Trans Canada GOLD Corp. Completes One Full Year of Steady Oil Production Drilling Multilateral Wells Exclusively, and Ships 7,900 Barrels FOR the Month of September 2024, from Both of Its Lloydminster Multilateral Horizontal Heavy Oil Wells
TRANS CANADA GOLD CORP.
c/o Suite 1200 - 750 West Pender Street ∙ Vancouver ∙ British Columbia ∙ V6C 2T8
Telephone: (604) 681-3131
NEWS RELEASE
October 8th, 2024 TSX-V Trading Symbol: TTG
OTCQB Symbol: TTGXF
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TRANS CANADA GOLD CORP. COMPLETES ONE FULL YEAR OF STEADY OIL PRODUCTION DRILLING
MULTILATERAL WELLS EXCLUSIVELY, AND SHIPS 7,900 BARRELS FOR THE MONTH OF SEPTEMBER 2024,
FROM BOTH OF ITS LLOYDMINSTER MULTILATERAL HORIZONTAL HEAVY OIL WELLS
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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 first full year (12 months)
of robust steady oil production for the month of September 2024, with trucking and oil sales to Altex .
The Lloydminster wells have shipped 7,900 barrels (bbl) for the month of September and produced at
an average daily rate of 2 63.3 bbl/d gross ( 49.37 bbl/d net) to the Company since being placed on
production, representing its 18.75% working interest ownership in both wells. Production shipping and
sales commenced on the newly drilled well , a year ago on October 6 th, 2023, and the new well being
brought on production in mid- September. Both multilateral wells combined have now produced over
75, 861 bbl, exceeding the 75,000-barrel production benchmark of consistent steady oil production
drilling multilateral wells exclusively. Croverro Energy Ltd. is the Operator.
The Company has acquired additional lands inside the Area of Mutual Interest (“AMI”), which will allow
additional opportunity for multilateral wells in 2025. The lands are contiguous with our existing lands.
The newly acquired lands, together combined with our existing lands have the oil resource potential for
additional drilling in 2025, in both the Sparky and GP producing zones.
Commented Tim Coupland, “We have now successfully produced for over a year now, twelve ( 12)
months of steady oil production and surpassed the 75,000-barrel production benchmark , showcasing
the Company’s partnership with Croverro utilizing its multilateral well drilling strategy using new state
of the art multilateral well drilling techniques to create growth . The Company continues utilizing our
technical proficiency and drilling expertise. World oil prices are forecasted to remain high, with ongoing
conflict in the Middle East, which will allow the Company to actively pursue additional drilling
opportunities and new acquisitions in 2025.”
"Our recent land and lease acquisitions, and multilateral drilling success strengthen our strategic position
and newly adopted strategic business model ," commented Director Chris Timmins. "Multilateral wells
offer the potential for modest decline rates, indicating a more stable and sustained production level over
time, lower operational costs, which enhances our overall production strategy and revenue growth. We
continue to seek new opportunities to grow our 2025 drilling inventory and expand our operationa l
footprint in Alberta and Saskatchewan.
The Company continues to explore additional exploration drilling opportunities in Canada and the United
States.
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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 ex perienced 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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