Trans Canada Gold Corp. Prepares for Second Multilateral Well Drilling

Trans Canada Gold Corp. (TSXV:TTG) is set to commence drilling its second multilateral well in mid-July. This initiative follows the successful completion of its first seven-leg multilateral well, Croverro 7HZ, in October 2023.

The Croverro 7HZ Well encountered oil across 2,675 meters in the Sparky formation, producing over 50,000 barrels of oil to date. The new well aims to reach 3,000 meters of the oil reservoir in the General Petroleum sand.

The company has enhanced its land holdings through recent acquisitions and is awaiting final permits from Alberta AER. With steady global oil prices, Trans Canada Gold Corp. plans to leverage this new well for increased production and revenue.

Multilateral wells have been highlighted by the company's management as a cost-effective strategy to boost production while maintaining a small environmental footprint.