Business
Trans Canada Gold Corp. Ships 5,183 Barrels for the Month of January 2025, From Both of Its Lloydminster Multilateral Heavy Oil Wells
VANCOUVER, BC / ACCESS Newswire / February 6, 2025 / Trans Canada Gold Corp. (TSXV:TTG)(OTC...
About this update from Trans Canada Gold Corp
[{"type":"text","content":"Trans Canada Gold Corp. Ships 5,183 Barrels for the Month of January 2025, From Both of Its Lloydminster Multilateral Heavy Oil WellsVANCOUVER, BC / ACCESS Newswire / February 6, 2025 / Trans Canada Gold Corp. (TSXV: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 January 2025, with trucking and oil sales to Altex. The two Lloydminster wells have shipped 5,376 barrels (bbl) for the month of January and produced at an average daily rate of 168.5 bbl/d gross (31.5bbl/d net) to the Company since being placed on production, representing its 18.75% working interest ownership in both wells. 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.Croverro has set a 2025 preliminary budget, which is currently under review by management, with one Multilateral Sparky well forecasted to be drilled for summer 2025. The proposed well is expected to be identical to the original Sparky well drilled by the Company in October 2023. The Company is currently monitoring oil prices, and the newly proposed new U.S. tariff threat, and will react accordingly to any price swings.Croverro has proactively implemented a range of repair solutions on the newly drilled GP well blocked at the intermediate casing, including multiple Super Flushes on the well. Croverro remains optimistic about resuming operations and restoring production once the Alberta extreme cold weather conditions improve and the repair plan is fully implemented.Commented Tim Coupland, \"We are expecting steady oil production for 2025, and are exploring additional exploration drilling opportunities in both central Canada and the United States and the Company will continue with its newly adopted multilateral well drilling strategy for 2025-2026 using new state of the art multilateral well drilling techniques in Alberta and Saskatchewan, to create growth.\"ABOUT TRANS CANADA GOLD CORP. - OIL AND GAS PRODUCTION/REVENUE PRODUCING WELLSThe Company is a discovery focused Oil & Gas Resource Development and Mineral Exploration Company that is currently focused on developing and drilling its' production of convent...