Trans Canada Gold Corp. Ships 3,919 Barrels for the Month of April 2025, From its Lloydminster Multilateral Heavy Oil Well and Prepares for the Summer Mulitlateral Drilling Program
Trans Canada Gold Corp. Ships 3,919 Barrels for the Month of April 2025, From its Lloydminster Multilateral Heavy Oil Well and Prepares for the Summer Mulitlateral Drilling Program
Trans Canada Gold Corp (TTGXF) reported shipping 3,919 barrels of oil in April 2025 from its Lloydminster multilateral well, averaging 150 bbl/d gross (25 bbl/d net) based on its 18.75% working interest. The company sold its stake in the underperforming 8-23-049-1 W4M GP zone well for $100,000 CDN. The company plans to participate in drilling a new 7-leg Sparky multi-lateral well (5-23) in mid-July 2025, adjacent to its successful 12-14 well which has produced over 88,000 barrels to date. The new well is expected to open 3,000m of Sparky formation, with drilling costs estimated at $1.9 million ($350,000 net to Trans Canada), funded through production cash flow. The company maintains an 18.75% working interest in the 1,040-acre Joint Venture with operator Croverro Energy Ltd.
Trans Canada Gold Corp (TTGXF) ha riportato la spedizione di 3.919 barili di petrolio nell'aprile 2025 dal suo pozzo multilaterale di Lloydminster, con una media di 150 barili al giorno lordi (25 barili al giorno netti) basata sul suo interesse operativo del 18,75%. La società ha venduto la sua partecipazione nel pozzo GP della zona 8-23-049-1 W4M, che ha avuto prestazioni inferiori alle aspettative, per 100.000 dollari canadesi. La società prevede di partecipare alla perforazione di un nuovo pozzo multilaterale Sparky a 7 rami (5-23) a metà luglio 2025, adiacente al suo pozzo 12-14 di successo che ha prodotto oltre 88.000 barili fino ad oggi. Il nuovo pozzo dovrebbe aprire 3.000 metri della formazione Sparky, con costi di perforazione stimati a 1,9 milioni di dollari (350.000 dollari netti per Trans Canada), finanziati attraverso i flussi di cassa della produzione. La società mantiene un interesse operativo del 18,75% nella Joint Venture di 1.040 acri con l'operatore Croverro Energy Ltd.
Trans Canada Gold Corp (TTGXF) informó el envío de 3,919 barriles de petróleo en abril de 2025 desde su pozo multilateral en Lloydminster, con un promedio de 150 barriles diarios brutos (25 barriles diarios netos) basado en su participación operativa del 18,75%. La compañía vendió su participación en el pozo de la zona GP 8-23-049-1 W4M, que tuvo un desempeño inferior, por 100,000 dólares canadienses. La empresa planea participar en la perforación de un nuevo pozo multilateral Sparky de 7 ramas (5-23) a mediados de julio de 2025, adyacente a su exitoso pozo 12-14 que ha producido más de 88,000 barriles hasta la fecha. Se espera que el nuevo pozo abra 3,000 metros de la formación Sparky, con costos de perforación estimados en 1.9 millones de dólares (350,000 dólares netos para Trans Canada), financiados a través del flujo de caja de la producción. La compañía mantiene un interés operativo del 18.75% en la empresa conjunta de 1,040 acres con el operador Croverro Energy Ltd.
Trans Canada Gold Corp (TTGXF)는 2025년 4월 Lloydminster 다지점 멀티레터럴 우물에서 3,919 배럴의 원유를 출하했다고 보고했으며, 18.75% 작업 지분 기준으로 일일 총 150배럴(순 25배럴)을 기록했습니다. 회사는 성과가 부진한 8-23-049-1 W4M GP 존 우물에 대한 지분을 10만 캐나다 달러에 매각했습니다. 회사는 2025년 7월 중순에 성공적인 12-14 우물 옆에 위치한 7지점 Sparky 멀티레터럴 우물(5-23) 시추에 참여할 계획입니다. 이 새로운 우물은 Sparky 지층 3,000미터를 개방할 것으로 예상되며, 시추 비용은 190만 달러(Trans Canada 순 35만 달러)로 추정되며 생산 현금 흐름을 통해 자금을 조달할 예정입니다. 회사는 운영사인 Croverro Energy Ltd.와 함께 1,040에이커의 합작 투자에서 18.75% 작업 지분을 유지하고 있습니다.
