Trans Canada Gold Corp. Starts Equipping and Prepares for the Completion of the Newly Successfully Drilled Multilateral Horizontal Heavy Oil Well, After Encountering Oil in Its Target Zone Near Lloydminster, Alberta
Trans Canada Gold Corp. (TSX-V:TTG)(OTCQB:TTGXF) has successfully drilled and completed its second multilateral well near Lloydminster, Alberta. The company encountered oil in all target zones of the GP sands and expects production to start by September 15th, 2024. The well was completed on budget and as planned. Trans Canada has also acquired additional lands within the Area of Mutual Interest, expanding opportunities for more multilateral wells in both Sparky and GP producing zones. The company is optimistic about capitalizing on current market conditions and oil pricing. Croverro Energy will serve as the operator under the terms of the agreement.
Trans Canada Gold Corp. (TSX-V:TTG)(OTCQB:TTGXF) ha completato con successo il suo secondo pozzo multilaterale vicino a Lloydminster, Alberta. L'azienda ha trovato petrolio in tutte le zone obiettivo delle sabbie GP e si aspetta che la produzione inizi entro il 15 settembre 2024. Il pozzo è stato completato rispettando il budget e secondo le previsioni. Trans Canada ha anche acquistato terreni aggiuntivi nell'Area di Interesse Comune, ampliando le opportunità per ulteriori pozzi multilaterali nelle zone di produzione Sparky e GP. L'azienda è ottimista riguardo alla capitalizzazione delle attuali condizioni di mercato e dei prezzi del petrolio. Croverro Energy agirà come operatore secondo i termini dell'accordo.
Trans Canada Gold Corp. (TSX-V:TTG)(OTCQB:TTGXF) ha completado con éxito su segundo pozo multilateral cerca de Lloydminster, Alberta. La compañía encontró petróleo en todas las zonas objetivo de las arenas GP y espera que la producción comience para el 15 de septiembre de 2024. El pozo se completó dentro del presupuesto y según lo planeado. Trans Canada también ha adquirido terrenos adicionales dentro del Área de Interés Mutuo, ampliando las oportunidades para más pozos multilaterales en las zonas de producción Sparky y GP. La compañía es optimista sobre la capitalización de las condiciones actuales del mercado y los precios del petróleo. Croverro Energy actuará como operador bajo los términos del acuerdo.
Trans Canada Gold Corp. (TSX-V:TTG)(OTCQB:TTGXF)는 앨버타주 로이드민스터 근처에서 두 번째 다중구조물 우물을 성공적으로 시추하고 완공했습니다. 회사는 GP 모래의 모든 목표 구역에서 석유를 발견했으며 2024년 9월 15일에 생산이 시작될 것으로 예상하고 있습니다. 이 우물은 예산 내에서 계획대로 완공되었습니다. Trans Canada는 또한 추가 토지를 인수했습니다, 상호 이익 지역 내에서 Sparky 및 GP 생산 구역에서 추가 다중구조물 우물의 기회를 확장합니다. 회사는 현재 시장 상황과 석유 가격을 활용할 수 있을 것으로 낙관하고 있습니다. Croverro Energy는 계약 조건에 따라 운영자로 활동할 것입니다.
Trans Canada Gold Corp. (TSX-V:TTG)(OTCQB:TTGXF) a réussi à forer et à achever son deuxième puits multilatéral près de Lloydminster, Alberta. La société a rencontré du pétrole dans toutes les zones cibles des sables GP et s'attend à ce que la production commence d'ici le 15 septembre 2024. Le puits a été achevé dans le respect du budget et comme prévu. Trans Canada a également acquis des terrains supplémentaires dans la zone d'intérêt mutuel, élargissant ainsi les opportunités pour d'autres puits multilatéraux dans les zones de production Sparky et GP. La société est optimiste quant à la capitalisation des conditions actuelles du marché et des prix du pétrole. Croverro Energy agira en tant qu'opérateur selon les termes de l'accord.
Trans Canada Gold Corp. (TSX-V:TTG)(OTCQB:TTGXF) hat erfolgreich ihr zweites multilaterales Bohrloch fertiggestellt in der Nähe von Lloydminster, Alberta. Das Unternehmen traf in allen Zielzonen der GP-Sande auf Öl und erwartet, dass die Produktion bis zum 15. September 2024 beginnt. Das Bohrloch wurde im Budgetrahmen und wie geplant abgeschlossen. Trans Canada hat auch zusätzliche Ländereien erworben im Bereich des gemeinsamen Interesses, wodurch sich die Möglichkeiten für weitere multilaterale Bohrungen in den Produktionszonen Sparky und GP erweitern. Das Unternehmen ist optimistisch, die aktuellen Marktbedingungen und Ölpreise zu nutzen. Croverro Energy wird gemäß den Vertragsbedingungen als Betreiber fungieren.
- Successful drilling and completion of second multilateral well
- Oil encountered in all target zones of GP sands
- Expected production start by September 15th, 2024
- Well completed on budget and as planned
- Acquisition of additional lands for more multilateral well opportunities
- None.
- Completion of Second Multilateral Well: Trans Canada Gold Corp. has started equipping and preparing for the completion of its second multilateral well. Production is expected to start by September 15th, 2024. - Successful Drilling and On-Budget Completion: The well was successfully drilled and completed as planned, targeting oil pay in the GP sands.
VANCOUVER, BC / ACCESSWIRE / September 9, 2024 /Trans Canada Gold Corp. (TSX-V:TTG)(OTCQB:TTGXF) ("Trans Canada" or the "Company"), is pleased to announce that it has started equipping and preparing for the completion of the Company's second newly drilled multilateral well. The well is expected to be on production by September 15th, 2024. The Company successfully drilled and completed all legs of the newly drilled multilateral well on the Company's heavy oil property situated near Lloydminster, Alberta. The Company encountered oil in all of the target zones of interest in the GP sands. The well is expected to be placed on full oil production shortly, and once the well has been completed and fully equipped, oil production rates will be released. The Lloyd Multilateral well was completed as planned and on budget, targeting oil pay in the GP sands. Croverro Energy Ltd., under the terms of the agreement, will be Operator.
The Company has acquired additional lands inside the Area of Mutual Interest ("AMI"), which will allow additional opportunity for multilateral wells. The lands are contiguous with our existing lands. The newly acquired lands, together combined with our existing lands have the oil resource potential in both the Sparky and GP producing zones.
Commented Tim Coupland, "Warm, sunny and hot August weather has allowed us to move quickly and start equipping, completing our newly drilled well. Our timing and market conditions and current oil pricing will optimize any benefits in the near, and long term, and we are excited to be completing the Company's second successful large multi-leg Multilateral well. The Croverro Team has again demonstrated the proficiency expected of an experienced oil and gas technical team that has consistent, proven oil production success with multi-lateral wells currently under their supervision and operation."
"The successful drilling and completion of our second multilateral well is a significant milestone for the Company, confirming the potential of the GP sands. We encountered oil in all target zones, and with the well expected to be in production by mid-September, we are well-positioned to capitalize on strong market conditions." Commented Chris Timmins.
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
FAQ
When is Trans Canada Gold Corp's (TTGXF) new multilateral well expected to start production?
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