Trans Canada GOLD Corp. Completes Its Tenth Full Month of Steady Oil Production FOR the Month of July 2024, and Prepares FOR Drilling Its Second Multilateral Well and Targeting 8000 Meters of Gp Oil Reservoir ____________________________________________________________________________________
TRANS CANADA GOLD CORP.
c/o Suite 1200 - 750 West Pender Street ∙ Vancouver ∙ British Columbia ∙ V6C 2T8
Telephone: (604) 681-3131
NEWS RELEASE
August 9th, 2024 TSX-V Trading Symbol: TTG
OTCQB Symbol: TTGXF
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TRANS CANADA GOLD CORP. COMPLETES ITS TENTH FULL MONTH OF STEADY OIL PRODUCTION FOR THE
MONTH OF JULY 2024, AND PREPARES FOR DRILLING ITS SECOND MULTILATERAL WELL AND TARGETING
8000 METERS OF GP OIL RESERVOIR
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VANCOUVER, B.C. – Trans Canada Gold Corp. (TSX-V: TTG, OTCQB -TTGXF) (“Trans Canada” or the
“Company”), is pleased to announce that the Company has now completed its tenth full month of robust
steady oil production for the month of July 2024, with trucking and oil sales to Altex and Cenovus Energy
Ltd. The Company will release the June numbers in the coming days , once finalized. In October 2023,
the Company successfully drilled and completed seven (7) multi-lateral legs of the Company’s first
multilateral well. The Company encountered oil throughout the entire 2675 meters of lateral oil pay in
the Sparky formation. Since drilling inception, the Croverro 7HZ Well has now produced over 6 0,000
barrels of consistent steady oil production. Croverro Energy Ltd. under the terms of the agreement is
the Operator.
The lands for the well are currently controlled by a partnership lead by Croverro with the company
holding 18.75% interest. This second multi-lateral horizontal well is based on similar wells drilled in the
GP oil formation using surrounding well control combined with recently processed seismic lines. The
new multilateral well is expected to contact over 8000 m of GP oil reservoir. Surface preparations are
now in progress, with lease construction expected to be completed by Aug 10 th, 2024. The well is
scheduled to be drilled in mid-August.
The Company has acquired additional lands inside the AMI which will allow the drilling of up to 4
additional multilateral wells. The 320 -acre parcel offset our existing lands to the north were acquired
from Canpar (CN Pension Fund), Freehold Royalties and Rife Resources. The newly acquired lands,
together combined with our existing lands have the oil resource potential in both the Sparky and General
Petroleum (GP) producing zones.
Commented, President & CEO Tim Coupland, “We have now hit the tenth-month of steady oil production
and now exceeded over 60,000 barrels , showcasing production expertise in the Sparky reservoir in
Lloydminster area. With oil prices remaining high, we are excited to be soon releasing our July
production rate s, once the final oil production numbers have been finalized with Croverro, and
confirmed by Altex and Cenovus Energy Ltd. With the completion of the recent land acquisition, we
expect to be drilling our second well on or about Aug 19-22. With global oil prices remaining steady, and
the new TMX pipeline now fully operational, oil prices are forecasted to remain high which will allow the
Company to pursue additional drilling opportunities and new property acquisitions.”
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"With the recent strategic land and lease acquisitions, together with well control and recently obtained
and processed seismic dat a, the upcoming drill program in the General Petroleum Sand has been de -
risked as much as possible. This well will further strengthen our strategic growth position with increased
oil production and increased revenue. Multilateral wells offer the best potential for high initial
production rates, modest decline rates, resulting in a more stable and sustained production level over
time, which enhances our overall production growth strategy.” commented Director Chris Timmins.
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 C ompany 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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