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Trans Canada Gold Corp Acquires Additional Lands from Canpar Freehold Royalties and Rife Resources Which Will Allow for Drilling Up to Four Additional New Multilateral Wells Situated Near Lloydminster Alberta
Acquisition of Additional Lands : Trans Canada Gold Corp. has acquired a 320-acre parcel of land ...
About this update from Trans Canada Gold Corp
[{"type":"text","content":"Trans Canada Gold Corp Acquires Additional Lands from Canpar Freehold Royalties and Rife Resources Which Will Allow for Drilling Up to Four Additional New Multilateral Wells Situated Near Lloydminster AlbertaAcquisition of Additional Lands: Trans Canada Gold Corp. has acquired a 320-acre parcel of land from Canpar, Freehold Royalties, and Rife Resources. This new acquisition, combined with existing holdings, brings the total controlled lands to 640 acres. The land has oil resource potential in the Sparky and General Petroleum (GP) producing zones, with the company's interest in the land at 18.75%.Potential for Additional Wells: The newly acquired land will allow the drilling of up to four additional multilateral wells. These wells will target the prolific Sparky and GP zones, enhancing the company's potential for increased oil production.Strategic Partnerships and Seismic Data: The operator, Croverro Energy, has acquired and processed two additional seismic lines. This, combined with existing well control, will enable more precise targeting when drilling horizontal wells. This strategic approach, along with the upcoming drill program, positions Trans Canada Gold for increased production and revenue growth.VANCOUVER, BC / ACCESSWIRE / July 30, 2024 / Trans Canada Gold Corp. (TSXV:TTG)(OTCQB:TTGXF) (\"Trans Canada\" or the \"Company\"), is pleased to announce that the Company has acquired additional lands inside the AMI which will allow the drilling of up to 4 additional multilateral wells. The 320-acre parcel offset our existing lands to the north were acquired from Canpar (CN Pension Fund), Freehold Royalties and Rife Resources. The newly acquired lands, together combined with our existing lands have the oil resource potential in both the Sparky and General Petroleum (GP) producing zones. These additional lands bring total lands controlled to 640 acres. The company interest in the lands is 18.75% with all wells to be drilled on a non-promoted basis (pay 18.75% to earn 18.75%).Our operator, Croverro Energy, has acquired and processed 2 additional seismic lines, which combined together with existing well control will allow the more precise targeting, when drilling the horizontal wells in the oil resource reservoirs.Commented Tim Coupland, \"This is exciting news for the Company, which will allow for drilling up to four (4) more ad...