Trans Canada Gold Corp. Announces Steady Oil Production and New Drilling Initiatives

Trans Canada Gold Corp. has completed its tenth consecutive month of robust oil production in July 2024. The company successfully sold oil to Altex and Cenovus Energy Ltd.

Since October 2023, the Croverro 7HZ Well has produced over 60,000 barrels of oil. This well features seven multilateral legs, optimizing oil extraction.

Trans Canada is preparing to drill its second multilateral horizontal well in the General Petroleum (GP) Zone. This well aims to contact over 8,000 meters of GP oil reservoir, with surface preparations currently underway.

Recently, the company acquired additional lands, potentially enabling the drilling of four more multilateral wells. These acquisitions are expected to boost oil production and revenue.

CEO Tim Coupland noted the significance of the tenth month of steady production, and Director Chris Timmins emphasized the strategic importance of recent land acquisitions and seismic data in de-risking the upcoming drill program.