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Trans Canada Gold Corp. Places Second Successfully Drilled Multilateral Heavy Oil Well on Production Near Lloydminster, Alberta
VANCOUVER, BC / ACCESSWIRE / September 17, 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. Places Second Successfully Drilled Multilateral Heavy Oil Well on Production Near Lloydminster, AlbertaVANCOUVER, BC / ACCESSWIRE / September 17, 2024 / Trans Canada Gold Corp. (TSX-V:TTG)(OTCQB:TTGXF) (\"Trans Canada\" or the \"Company\") is pleased to announce that it has successfully placed the second newly drilled multilateral well on production. The second multilateral well was just successfully drilled in August and September and all legs were successfully drilled in the GP reservoir. The Operator has finished battery construction and successfully completed the well. The well started production on September 7th and is currently recovering drilling fluid with increased oil recovery percentage. The Company encountered oil in the GP reservoir target zones of interest and oil production rates will be released shortly once production has stabilized. The Company has an 18.75% interest in the well and Area of Mutual Interest (AMI). Croverro Energy Ltd., under the terms of the agreement, is the Operator. Precision Rig 145 Second Multilateral Well Placed on Production: Trans Canada Gold has successfully placed its second drilled multilateral well in the GP reservoir on production as of September 7th, 2024. The well is currently recovering drilling fluid with increasing oil recovery. Oil production rates will be released once the well stabilizes.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 successfully drilled our second multilateral well, showcasing both drilling and production expertise in both the Sparky and GP reservoir sands in Lloydminster area. We will be releasing the new well's daily production rates shortly once the rates have been established and stabilized. The Croverro Team has again demonstrated proficiency and efficiency of an experienced oil and gas technical team that has consistent, proven oil production success with multi-lateral wells under their supervision and operation.\"ABOUT TRANS CANADA GOLD CORP. - OIL AND GAS PRODUCTION/REVENUE PRO...