Trans Canada Gold Corp. Ships 5,197 Barrels for the Month of November 2024 From Both of Its Lloydminster Multilateral Heavy Oil Wells
Trans Canada Gold Corp. (TTGXF) reported its November 2024 oil production from two Lloydminster multilateral heavy oil wells, shipping 5,197 barrels to Altex. The wells produced at an average daily rate of 183 bbl/d gross (32.48 bbl/d net) based on the Company's 18.75% working interest.
The second well (8-23) targeting the GP zone initially produced over 150 bbl/d but encountered a blockage, leading to temporary shutdown during extreme cold conditions. Croverro Energy, the operator, has implemented repair solutions and is developing a comprehensive repair program.
Croverro has set a 2025 preliminary budget including one Multilateral Sparky well planned for Spring 2025. Additional GP zone wells may be drilled in late 2025 depending on oil prices and repair success of the current GP well.
Trans Canada Gold Corp. (TTGXF) ha riportato la produzione di petrolio di novembre 2024 da due pozzi petroliferi multilateral heavy oil di Lloydminster, spedendo 5.197 barili ad Altex. I pozzi hanno prodotto a una media di 183 bbl/d lordi (32,48 bbl/d netti) basata sul 18,75% di partecipazione lavorativa della Società.
Il secondo pozzo (8-23) che mira alla zona GP ha inizialmente prodotto oltre 150 bbl/d, ma ha subito un blocco, portando a una chiusura temporanea durante condizioni di freddo estremo. Croverro Energy, l'operatore, ha implementato soluzioni di riparazione e sta sviluppando un programma di riparazione completo.
Croverro ha stabilito un budget preliminare per il 2025 che include un pozzo Sparky multilateral programmato per la primavera del 2025. Ulteriori pozzi nella zona GP potrebbero essere perforati alla fine del 2025 a seconda dei prezzi del petrolio e del successo delle riparazioni del pozzo GP attuale.
Trans Canada Gold Corp. (TTGXF) reportó su producción de petróleo de noviembre de 2024 proveniente de dos pozos de petróleo pesado multilaterales en Lloydminster, enviando 5,197 barriles a Altex. Los pozos produjeron a una tasa diaria promedio de 183 bbl/d brutos (32.48 bbl/d netos) basado en el 18.75% de interés de trabajo de la Compañía.
El segundo pozo (8-23) que apunta a la zona GP inicialmente produjo más de 150 bbl/d, pero encontró un bloqueo, lo que llevó a una suspensión temporal durante condiciones de frío extremo. Croverro Energy, el operador, ha implementado soluciones de reparación y está desarrollando un programa integral de reparación.
Croverro ha establecido un presupuesto preliminar para 2025 que incluye un pozo Sparky multilateral planeado para la primavera de 2025. Pozos adicionales en la zona GP pueden ser perforados a finales de 2025 dependiendo de los precios del petróleo y del éxito de las reparaciones del pozo GP actual.
Trans Canada Gold Corp. (TTGXF)는 2024년 11월 Lloydminster의 다중 측면 중유 유정 두 곳에서 원유 생산을 보고했고, 5,197배럴을 Altex로 배송했습니다. 이 유정은 회사의 18.75% 작업 지분을 기준으로 하루 평균 183 bbl/d의 총 생산량(순 32.48 bbl/d)을 기록했습니다.
두 번째 유정(8-23)은 GP 구역을 겨냥하여 처음에 150 bbl/d 이상의 생산량을 기록했으나, 차단 현상이 발생하여 극심한 한파 상황에서 일시적으로 가동 중지되었습니다. 운영자인 Croverro Energy는 수리 솔루션을 구현하였고, 종합적인 수리 프로그램을 개발하고 있습니다.
Croverro는 2025년 예비 예산을 설정하였으며, 2025년 봄에 계획된 하나의 다중 측면 Sparky 유정을 포함하고 있습니다. 추가 GP 구역 유정은 유가와 현재 GP 유정 수리의 성공 여부에 따라 2025년 말에 시추될 수 있습니다.
Trans Canada Gold Corp. (TTGXF) a rapporté sa production pétrolière de novembre 2024 provenant de deux puits de pétrole lourd multilatéraux à Lloydminster, expédiant 5 197 barils à Altex. Les puits ont produit à un taux quotidien moyen de 183 bbl/j brut (32,48 bbl/j net) basé sur l'intérêt de travail de 18,75 % de la Société.
