Trans Canada GOLD Corp. Completes Its Ninth Full Month of Steady Oil Production FOR the Month of June 2024, Shipping Another 5,435 Barrels from Its Lloydminster Multilateral Horizontal Heavy Oil Well and Prepares FOR Drilling Its Second Multilateral Well
TRANS CANADA GOLD CORP.
c/o Suite 1200 - 750 West Pender Street ∙ Vancouver ∙ British Columbia ∙ V6C 2T8
Telephone: (604) 681-3131
NEWS RELEASE
July 15th, 2024 TSX-V Trading Symbol: TTG
OTCQB Symbol: RCTRF
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TRANS CANADA GOLD CORP. COMPLETES ITS NINTH FULL MONTH OF STEADY OIL PRODUCTION FOR THE
MONTH OF JUNE 2024, SHIPPING ANOTHER 5,435 BARRELS FROM ITS LLOYDMINSTER MULTILATERAL
HORIZONTAL HEAVY OIL WELL AND PREPARES FOR DRILLING ITS SECOND MULTILATERAL WELL
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VANCOUVER, B.C. – Trans Canada Gold Corp. (TSX-V: TTG, OTCQB-RCTRF) (“ Trans Canada ” or the
“Company”), is pleased to announce that the Company has now completed its ninth full month of robust
steady oil production for the month of June 2024, with trucking and oil sales to Altex and Cenovus Energy
Ltd. The Lloydminster well has shipped 5,435 barrels (bbl) for the month of June and produced at an
average daily rate of 181 bbl/d gross (34.0 bbl/d net) to the Company since being placed on production,
representing its 18.75% working interest ownership. Production shipping and sales commenced on the
newly drilled well on October 6 th, 2023, and the well has now produced over 56,730 bbl and exceeded
the 50,000-barrel production benchmark of consistent steady oil production with its multilateral well.
Croverro Energy Ltd. is the Operator.
The Company has strengthened its leases and land positions and completed the purchase of two land and
lease acquisitions pursuant to an AMI (“Area of Mutual Interest”) in a Farmout Agreement (“Farmout”)
dated November 1, 2022. This new multilateral well is expected to contact over 3000 meters of oil
reservoir in the General Petroleum Sand. The spud date will be announced shortly, once final permitting
has been received from the Alberta Energy Regulator (“AER”).
Commented Tim Coupland, “We have now successfully produced over nine (9) months of steady oil
production and surpassed the 50,000-barrel production benchmark. With the signing of our latest lease
and completion of the land acquisition, and utilizing our technical proficiency and drilling expertise, we
now look forward to drilling our second multilateral well this summer. The TMX pipeline is now fully
operational, shipping Canadian oil, and world oil prices are forecasted to remain high which will allow
the Company to actively pursue additional drilling opportunities and new acquisitions.”
"Our recent land and lease acquisitions, along with the upcoming multilateral well in the General
Petroleum Sand, further strengthen our strategic position," commented Director Chris Timmins.
"Multilateral wells offer the potential for modest decline rates, indicating a more stable and sustained
production level over time, which enhances our overall production strategy. We continue to seek new
opportunities to grow our drilling inventory and expand our operational footprint. We look forward to
announcing the spud date soon and are confident in the continued growth and success of our operations.”
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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
www.transcanadagold.com
or
Christian Timmins, Director
Trans Canada Gold Corp.
Tel: (403) 597-3410
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