Trans Canada Gold Corp. Collaborates with Croverro Energy for New Oil Well

Trans Canada Gold Corp. has announced its collaboration with Croverro Energy Ltd. to drill a new multi-lateral horizontal heavy oil well in Alberta. Situated next to the company's previously successful 12-14 Multilateral Well, the new 5-23 well represents a significant expansion in the Sparky Oil Formation.

The company will hold an 18.75% interest in the well, which aims to access 3000 meters of the Sparky formation. Set for drilling in the third quarter of 2025, the project anticipates costs of $1.9 million, with Trans Canada's share fully financed through production cash flow.

Croverro Energy, serving as the operator, has expertise in utilizing seismic lines and advanced computer modeling, crucial for this ambitious venture. The strategic move aligns with Trans Canada's goals to bolster production alongside a reliable partner as global oil prices remain stable.