Le deuxième puits (8-23) ciblant la zone GP a initialement produit plus de 150 bbl/j, mais a rencontré un blocage, entraînant une interruption temporaire par des conditions de froid extrême. Croverro Energy, l'opérateur, a mis en œuvre des solutions de réparation et développe un programme de réparation complet.
Croverro a établi un budget préliminaire pour 2025, comprenant un puits Sparky multilatéral prévu pour le printemps 2025. D'autres puits dans la zone GP pourraient être forés fin 2025 en fonction des prix du pétrole et du succès des réparations du puits GP actuel.
Trans Canada Gold Corp. (TTGXF) hat seine Ölproduktion im November 2024 aus zwei multilateralen Schwerölbohrlöchern in Lloydminster berichtet und 5.197 Barrel an Altex verschifft. Die Bohrlöcher produzierten im Durchschnitt 183 bbl/d brutto (32,48 bbl/d netto), basierend auf dem 18,75%igen Arbeitsanteil des Unternehmens.
Der zweite Bohrloch (8-23), das die GP-Zone anvisierte, produzierte zunächst über 150 bbl/d, stieß jedoch auf eine Blockade, die zu einer vorübergehenden Stilllegung während extremer Kältebedingungen führte. Croverro Energy, der Betreiber, hat Reparaturlösungen implementiert und entwickelt ein umfassendes Reparaturprogramm.
Croverro hat ein vorläufiges Budget für 2025 festgelegt, das einen multilateral Sparky Bohrloch für das Frühjahr 2025 beinhaltet. Zusätzliche Bohrlöcher in der GP-Zone könnten gegen Ende 2025 gebohrt werden, abhängig von den Ölpreisen und dem Erfolg der Reparaturen des aktuellen GP-Bohrlochs.
- Achieved 5,197 barrels production in November 2024
- Maintained steady average daily production of 183 bbl/d gross (32.48 bbl/d net)
- Surpassed 90,000-barrel production benchmark
- New well development planned for Spring 2025
- Second well (8-23) encountered blockage requiring shutdown
- Repair attempts with Super Flushes showed minimal results
- Additional GP zone well drilling contingent on repair success and oil prices
VANCOUVER, BC / ACCESSWIRE / December 11, 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 another month of robust steady oil production for the month of November 2024, with trucking and oil sales to Altex. The two Lloydminster wells have shipped 5,197 barrels (bbl) for the month of November and produced at an average daily rate of 183 bbl/d gross (32.48 bbl/d net) to the Company since being placed on production, representing its
The second newly drilled well the 8-23 targeting the GP zone, successfully commenced production of over 150 bbl/d, delivering more than 5,000 bbls of oil production before encountering a blockage near the end of the intermediate casing. While this has temporarily impacted production, Croverro has proactively implemented a range of repair solutions, including multiple Super Flushes on the well. Despite minimal results so far, the operator remains proactive and has decided to temporarily shut in the well during the extreme cold winter conditions in central Alberta. This decision allows for careful monitoring of fluid levels and pressures while a more detailed and comprehensive repair program is developed and approved. Croverro is optimistic about resuming operations and restoring production once the Alberta extreme cold weather conditions improve and the repair plan is fully implemented.
Croverro has set a 2025 preliminary budget with one Multilateral Sparky well forecasted to be drilled for Spring 2025. This well is expected to be identical to the original Sparky well drilled by the Company in October 2023. Once the GP well has been repaired and proves continued production, additional GP zone wells may be drilled in late 2025. The Company is currently monitoring oil prices, and should they improve, Croverro is expected to accelerate drilling and development.
Commented Tim Coupland, "We have now managed steady production for 2024, successfully producing our two Multilateral Well program for over a year now, and brought on to production two Multilateral wells, and successfully surpassed the 90,000-barrel production benchmark, showcasing the Company's partnership with Croverro Energy. The Company is utilizing its newly adopted multilateral well drilling strategy using new state of the art multilateral well drilling techniques in Alberta and Saskatchewan to create growth."
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.
SOURCE: Trans Canada Gold Corp.
View the original press release on accesswire.com
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