Trans Canada Gold Corp. Publishes 2024 Reserves Report

Trans Canada Gold Corp. has unveiled its 2024 reserves report, detailing the performance of its 13-14 and 15-14 Lloyd multi-lateral wells. Prepared by Petrotech & Associates, the report adheres to Canadian evaluation standards and provides insights into reserves, future revenue, and cash flows as of June 30, 2024. Based on Sproule's crude oil price forecast, the evaluation shows the wells' promising output.

The reserves, classified into categories such as proved and probable, highlight significant figures. Proved developed producing reserves stand at 306.5 Mbbl with a net present value (NPV) of $2,249.1 million at a 10% discount rate. The total proved plus probable reserves amount to 579.4 Mbbl with an NPV of $3,895.1 million at the same rate.

CEO Tim Coupland expressed optimism about the multilateral drilling strategy's success, citing increased production and strategic expansion opportunities. The company plans further drilling activities in 2025, aided by favorable political and infrastructure developments in the U.S. and Canada.