Trans Canada GOLD Corp. Doubles Oil Production Drilling Multilateral Wells, and Ships 9,750 Barrels FOR the Month of October 2024, from Both of Its Lloydminster Multilateral 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
November 7th, 2024 TSX-V Trading Symbol: TTG
OTCQB Symbol: TTGXF
______________________________________________________________________________________
TRANS CANADA GOLD CORP. DOUBLES OIL PRODUCTION DRILLING MULTILATERAL WELLS, AND SHIPS
9,750 BARRELS FOR THE MONTH OF OCTOBER 2024, FROM BOTH OF ITS LLOYDMINSTER MULTILATERAL
HEAVY OIL WELLS
____________________________________________________________________________________
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 another month of robust
steady oil production for the month of October 2024, with trucking and oil sales to Altex . The two
Lloydminster wells have shipped 9,750 barrels (bbl) for the month of October and produced at an
average daily rate of 315 bbl/d gross (59.0 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 first newly drilled Multilateral well, a year ago on October 6 th, 2023, and the new
well was brought on production in mid -September 2024. Both multilateral wells combined have now
produced over 85, 610 bbl, exceeding the 85,000-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 doubled production, successfully produced our two
Multilateral Well program for over a year now, and brought on to production, two Multilateral wells,
with steady oil production and successfully surpassed the 85,000-barrel production benchmark ,
showcasing the Company’s partnership with Croverro Energy. The Company is utilizing its newly adopted
multilateral well drilling strategy using new state of the art multilateral well drilling techniques in Alberta
and Saskatchewan, 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.
The new U.S. Election results will allow the Company to actively pursue and finance additional drilling
opportunities and pursue new acquisitions in 2025.”
"Our production increases combined with recent land and lease acquisitions, and multilateral drilling
success strengthen our newly adopted strategic business model ," commented Director Chris Timmins.
Multilateral wells are the future, they offer the potential for modest decline rates, affording a more
stable and sustained production level over time, lower operational costs . Lower operating costs
enhances our overall production strategy and sustained revenue growth . We continue to seek new
opportunities to grow our 2025 drilling inventory and expand our operational footprint in Alberta.
2
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 prod uction 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
Neither the TSX Venture Exchange nor its Regulation Services Provider, (as the term is defined in the
Policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.