Trans Canada Gold Corp. Completes Eight Full Months of Oil Production

Trans Canada Gold Corp. has announced the completion of its eighth full month of steady oil production from its Lloydminster multilateral horizontal heavy oil well. For the month of May, the company shipped 6,203 barrels of oil, with an average daily production rate of 185 barrels per day (gross), equating to 37.5 barrels per day net to the company, which holds an 18.75% working interest ownership.

Production and sales from the 7HZ well commenced on October 6, 2023, and have now surpassed the 50,000-barrel production benchmark, achieving over 51,439 barrels of oil. This milestone underscores the efficacy of the company’s multilateral drilling approach.

Looking ahead, Trans Canada Gold Corp. has strengthened its land position by completing two land and lease acquisitions through a Farmout Agreement dated November 1, 2022. The company plans to drill a new multilateral well to tap into over 3,000 meters of oil reservoir in the General Petroleum sand, pending final permitting from the Alberta Energy Regulator.