on Trans Canada Gold Corp. (isin : CA8931291063)
Trans Canada Gold Corp. Moves Forward with Successful 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. The well was drilled successfully, targeting oil pay in the GP sands.
The company encountered oil in all target zones near Lloydminster, Alberta. Full oil production is expected shortly, with production rates to be released later. Croverro Energy Ltd. will act as the operator under the term of the agreement.
Additionally, Trans Canada Gold has acquired more lands within the Area of Mutual Interest, offering more opportunities for multilateral wells. These new lands are contiguous with the company's existing properties.
Tim Coupland, CEO, emphasized the benefits of favorable market conditions and strong oil pricing, while Chris Timmins highlighted the milestone achieved by drilling and completing the second multilateral well.
The company continues exploring additional drilling opportunities in Canada and the United States.
R. E.
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