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Trans Canada Gold Corp. Completes Its Ninth Full Month of Steady Oil Production For The Month Of June 2024, Shipping Another 5,435 Barrels From Its Lloydminster Multilateral Horizontal Heavy Oil Well And Prepares For Drilling Its Second Multilateral Well
VANCOUVER, BC / ACCESSWIRE / July 15, 2024 / Trans Canada Gold Corp. (TSX-V:TTG)(OTCQB:RCTRF) ...
About this update from Trans Canada Gold Corp
[{"type":"text","content":"Trans Canada Gold Corp. Completes Its Ninth Full Month of Steady Oil Production For The Month Of June 2024, Shipping Another 5,435 Barrels From Its Lloydminster Multilateral Horizontal Heavy Oil Well And Prepares For Drilling Its Second Multilateral WellVANCOUVER, BC / ACCESSWIRE / July 15, 2024 / Trans Canada Gold Corp. (TSX-V:TTG)(OTCQB:RCTRF) (\"Trans Canada\" or the \"Company\"), is pleased to announce that the Company has now completed its ninth full month of robust steady oil production for the month of June 2024, with trucking and oil sales to Altex and Cenovus Energy Ltd. The Lloydminster well has shipped 5,435 barrels (bbl) for the month of June and produced at an average daily rate of 181 bbl/d gross (34.0 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 56,730 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 leases and land positions 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 shortly once final permitting has been received from the Alberta Energy Regulator (\"AER\").Commented Tim Coupland, \"We have now successfully produced over nine (9) months of steady oil production and surpassed the 50,000-barrel production benchmark. With the signing of our latest lease and completion of the land acquisition, and utilizing our technical proficiency and drilling expertise, we now look forward to drilling our second multilateral well this summer. The TMX pipeline is now fully operational, shipping Canadian oil, and world oil prices are forecasted to remain high which will allow the Company to actively pursue additional drilling opportunities and new acquisitions.\"\"Our recent land and lease acquisitions, along with the upcoming multilateral well in the General Petroleum Sand, further strengthen our strategic position,\" commented Directo...