Trans Canada Gold Corp. Ships 5,376 Barrels for December 2024 From Both Lloydminster Multilateral Heavy Oil Wells
Trans Canada Gold Corp. (TTGXF) reported robust oil production for December 2024, with 5,376 barrels shipped from two Lloydminster wells. The wells produced at an average daily rate of 180 bbl/d gross (32.5bbl/d net) to the Company, reflecting its 18.75% working interest.
The operator, Croverro Energy, has set a 2025 preliminary budget including one Multilateral Sparky well planned for Spring 2025. The second well (8-23) targeting the GP zone initially produced over 150 bbl/d and delivered more than 5,000 bbls before encountering a blockage. Repair solutions are being implemented once weather conditions improve.
The Company has surpassed the 90,000-barrel production benchmark and continues its multilateral well drilling strategy for 2025-2026, exploring additional opportunities in Canada and the United States.
Trans Canada Gold Corp. (TTGXF) ha riportato una robusta produzione di petrolio per dicembre 2024, con 5.376 barili spediti da due pozzi situati a Lloydminster. I pozzi hanno prodotto a una media giornaliera di 180 bbl/d lordi (32,5 bbl/d netti) per la Società, riflettendo un interesse lavorativo del 18,75%.
L'operatore, Croverro Energy, ha stabilito un budget preliminare per il 2025 che include un pozzo Sparky multilateral previsto per la primavera del 2025. Il secondo pozzo (8-23), che mira alla zona GP, ha inizialmente prodotto oltre 150 bbl/d e ha consegnato più di 5.000 barili prima di incontrare un blocco. Sono in corso soluzioni di riparazione una volta che le condizioni meteorologiche miglioreranno.
La Società ha superato il benchmark di produzione di 90.000 barili e continua la sua strategia di perforazione di pozzi multilaterali per il 2025-2026, esplorando ulteriori opportunità in Canada e negli Stati Uniti.
Trans Canada Gold Corp. (TTGXF) informó de una robusta producción de petróleo para diciembre de 2024, con 5.376 barriles enviados desde dos pozos en Lloydminster. Los pozos produjeron a una tasa diaria promedio de 180 bbl/d brutos (32,5 bbl/d netos) para la Compañía, reflejando un interés de trabajo del 18,75%.
El operador, Croverro Energy, ha establecido un presupuesto preliminar para 2025 que incluye un pozo Sparky multilateral planeado para la primavera de 2025. El segundo pozo (8-23) que apunta a la zona GP produjo inicialmente más de 150 bbl/d y entregó más de 5.000 barriles antes de encontrar un bloqueo. Se están implementando soluciones de reparación una vez que mejoren las condiciones climáticas.
La Compañía ha superado el punto de referencia de producción de 90.000 barriles y continúa su estrategia de perforación de pozos multilaterales para 2025-2026, explorando oportunidades adicionales en Canadá y los Estados Unidos.
Trans Canada Gold Corp. (TTGXF)는 2024년 12월 동안 두 개의 로이드민스터 우물에서 5,376 배럴의 석유를 생산했다고 보고했습니다. 이 우물들은 회사에 18.75%의 작업 이익을 반영하며, 총 180 bbl/d의 일일 평균 생산량 (순수 32.5 bbl/d)을 기록했습니다.
운영사인 Croverro Energy는 2025년 예비 예산을 설정했으며, 2025년 봄에 멀티라테랄 스파키 우물을 계획하고 있습니다. GP 구역을 목표로 하는 두 번째 우물 (8-23)은 처음에 150 bbl/d 이상을 생산했으며, 5,000배럴 이상을 인도했으나 막힘 현상에 직면했습니다. 기상 조건이 개선되면 수리 방안이 시행될 예정입니다.
회사는 90,000배럴 생산 기준을 초과 달성하였으며, 2025-2026년 동안의 멀티라테랄 우물 굴착 전략을 지속하고 있으며, 캐나다와 미국 내 추가 기회를 탐색하고 있습니다.
Trans Canada Gold Corp. (TTGXF) a rapporté une production pétrolière solide pour décembre 2024, avec 5.376 barils expédiés de deux puits à Lloydminster. Les puits ont produit à un taux journalier moyen de 180 bbl/d brut (32,5 bbl/d net) pour la Société, reflétant un intérêt de travail de 18,75 %.
L'opérateur, Croverro Energy, a établi un bilan préliminaire pour 2025 comprenant un puits Sparky multilatéral prévu pour le printemps 2025. Le deuxième puits (8-23) ciblant la zone GP a initialement produit plus de 150 bbl/d et a livré plus de 5.000 barils avant de rencontrer un blocage. Des solutions de réparation seront mises en œuvre dès que les conditions météorologiques s'amélioreront.
La Société a dépassé le seuil de production de 90.000 barils et poursuit sa stratégie de forage de puits multilatéraux pour 2025-2026, explorant d'autres opportunités au Canada et aux États-Unis.
Trans Canada Gold Corp. (TTGXF) berichtete von einer robusten Ölproduktion im Dezember 2024, bei der 5.376 Barrel aus zwei Wells in Lloydminster versendet wurden. Die Wells produzierten mit einer durchschnittlichen Tagesrate von 180 bbl/d brutto (32,5 bbl/d netto) für das Unternehmen, was den 18,75%igen Arbeitsanteil widerspiegelt.
Der Betreiber, Croverro Energy, hat ein vorläufiges Budget für 2025 aufgestellt, das einen multilateral Sparky Well für den Frühling 2025 umfasst. Der zweite Well (8-23), der die GP-Zone anvisiert, produzierte anfänglich über 150 bbl/d und lieferte mehr als 5.000 Barrel, bevor eine Blockade auftrat. Reparaturlösungen werden implementiert, sobald sich die Wetterbedingungen verbessern.
Das Unternehmen hat den 90.000-Barril-Produktionsbenchmark übertroffen und setzt seine Strategie des Bohrens von multilateralen Wells für 2025-2026 fort und erkundet zusätzliche Möglichkeiten in Kanada und den Vereinigten Staaten.
- Steady production with 5,376 barrels shipped in December 2024
- Average daily production rate of 180 bbl/d gross (32.5bbl/d net)
- Surpassed 90,000-barrel production benchmark
- New well planned for Spring 2025
- Second well (8-23) experiencing production blockage requiring repairs
- Repair operations delayed due to extreme weather conditions
- working interest of only 18.75% in both wells
VANCOUVER, BC / ACCESSWIRE / January 8, 2025 / 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 December 2024, with trucking and oil sales to Altex. The two Lloydminster wells have shipped 5,376 barrels (bbl) for the month of December and produced at an average daily rate of 180 bbl/d gross (32.5bbl/d net) to the Company since being placed on production, representing its
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 resumes 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.
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. Croverro remains optimistic about resuming operations and restoring production once the Alberta extreme cold weather conditions improve and the repair plan is fully implemented.
Commented Tim Coupland, "We have now managed steady oil 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. The Company is continuing 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.
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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