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Trans Canada Gold Corp Commences Drilling on Its Second Multilateral Well Near Lloydminster, Alberta
Appointment of Precision Drilling: Precision Drilling has been appointed as its Rig Contractor, b...
About this update from Trans Canada Gold Corp
[{"type":"text","content":"Trans Canada Gold Corp Commences Drilling on Its Second Multilateral Well Near Lloydminster, AlbertaAppointment of Precision Drilling: Precision Drilling has been appointed as its Rig Contractor, bringing expertise and reliability to the drilling operation. • Second Multilateral Well Spudded: Drilling has commenced on the Company's second multilateral well, with operations expected to last approximately twelve days.VANCOUVER, BC / ACCESSWIRE / August 21, 2024 / Trans Canada Gold Corp. (TSXV:TTG)(OTCQB:TTGXF) (\"Trans Canada\" or the \"Company\") is pleased to announce that the Operator (Croverro Energy) has hired Precision Drilling as the Rig Contractor, and has now spudded, and commenced drilling on the second multilateral and is expected to be drilling for approximately ten days. The lands for the well are currently controlled by a partnership led by Croverro, with the Company holding a 18.75% interest. This second multi-lateral horizontal well is based on similar wells drilled in the General Petroleum (GP) oil formation using surrounding well control combined with recently processed seismic lines. The new multilateral well is planned for 11 lateral legs in the GP sand. Precision Rig 145 The Company has acquired additional lands inside the Area of Mutual Interest (\"AMI\"), which will allow additional opportunity for multilateral wells. The lands are contiguous with our existing lands. The newly acquired lands, together combined with our existing lands have the oil resource potential in both the Sparky and GP producing zones.Commented Tim Coupland, \"We now look forward to drilling our second multilateral well which is planned with 11 lateral legs in the GP oil reservoir. With the recent strategic land and lease acquisitions, together with well control and recently obtained and processed seismic data, the upcoming drill program in the GP sand has been de-risked as much as possible.\"\"Our proven drilling and production strategy continues to deliver strong results, with our multilateral wells showcasing low decline rates that ensure steady, long-term output,\" commented Director Chris Timmins. \"This approach not only maximizes our resource recovery but also provides a stable foundation for sustained growth and value creation for our shareholders.\"The Company continues to explore additional exploration drilling opportun...