Trans Canada Gold Reports Strong Operational Results and Revenue Growth

Trans Canada Gold Corp. has announced its operational results for the fiscal year ending June 2024, highlighted by significant oil production and revenue increases. The company achieved new production benchmarks through its multilateral well drilling strategy targeting Sparky and General Petroleum reservoirs. Key partnerships, including one with Croverro Energy Ltd., have facilitated these achievements.

The firm drilled its first multilateral well in the Sparky reservoir in October 2023 and its second in the GP reservoir by September 2024, both within budget. The company's responsible growth strategy targets low-risk locations in Alberta and Saskatchewan, maintaining strong working capital.

By fiscal year-end, the two wells produced over 85,610 barrels, with revenue rising to $793,253 CAD from $115,881 CAD the prior year. The TMX Pipeline's completion has boosted market access, enhancing Trans Canada's positioning for future growth.

Strategic land acquisitions expanded their operational footprint, and the company plans to further multilateral drilling efforts. The firm remains committed to sustainable growth through efficient operations and strategic resource management.