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Trans Canada Gold ( (TSE:TTG) ) has shared an update.
Trans Canada Gold Corp. has received a well license and drill permit for its new Lloyd 5-23-29-1W4 multilateral well near Lloydminster, Alberta. This project, in partnership with Croverro as the operator, involves drilling a seven-leg Sparky multi-lateral well, with Trans Canada holding an 18.75% interest. The new well is expected to open an estimated 3000 meters of the Sparky formation and is scheduled for summer drilling. The project is fully funded from production cash flow, avoiding share dilution, and is part of the company’s strategy to increase oil production in 2025-2026 using advanced multilateral drilling techniques.
More about Trans Canada Gold
Trans Canada Gold Corp. is a discovery-focused Oil & Gas Resource Development and Mineral Exploration Company. It is primarily engaged in developing and drilling conventional heavy oil exploration properties in Alberta, Canada, aiming to increase production capabilities and future oil production revenues through responsible exploration. The company collaborates with Croverro Energy Ltd., leveraging their expertise in oil and gas technical operations, particularly in multilateral well drilling.
Average Trading Volume: 42,877
Technical Sentiment Signal: Sell
Current Market Cap: C$1.8M
See more insights into TTG stock on TipRanks’ Stock Analysis page.