Trans Canada Gold Corp. Completes Ninth Month of Steady Oil Production and Plans New Drilling

Trans Canada Gold Corp. has successfully completed its ninth consecutive month of steady oil production as of June 2024. The company will soon release the production numbers for this period. Since October 2023, the company’s first multilateral well has produced over 50,000 barrels of oil, demonstrating consistent production from the Sparky formation.

The company has recently fortified its land position through strategic acquisitions under an Area of Mutual Interest agreement. Plans are underway to drill a new multilateral well this summer, targeting over 3000 meters of oil reservoir in the General Petroleum sand.

President and CEO Tim Coupland expressed optimism due to the current high oil prices and mentioned the company’s intent to pursue additional drilling opportunities and property acquisitions. Director Chris Timmins highlighted the firm’s strategy of purchasing stakes in new multilateral wells drilled by larger corporations to grow production while minimizing costs and risks.