Business
Trans Canada Gold Corp. Completes its Eight (8) Full Months of Successful Steady Oil Production for May, Shipping Another 6,203 Barrels from its Lloydminster Multilateral Horizontal Heavy Oil Well
Lloydminster Well Performance: Shipped 6,203 barrels (bbl) of oil for the month of May. ...
About this update from Trans Canada Gold Corp
[{"type":"text","content":"Trans Canada Gold Corp. Completes its Eight (8) Full Months of Successful Steady Oil Production for May, Shipping Another 6,203 Barrels from its Lloydminster Multilateral Horizontal Heavy Oil Well Lloydminster Well Performance:Shipped 6,203 barrels (bbl) of oil for the month of May.Average daily production rate: 185 bbl/d gross (37.5 bbl/d net) to the Company.Represents an 18.75% working interest ownership.Production Milestone:Production shipping and sales commenced on October 6th, 2023.The 7HZ well has produced over 51,439 bbl of oil.Exceeded the 50,000-barrel production benchmark.Upcoming Drilling Plans:New multilateral well drill is expected to contact over 3,000 meters of oil reservoir in the General Petroleum sand.Spud date to be announced once final permitting is received from the Alberta Energy Regulator (\"AER\"). VANCOUVER, BC / ACCESSWIRE / June 11, 2024 / Trans Canada Gold Corp. (TSXV:TTG)(OTCQB:RCTRF) (\"Trans Canada\" or the \"Company\") is pleased to announce that the Company has the results of the eighth (8) full month of oil production, trucking and oil sales to purchasers Altex and Cenovus Energy Ltd. The Lloydminster well has shipped 6,203 barrels (bbl) for the month of May and produced at an average daily rate of 185 bbl/d gross (37.5 bbl/d net) to the Company since being placed on production, representing its 18.75% working interest ownership. Production shipping and sales commenced on the newly drilled well on October 6th, 2023, and the well has now produced over 51,439 bbl and exceeded the 50,000-barrel production benchmark of consistent steady oil production with its multilateral well. Croverro Energy Ltd. is the Operator.The Company has strengthened its land position and completed the purchase of two land and lease acquisitions pursuant to an AMI (\"Area of Mutual Interest\") in a Farmout Agreement (\"Farmout\") dated November 1, 2022. This new multilateral well is expected to contact over 3000 meters of oil reservoir in the General Petroleum Sand. The spud date will be announced once final permitting has been received from the Alberta Energy Regulator (\"AER\").Commented Tim Coupland, \"We have now successfully produced over eight (8) months of steady oil production and reached the 50,000-barrel production benchmark. With the completion of the land acquisition, and utilizing our technical proficiency and...