Trans Canada Gold Corp. Continues Drilling on Its Second Multilateral Horizontal Heavy Oil Well Near Lloydminster, Alberta

Rhea-AI Summary

Trans Canada Gold Corp. (TSXV:TTG)(OTCQB:TTGXF) has announced 50% completion of drilling on its second multilateral well near Lloydminster, Alberta. The company expects to finish drilling by August 30, 2024, with completion operations scheduled for early September. Precision Drilling is leading the efficient drilling operations. The well, operated by Croverro Energy , is planned for 8 lateral legs in the GP sand. Trans Canada holds an 18.75% interest in the partnership-controlled lands. The company has also acquired additional lands within the Area of Mutual Interest, expanding opportunities for multilateral wells in both Sparky and GP producing zones.

Positive

• 50% completion of drilling on second multilateral well
• Efficient drilling operations expected to finish by August 30, 2024
• Acquisition of additional lands expanding opportunities for multilateral wells
• 18.75% interest in partnership-controlled lands

Negative

• None.

• Progress on Second Multilateral Well: Successfully completed 50% of the drilling on its second multilateral well located on the Company's heavy oil property

• Efficient Drilling Operations: Contractor crews, led by Precision Drilling, are progressing efficiently and are expected to complete drilling by August 30, 2024. Completion operations are scheduled to follow in early September.

VANCOUVER, BC / ACCESSWIRE / August 28, 2024 / Trans Canada Gold Corp. (TSXV:TTG)(OTCQB:TTGXF) ("Trans Canada" or the "Company") is pleased to announce that it has now successfully completed 50% of the drilling on its second Multilateral well on the Company's heavy oil property situated near Lloydminster, Alberta. Croverro Energy Ltd., under the terms of the agreement, will be Operator.

Precision Rig 145

The Contractor crews, headed by Precision Drilling, continue to efficiently drill and are expected to be completed by August 30, 2024, with completion operations to follow in early September. The lands for the well are currently controlled by a partnership led by Croverro, with the Company holding a 18.75% interest. This second multilateral horizontal well is based on well control and newly processed seismic data. The new multilateral well is now planned for 8 lateral legs in the GP sand.

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, "Both weather and drilling conditions have been ideal, and we are excited to be finishing drilling our second multi-leg Multilateral well, and look forward to the additional opportunities that may be available in the immediate area."

The Company continues to explore additional exploration drilling opportunities in Canada and the United States.

ABOUT TRANS CANADA GOLD CORP. - OIL AND GAS PRODUCTION/REVENUE PRODUCING WELLS

The Company is a discovery focused Oil & Gas Resource Development and Mineral Exploration Company that is currently focused on developing and drilling its' production of conventional heavy oil exploration properties, increasing production capabilities, and increasing future oil production revenues through responsible exploration. The Company identifies, acquires and finances with its working interest partners, the ongoing development of oil and gas assets primarily situated in Alberta Canada. The Company has qualified Senior exploration management and Geological teams of professionals, seasoned in exploration production, field exploration and drilling. The Company currently works with Croverro Energy Ltd., who has demonstrated proficiency, expected of an experienced oil and gas technical team that has proven oil production, and revenue success with large multi-lateral wells currently under their supervision. The Company has the necessary manpower in place to develop its natural resource properties and manage its production properties. The Company is committed to minimizing risk through selective property acquisitions, and responsible exploration drilling, and maximizing long term petroleum and natural gas resource assets.

FOR FURTHER INFORMATION, PLEASE CONTACT:

Tim Coupland, President and CEO
Trans Canada Gold Corp.
Tel: (604) 681-3131
astar@telus.com
www.transcanadagold.com

or

Christian Timmins, Director
Trans Canada Gold Corp.
Tel: (403) 597-3410

Neither the TSX Venture Exchange nor its Regulation Services Provider, (as the term is defined in the Policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contact Information

Chris Timmins
Director
ctimmins29@gmail.com
403-597-3410

Tim Coupland
CEO
astar@telus.com
604-681-3131

SOURCE: Trans Canada Gold Corp.

View the original press release on accesswire.com

FAQ

What is the current status of Trans Canada Gold Corp's (TTGXF) second multilateral well drilling?

Trans Canada Gold Corp (TTGXF) has successfully completed 50% of the drilling on its second multilateral well near Lloydminster, Alberta.

When is Trans Canada Gold Corp (TTGXF) expected to complete drilling on the second multilateral well?

Trans Canada Gold Corp (TTGXF) expects to complete drilling on the second multilateral well by August 30, 2024, with completion operations scheduled for early September.

How many lateral legs are planned for Trans Canada Gold Corp's (TTGXF) new multilateral well?

Trans Canada Gold Corp's (TTGXF) new multilateral well is planned for 8 lateral legs in the GP sand.

What is Trans Canada Gold Corp's (TTGXF) interest in the partnership-controlled lands for the new well?

Trans Canada Gold Corp (TTGXF) holds an 18.75% interest in the partnership-controlled lands for the new multilateral well.