Trans Canada Gold Corp: Drilling to start shortly in Alberta
Trans Canada Gold Corp has announced that the Alberta Energy Regulator has issued a drilling permit, and Croverro has started building the second multilateral drilling location on the project lands near Lloydminster, Alberta. The company expects drilling to commence shortly.
This second multi-lateral horizontal well is based on similar wells drilled in the GP oil formation using surrounding well control combined with recently processed seismic lines. The new multilateral well is expected to contact over 8,000 m of GP oil reservoir.
“We believe drilling multilateral horizontal wells with good well control and utilizing new computer modeling and seismic techniques will provide continued success,” said Trans Canada President & CEO Tim Coupland.
The lands for the well are currently controlled by a partnership led by Croverro with the company holding 18.75% interest. Croverro Energy, under the terms of the agreement, will be the Operator. Drilling completion and equipping costs are expected to be $2.2 million for the well ($412,500 net to Trans Canada).