Trans Canada Gold Corp (TTGXF) a déclaré avoir expédié 3 919 barils de pétrole en avril 2025 depuis son puits multilaterale de Lloydminster, avec une moyenne de 150 barils par jour brut (25 barils par jour net) basée sur une participation opérationnelle de 18,75%. La société a vendu sa part dans le puits de la zone GP 8-23-049-1 W4M, sous-performant, pour 100 000 dollars canadiens. Elle prévoit de participer au forage d'un nouveau puits multilaterale Sparky à 7 branches (5-23) à la mi-juillet 2025, adjacent à son puits 12-14 réussi qui a produit plus de 88 000 barils à ce jour. Le nouveau puits devrait ouvrir 3 000 mètres de formation Sparky, avec des coûts de forage estimés à 1,9 million de dollars (350 000 dollars nets pour Trans Canada), financés par les flux de trésorerie de la production. La société détient une participation opérationnelle de 18,75% dans la coentreprise de 1 040 acres avec l'opérateur Croverro Energy Ltd.
Trans Canada Gold Corp (TTGXF) meldete für April 2025 den Versand von 3.919 Barrel Öl aus seinem Lloydminster Multilateral-Bohrloch, mit einem durchschnittlichen Bruttodurchsatz von 150 Barrel pro Tag (netto 25 Barrel pro Tag) basierend auf einem Betriebsanteil von 18,75%. Das Unternehmen verkaufte seine Beteiligung am unterdurchschnittlich performenden Bohrloch 8-23-049-1 W4M GP-Zone für 100.000 kanadische Dollar. Es plant die Teilnahme an der Bohrung eines neuen 7-Arm Sparky Multilateral-Brunnens (5-23) Mitte Juli 2025, angrenzend an den erfolgreichen Brunnen 12-14, der bisher über 88.000 Barrel produziert hat. Der neue Brunnen soll 3.000 Meter der Sparky-Formation erschließen, mit geschätzten Bohrkosten von 1,9 Millionen Dollar (350.000 Dollar netto für Trans Canada), finanziert durch den Produktions-Cashflow. Das Unternehmen hält einen Betriebsanteil von 18,75% an dem 1.040 Acre Joint Venture mit dem Betreiber Croverro Energy Ltd.
Positive
Consistent oil production with 3,919 barrels shipped in April 2025
Successful 12-14 well has produced over 88,000 barrels of oil with consistent monthly production
New well drilling costs fully funded through production cash flow, avoiding share dilution
Strategic sale of underperforming well for $100,000 CDN
Negative
Production impaired by limited railcar access, resulting in six lost shipping days
Sold stake in non-performing 8-23-049-1 W4M GP zone well
Company faces uncertainty due to market volatility, lower energy prices, and potential policy changes
VANCOUVER, BRITISH COLUMBIA / ACCESS Newswire / May 6, 2025 / Trans Canada Gold Corp. (TSX-V: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 April 2025, with trucking and oil sales to Altex. The Lloydminster multilateral well shipped 3,919 barrels (bbl) for the month of April and produced at an average daily rate of 150 bbl/d gross (25 bbl/d net) to the Company since being placed on production, representing its 18.75% working interest ownership in the well. Daily production and shipping sales were slightly impaired due to two factors, limited access to railcars which resulted in six lost shipping days via rail, and the decision to sell to its working interest partners, it's 18.75% interest in the recently drilled, non-performing 8-23-049-1 W4M General Petroleum (GP) zone well including all surface and downhole equipment, and GP Petroleum rights within the Area of Mutual Interest (AMI) for $100,000 CDN. 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.
