Trans Canada Gold Corp to Commence Drilling Second Multilateral Well Near Lloydminster

Trans Canada Gold Corp has announced that preparations are nearing completion for its second multilateral horizontal heavy oil well near Lloydminster, Alberta. The Alberta Energy Regulator has issued the necessary permits, and Croverro Energy Ltd. has initiated the construction of the drilling site. Drilling operations are set to begin shortly.

The total projected cost for the well is $2.2 million, with Trans Canada's share fully funded at $412,500. Croverro Energy will operate the project, enhancing the venture with its proven expertise and efficient performance in similar operations. The well aims to access over 8000 meters of GP oil reservoir using advanced seismic and computer modeling techniques.

Tim Coupland, CEO, emphasized the significant progress made in surface and pad preparations, expressing confidence in the partnership with Croverro to drive the project to success. Director Chris Timmins lauded the step as crucial for the company’s strategic growth and increased production capabilities.