on Trans Canada Gold Corp. (isin : CA8931291063)
Trans Canada Gold Corp Completes Ten Months of Steady Oil Production
Trans Canada Gold Corp has reported substantial oil production achievements for July 2024. The company shipped 5,715 barrels of oil from its Lloydminster multilateral horizontal heavy oil well, maintaining an average daily rate of 184 barrels gross (35 barrels net) since October 2023.
The Lloydminster well has now surpassed the 60,000-barrel milestone, with total production reaching 62,755 barrels. The company acquired a 320-acre parcel within the Area of Mutual Interest, opening possibilities for drilling up to four additional multilateral wells in Sparky and General Petroleum zones.
President Tim Coupland emphasized the significance of this achievement and outlined plans for drilling a second multilateral well in August 2024. Director Chris Timmins noted the strategic benefits of recent land acquisitions and anticipated stable production levels.
R. H.
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