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Trans Canada Gold ( (TSE:TTG) ) just unveiled an announcement.
Trans Canada Gold Corp. has announced the sale of its 18.75% interest in a non-performing well and associated petroleum rights for $100,000 CDN to its working interest partners. This strategic move allows the company to focus on the more promising Sparky zone, aiming for greater operational efficiency and cost reduction. The company plans to commence drilling a new multilateral well in the Sparky Formation in summer 2025, which is expected to enhance oil production and provide long-term value despite market volatility and energy sector uncertainties.
More about Trans Canada Gold
Trans Canada Gold Corp. is a discovery-focused Oil & Gas Resource Development and Mineral Exploration Company. It is dedicated to developing and drilling conventional heavy oil exploration properties, enhancing production capabilities, and increasing future oil production revenues through responsible exploration. The company collaborates with working interest partners to identify, acquire, and finance the development of oil and gas assets.
YTD Price Performance: -20.0%
Average Trading Volume: 41,117
Technical Sentiment Signal: Buy
Current Market Cap: C$2.05M
See more insights into TTG stock on TipRanks’ Stock Analysis page.