on Trans Canada Gold Corp. (isin : CA8931291063)
Trans Canada Gold Corp. Reports February Oil Shipment
Trans Canada Gold Corp. announced the shipment of 3,763 barrels of oil from its Lloydminster wells for February 2025. Despite seven lost shipping days due to extreme cold, the wells maintained an average daily production of 127 barrels gross, translating to a net 25.2 barrels to the company, aligning with its 18.75% stake. Production and sales to Altex continue steadily.
Plans are underway for a new 7-leg Sparky multi-lateral well near Lloydminster, with drilling expected in Q3 2025. Trans Canada holds an 18.75% interest in this venture with Croverro Energy Ltd., the operator. The projected cost is $1.9 million, fully funded by production cash flow, avoiding share dilution.
Continued efforts at a GP well due to casing blockage are ongoing, with Super Flushes deployed. Croverro remains confident about resuming operations as weather conditions improve.
R. H.
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