Welcome to our dedicated page for Trans Canada Gold news (Ticker: TTGXF), a resource for investors and traders seeking the latest updates and insights on Trans Canada Gold stock.
Trans Canada Gold Corp (TTGXF) delivers focused heavy oil production through advanced multilateral well systems in Alberta's proven reservoirs. This news hub provides investors and industry observers with essential updates on operational milestones, strategic partnerships, and resource development initiatives.
Access timely reports on drilling results, production benchmarks, and land acquisitions within the Company's Area of Mutual Interest. Our curated collection features press releases detailing technical achievements in the Sparky/GP zones, operational efficiency improvements, and collaborative projects with Croverro Energy Ltd.
Key updates include quarterly production figures, reservoir development progress, and exploration strategy adjustments. All content undergoes strict verification to ensure compliance with financial reporting standards while maintaining technical accuracy for expert analysis.
Bookmark this page for direct access to verified information about TTGXF's heavy oil operations, drilling innovations, and Canadian energy sector positioning. Check regularly for new developments impacting the company's production capabilities and market presence.
Trans Canada Gold Corp. (TSXV:TTG)(OTCQB:TTGXF) held its Annual Meeting on December 19th, 2024, where shareholders voted on key matters. 43.81% of common shares (22,473,049) voted in favor of director nominees. Shareholders approved the reappointment of Dale Matheson Carr-Hilton Labonte LLP as auditors and the amended 10% rolling stock option plan.
The amended stock option plan includes new provisions requiring TSXV approval for share capital adjustments and disinterested shareholder approval for insider option extensions. The plan maintains a rolling 10% limit of the Company's issued and outstanding share capital at grant date.
Trans Canada Gold is an Oil & Gas Resource Development and Mineral Exploration Company focused on developing conventional heavy oil exploration properties in Alberta, Canada, working with partners like Croverro Energy
Trans Canada Gold Corp. (TTGXF) reported its November 2024 oil production from two Lloydminster multilateral heavy oil wells, shipping 5,197 barrels to Altex. The wells produced at an average daily rate of 183 bbl/d gross (32.48 bbl/d net) based on the Company's 18.75% working interest.
The second well (8-23) targeting the GP zone initially produced over 150 bbl/d but encountered a blockage, leading to temporary shutdown during extreme cold conditions. Croverro Energy, the operator, has implemented repair solutions and is developing a comprehensive repair program.
Croverro has set a 2025 preliminary budget including one Multilateral Sparky well planned for Spring 2025. Additional GP zone wells may be drilled in late 2025 depending on oil prices and repair success of the current GP well.
Trans Canada Gold Corp. (TSXV:TTG)(OTCQB:TTGXF) announces measures to address potential delays in delivering meeting materials for its December 19, 2024 annual general meeting due to the Canada Post strike. Meeting Materials are available on SEDAR+ and will be provided via email upon request. Shareholders can vote by proxy (registered) or through intermediaries (unregistered) until December 17, 2024, at 10:00 a.m. Pacific time. The company focuses on oil and gas resource development in Alberta, working with Croverro Energy on conventional heavy oil exploration properties.
Trans Canada Gold reported operational results for fiscal year 2024, highlighting successful multilateral drilling operations and increased oil production. The company completed two multilateral wells that produced over 85,610 barrels by fiscal year-end, with October 2024 production reaching 9,750 barrels at 315 bbl/d gross. Fiscal year-end revenue from oil production totaled $793,253 CAD, up from $115,881 in the previous year. The wells were completed within budget at $2.2 million CAD each ($412,500 net to Trans Canada). The company expanded its resource potential through strategic land acquisitions and benefits from the operational TMX Pipeline, which improves Canadian crude oil export capacity and pricing.
Trans Canada Gold Corp (TSXV:TTG)(OTCQB:TTGXF) has released its 2024 Independent Reserves report for two Lloyd wells, prepared by Petrotech & Associates. The report shows Total Proved plus Probable reserves of 579.4 Mbbl (gross), with a Net Present Value at 10% discount of $3,895.1 million. The evaluation was conducted using Sproule's June 30, 2024 price forecast for heavy crude oil.
The company has an 18.75% working interest opportunity to participate in drilling 2-3 additional multilateral wells in 2025 with Croverro. The completion of the Trans Mountain Pipeline expansion is expected to eliminate transportation bottlenecks that have historically Western Canada's oil industry growth.
Trans Canada Gold Corp reports successful oil production from its Lloydminster wells, shipping 9,750 barrels in October 2024. The company's two multilateral wells produced at an average daily rate of 315 bbl/d gross (59.0 bbl/d net), reflecting its 18.75% working interest. Combined production from both wells has exceeded 85,610 barrels. The company has acquired additional lands within the Area of Mutual Interest, enabling future multilateral well opportunities in 2025 in both Sparky and GP producing zones. The wells are operated by Croverro Energy
Trans Canada Gold Corp (TSX-V:TTG)(OTCQB:TTGXF) has appointed Christian Timmins as Vice-President of Business Development and Operations. Timmins, a current board member with over 20 years of oil and gas industry experience, will focus on strengthening marketing efforts, driving production growth, and supporting multilateral well development. His role includes managing social media communications and expanding investor relations across North American markets. The company plans to implement new generation multilateral well drilling technology in 2025, aiming for increased revenue and production growth while exploring additional drilling opportunities in Canada and the US.
Trans Canada Gold Corp. (TSX-V:TTG)(OTCQB:TTGXF) has completed its first full year of steady oil production from its Lloydminster multilateral horizontal heavy oil wells. In September 2024, the company shipped 7,900 barrels of oil, with an average daily production rate of 263.3 bbl/d gross (49.37 bbl/d net) to the Company, representing its 18.75% working interest in both wells.
The company has surpassed the 75,000-barrel production benchmark, with combined production from both multilateral wells exceeding 75,861 bbl. Trans Canada has acquired additional lands within the Area of Mutual Interest, providing opportunities for more multilateral wells in 2025 in both the Sparky and GP producing zones.
Management comments highlight the success of the multilateral well drilling strategy and the potential for modest decline rates, indicating stable production levels and lower operational costs. The company plans to pursue additional drilling opportunities and new acquisitions in 2025, leveraging forecasted high world oil prices due to ongoing conflict in the Middle East.
Trans Canada Gold Corp. (TSX-V:TTG)(OTCQB:TTGXF) has completed its eleventh full month of steady oil production in August 2024, shipping 5,207 barrels from its Lloydminster multilateral horizontal heavy oil well. The well has produced at an average daily rate of 168 bbl/d gross (32.0 bbl/d net) to the Company, representing its 18.75% working interest ownership. Since production began on October 6th, 2023, the well has produced over 67,962 barrels, surpassing the 65,000-barrel production benchmark.
The Company has also successfully drilled its second multilateral well in August 2024, targeting the General Petroleum (GP) reservoir. Additionally, Trans Canada has acquired new lands within the Area of Mutual Interest (AMI), providing opportunities for additional multilateral wells in both the Sparky and GP producing zones.
Trans Canada Gold Corp. (TSX-V:TTG)(OTCQB:TTGXF) has successfully placed its second multilateral heavy oil well on production near Lloydminster, Alberta. The well, drilled in August and September, started production on September 7th and is currently recovering drilling fluid with increased oil recovery percentage. Trans Canada has an 18.75% interest in the well and Area of Mutual Interest (AMI).
The company has also acquired additional lands inside the AMI, providing opportunities for more multilateral wells. These new lands, combined with existing holdings, have oil resource potential in both the Sparky and GP producing zones. Production rates will be released once the well stabilizes.
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