
Trans Canada Gold Corp. (TTGXF) informa que envió 3,763 barriles de petróleo en febrero de 2025 desde sus dos pozos multilaterales de petróleo pesado en Lloydminster. Los pozos produjeron a una tasa promedio diaria de 127 bbl/d brutos (25.2 bbl/d netos) para la Compañía, reflejando su interés de trabajo del 18.75%. La producción se vio afectada por el clima extremadamente frío, lo que resultó en siete días de envío perdidos.
La Compañía ha acordado participar en la perforación de un nuevo pozo multilateral Sparky de 7 patas (5-23) con Croverro Energy como operador. Este tercer pozo, programado para el verano/T3 de 2025, se espera que abra 3000m de la formación Sparky. Los costos de perforación se estiman en 1.9 millones de dólares (350,000 dólares netos para Trans Canada) y se financiarán a través del flujo de caja de la producción. El pozo Sparky existente 12-14 ha producido más de 85,000 barriles de petróleo desde 2023.
Trans Canada Gold Corp. (TTGXF)는 2025년 2월에 Lloydminster의 2개 다중 유정에서 3,763배럴의 석유를 배송했다고 보고했습니다. 이 유정은 회사의 18.75% 지분을 반영하여 하루 평균 127 bbl/d의 총 생산량(순 25.2 bbl/d)을 기록했습니다. 생산은 극심한 추위로 영향을 받아 7일의 배송 손실이 발생했습니다.
회사는 Croverro Energy와 함께 7개 다리 Sparky 다중 유정을 새로 드릴링하는 데 참여하기로 합의했습니다(5-23). 이 세 번째 유정은 2025년 여름/3분기에 예정되어 있으며, Sparky층의 3000m를 개방할 것으로 예상됩니다. 드릴링 비용은 190만 달러(Trans Canada에 순 35만 달러)로 추정되며, 생산 현금 흐름을 통해 자금을 조달할 예정입니다. 기존의 12-14 Sparky 유정은 2023년 이후 85,000배럴 이상의 석유를 생산했습니다.
Trans Canada Gold Corp. (TTGXF) annonce avoir expédié 3 763 barils de pétrole en février 2025 depuis ses deux puits multilatéraux de pétrole lourd à Lloydminster. Les puits ont produit à un taux moyen quotidien de 127 bbl/d brut (25,2 bbl/d net) pour la Société, reflétant son intérêt de travail de 18,75 %. La production a été affectée par un temps extrêmement froid, entraînant sept jours de livraison perdus.
La Société a convenu de participer à la foration d'un nouveau puits multilatéral Sparky à 7 branches (5-23) avec Croverro Energy en tant qu'opérateur. Ce troisième puits, prévu pour l'été/T3 2025, devrait ouvrir 3000 m de la formation Sparky. Les coûts de forage sont estimés à 1,9 million de dollars (350 000 dollars nets pour Trans Canada) et seront financés par le flux de trésorerie de la production. Le puits Sparky existant 12-14 a produit plus de 85 000 barils de pétrole depuis 2023.
Trans Canada Gold Corp. (TTGXF) berichtet, dass im Februar 2025 3.763 Barrel Öl aus seinen beiden multilateralen Schwerölbohrungen in Lloydminster versandt wurden. Die Bohrungen produzierten mit einer durchschnittlichen Tagesrate von 127 bbl/d brutto (25,2 bbl/d netto) für das Unternehmen, was dessen 18,75% Beteiligung widerspiegelt. Die Produktion wurde durch extreme Kälte beeinträchtigt, was zu sieben verlorenen Versandtagen führte.
Das Unternehmen hat zugestimmt, an der Bohrung eines neuen 7-beinigen Sparky-Multilateralbohrlochs (5-23) mit Croverro Energy als Betreiber teilzunehmen. Dieses dritte Bohrloch, das für den Sommer/Q3 2025 geplant ist, wird voraussichtlich 3000 m der Sparky-Formation erschließen. Die Bohrkosten werden auf 1,9 Millionen Dollar (350.000 Dollar netto für Trans Canada) geschätzt und werden durch den Produktionscashflow finanziert. Das bestehende 12-14 Sparky-Bohrloch hat seit 2023 über 85.000 Barrel Öl produziert.
- New well to be funded entirely through production cash flow, avoiding shareholder dilution
- Existing 12-14 Sparky well demonstrates strong performance with 85,000+ barrels produced
- Company maintains steady oil production and sales despite weather challenges
- Expansion of operations with new 7-leg Sparky well planned for Q3 2025
- February production impacted by extreme weather, losing 7 shipping days
- Technical issues with GP well currently blocking production
- working interest at 18.75% in the operations
VANCOUVER, BRITISH COLUMBIA / ACCESS Newswire / March 12, 2025 / Trans Canada Gold Corp. (TSXV:TTG)(OTCQB:TTGXF) ("Trans Canada" or the "Company"), is pleased to announce that the Company has now completed another month of steady oil production for the month of February 2025, with trucking and oil sales to Altex. The two Lloydminster wells have shipped 3,763 barrels (bbl) for the month of February and produced at an average daily rate of 127 bbl/d gross (25.2 bbl/d net) to the Company since being placed on production, representing its
The Company has agreed to participate to drill a 7-leg Sparky multi-lateral well with Croverro as operator for the Joint Venture. The newly proposed 5-23 well will be situated adjacent to the Company's 12-14 Multilateral Well, near Lloydminster, Alberta. Trans Canada has a
The company has an
Drilling, completion and equipping costs are expected to be
Croverro continues to proactively implement a range of repair solutions on the newly drilled GP well blocked at the intermediate casing, including multiple Super Flushes on the well. Croverro remains optimistic about resuming operations and restoring lost production once the Alberta extreme cold weather conditions improve and the repair plan is fully implemented.
Commented Tim Coupland, "We are expecting additional oil production for 2025, and are exploring additional exploration drilling opportunities in both central Canada and the United States and the Company will continue with its newly adopted multilateral well drilling strategy for 2025-2026, using new state of the art multilateral well drilling techniques in Alberta and Saskatchewan, to create growth".
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.
View the original press release on ACCESS Newswire
FAQ
What is the current production rate of TTGXF's Lloydminster wells in February 2025?
How much will TTGXF's new Sparky multi-lateral well cost and how is it funded?
What is the production history of TTGXF's existing 12-14 Sparky well?
When is TTGXF planning to drill its new 5-23 Sparky well?
