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Trans Canada Gold Corp. Starts Equipping and Prepares for the Completion of the Newly Successfully Drilled Multilateral Horizontal Heavy Oil Well, After Encountering Oil in Its Target Zone Near Lloydminster, Alberta
- Completion of Second Multilateral Well: Trans Canada Gold Corp. has started equipping and prepa...
About this update from Trans Canada Gold Corp
[{"type":"text","content":"Trans Canada Gold Corp. Starts Equipping and Prepares for the Completion of the Newly Successfully Drilled Multilateral Horizontal Heavy Oil Well, After Encountering Oil in Its Target Zone Near Lloydminster, Alberta- Completion of Second Multilateral Well: Trans Canada Gold Corp. has started equipping and preparing for the completion of its second multilateral well. Production is expected to start by September 15th, 2024. - Successful Drilling and On-Budget Completion: The well was successfully drilled and completed as planned, targeting oil pay in the GP sands.VANCOUVER, BC / ACCESSWIRE / September 9, 2024 /Trans Canada Gold Corp. (TSX-V:TTG)(OTCQB:TTGXF) (\"Trans Canada\" or the \"Company\"), is pleased to announce that it has started equipping and preparing for the completion of the Company's second newly drilled multilateral well. The well is expected to be on production by September 15th, 2024. The Company successfully drilled and completed all legs of the newly drilled multilateral well on the Company's heavy oil property situated near Lloydminster, Alberta. The Company encountered oil in all of the target zones of interest in the GP sands. The well is expected to be placed on full oil production shortly, and once the well has been completed and fully equipped, oil production rates will be released. The Lloyd Multilateral well was completed as planned and on budget, targeting oil pay in the GP sands. Croverro Energy Ltd., under the terms of the agreement, will be 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 Tim Coupland, \"Warm, sunny and hot August weather has allowed us to move quickly and start equipping, completing our newly drilled well. Our timing and market conditions and current oil pricing will optimize any benefits in the near, and long term, and we are excited to be completing the Company's second successful large multi-leg Multilateral well. The Croverro Team has again demonstrated the proficiency expected of an experienced oil and gas technical team that has consistent, proven oil production succes...