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Trans Canada Gold Corp. Ships 3,919 Barrels for the Month of April 2025, From its Lloydminster Multilateral Heavy Oil Well and Prepares for the Summer Mulitlateral Drilling Program
VANCOUVER, BRITISH COLUMBIA / ACCESS Newswire / May 6, 2025 / Trans Canada Gold Corp. (TSX-V:...
About this update from Trans Canada Gold Corp
[{"type":"text","content":"Trans Canada Gold Corp. Ships 3,919 Barrels for the Month of April 2025, From its Lloydminster Multilateral Heavy Oil Well and Prepares for the Summer Mulitlateral Drilling ProgramVANCOUVER, BRITISH COLUMBIA / ACCESS Newswire / May 6, 2025 / Trans Canada Gold Corp. (TSX-V:TTG)(OTCQB-TTGXF) (\"Trans Canada\" or the \"Company\"), is pleased to announce that the Company has now completed another month of steady oil production for the month of April 2025, with trucking and oil sales to Altex. The Lloydminster multilateral well shipped 3,919 barrels (bbl) for the month of April and produced at an average daily rate of 150 bbl/d gross (25 bbl/d net) to the Company since being placed on production, representing its 18.75% working interest ownership in the well. Daily production and shipping sales were slightly impaired due to two factors, limited access to railcars which resulted in six lost shipping days via rail, and the decision to sell to its working interest partners, it's 18.75% interest in the recently drilled, non-performing 8-23-049-1 W4M General Petroleum (GP) zone well including all surface and downhole equipment, and GP Petroleum rights within the Area of Mutual Interest (AMI) for $100,000 CDN. Production shipping and sales commenced on the first newly drilled Multilateral well, a year ago on October 6th, 2023, and the new well was brought on production in mid-September 2024. Croverro Energy Ltd. is the Operator.DRILLING TO COMMENCE MID - JULYThe Company has agreed to participate to drill a 7 leg Sparky multi-lateral well with Croverro as operator for the Joint Venture in mid-July subject to final permitting. The newly proposed 5-23 multilateral well will be situated adjacent to the Company's successful 12-14 Multilateral Well, near Lloydminster, Alberta. Trans Canada has a 18.75% interest in the new well. This second multi-lateral horizontal well, targeting the Sparky Zone is expected to be similar to the company's successful 7HZ LLOYD 12-14-49-01W4 well, that was drilled in 2023 and encountered 2486 metres of oil pay in the Sparky Oil Formation. The 12-14 Sparky well has now produced over 88,000 barrels of oil and continues to produce consistently month over month. The new 5-23 well is planned to open an estimated 3000 m of Sparky formation. The well is scheduled to be drilled this summer, subject to final permitting by t...