Business
Trans Canada Gold Corp. Completes Its Eleventh Full Month of Steady Oil Production for August 2024 and Completes Drilling of Its Second Multilateral Well Targeting the GP Oil Reservoir
VANCOUVER, BC / ACCESSWIRE / September 12, 2024 / Trans Canada Gold Corp. (TSX-V:TTG)(OTCQB:TTG...
About this update from Trans Canada Gold Corp
[{"type":"text","content":"Trans Canada Gold Corp. Completes Its Eleventh Full Month of Steady Oil Production for August 2024 and Completes Drilling of Its Second Multilateral Well Targeting the GP Oil ReservoirVANCOUVER, BC / ACCESSWIRE / September 12, 2024 / Trans Canada Gold Corp. (TSX-V:TTG)(OTCQB:TTGXF) (\"Trans Canada\" or the \"Company\") is pleased to announce that the Company has now completed its eleventh full month of robust, steady oil production for the month of August 2024, with trucking and oil sales to Altex. The Company will release the August numbers in the coming days, once finalized. In October 2023, the Company successfully drilled and completed all multilateral legs of the Company's first multilateral well in the Sparky reservoir. Since drilling inception, the Croverro 7HZ Well has now produced over 60,000 barrels of consistent steady oil production.Eleventh Month of Steady Oil Production: Trans Canada Gold Corp. has completed its eleventh consecutive month of steady oil production for August 2024, with sales to Altex. Since the drilling of its first multilateral well in the Sparky reservoir, the Croverro 7HZ Well has produced over 60,000 barrels of oil.Successful Drilling of Second Multilateral Well: The Company successfully drilled its second multilateral well in the GP reservoir in August/September. With all legs completed, the operator, Croverro Energy Ltd., is now recovering drilling fluid, marking another significant step in Trans Canada's growth strategy.The second multilateral well was just successfully drilled in August/ September and all legs were successfully completed in the GP reservoir. The Operator has finished battery construction and successfully completed the newly drilled multilateral well, and is currently recovering drilling fluid. Croverro Energy Ltd. under the terms of the agreement is the Operator.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 President & CEO Tim Coupland, \"We have now hit eleven months of steady oil production and now exceeded over 60,000 barrels, showcasing production expertise in both...