DRILLING TO COMMENCE MID - JULY
The Company has agreed to participate to drill a 7 leg Sparky multi-lateral well with Croverro as operator for the Joint Venture in mid-July subject to final permitting. The newly proposed 5-23 multilateral well will be situated adjacent to the Company's successful 12-14 Multilateral Well, near Lloydminster, Alberta. Trans Canada has a 18.75% interest in the new well. This second multi-lateral horizontal well, targeting the Sparky Zone is expected to be similar to the company's successful 7HZ LLOYD 12-14-49-01W4 well, that was drilled in 2023 and encountered 2486 metres of oil pay in the Sparky Oil Formation. The 12-14 Sparky well has now produced over 88,000 barrels of oil and continues to produce consistently month over month. The new 5-23 well is planned to open an estimated 3000 m of Sparky formation. The well is scheduled to be drilled this summer, subject to final permitting by the Alberta Energy Regulator.
The company has an 18.75% working interest in the Joint Venture with Croverro. The Area of Mutual Interest now contains 1040 acres with potential in the Sparky zone only. This third multi-lateral horizontal well is based on similar wells drilled in the Sparky Oil Formation using surrounding well control and recently processed seismic lines. Croverro Energy Ltd., under the terms of the agreement, is the Operator.
Drilling, completion and equipping costs are expected to be $1.9 million ($350,000 net to Trans Canada). The well costs are fully funded out of production cash flow thereby preventing any share dilution.
Commented Tim Coupland, "We continue to focus on continued multilateral drilling success in the Sparky Zone, while navigating the increased market volatility and price swings expected with lower energy prices in the oil and gas energy sector. The Company remains extremely mindful of the current uncertainty within energy sector including tariff pressures and the Canadian election results, which may influence energy policy direction. We are expecting increased oil production for 2025 with our upcoming drill programs, and we are exploring additional exploration drilling and acquisition opportunities in both central Canada and the United States. 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".
DRILLING TO COMMENCE SUMMER 2025 MULTILATERAL WELL-TARGETING SPARKY FORMATION
The Company has agreed to participate to drill a 7 leg Sparky multi-lateral well with Croverro as operator for the Joint Venture. The newly proposed 5-23 well will be situated adjacent to the Company's 12-14 Multilateral Well, near Lloydminster, Alberta. Trans Canada has a 18.75% interest in the new well. This third multi-lateral horizontal well is expected to be similar to the company's successful 7HZ LLOYD 12-14-49-01W4 well, that was drilled in 2023 and encountered 2486 metres of oil pay in the Sparky Oil Formation. The 12-14 Sparky well has now produced over 85,000 barrels of oil and continues to produce consistently month over month. The new 5-23 well is planned to open an estimated 3000 m of Sparky formation. The well is scheduled to be drilled this summer/ third quarter of 2025, subject to final permitting by the Alberta Energy Regulator.
The company now has an 18.75% working interest in the Joint Venture with Croverro. The Area of Mutual Interest now contains 1040 acres with potential in the Sparky Zone only. This third multi-lateral horizontal well is based on similar wells drilled in the Sparky Oil Formation using surrounding well control and recently processed seismic lines. Croverro Energy Ltd., under the terms of the agreement, is the Operator.
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.
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.
Trans Canada Gold Corp shipped 3,919 barrels in April 2025, averaging 150 bbl/d gross (25 bbl/d net) based on its 18.75% working interest.
What are Trans Canada Gold's plans for summer 2025 drilling?
The company plans to drill a 7-leg Sparky multi-lateral well (5-23) in mid-July 2025, expected to open 3,000m of Sparky formation, with estimated costs of $1.9 million ($350,000 net to Trans Canada).
How much has TTGXF's 12-14 Sparky well produced to date?
The 12-14 Sparky well has produced over 88,000 barrels of oil and continues to produce consistently month over month.
What is Trans Canada Gold's working interest in the Lloydminster joint venture?
Trans Canada Gold holds an 18.75% working interest in the 1,040-acre Joint Venture with operator Croverro Energy Ltd.
How is TTGXF funding its new well development?
The drilling costs are fully funded through production cash flow, preventing any share dilution.
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