Trans Canada prepares for upcoming fall multilateral drilling program

Trans Canada Gold Corp received all formal approval from the AER for its Lloyd 5-23-49-1W4 well with the issuance of its well license and drill permit for its upcoming new seven-leg multilateral well and drill program near Lloydminster, Alberta.

The company has agreed to participate to drill a seven-leg Sparky multilateral well with Croverro as operator for the joint venture. The proposed 5-23 multilateral well will be situated adjacent to the company’s successful 12-14 multilateral well near Lloydminster.

This third multilateral horizontal well is expected to be similar to the company’s 7HZ LLOYD 12-14-49-01W4 well that was drilled in 2023 and encountered 2486 m of oil pay in the Sparky Oil Formation. The 12-14 Sparky multilateral well has now produced over 114,000 barrels of oil and continues to produce consistently month over month.

The newly permitted 5-23 multilateral well, when drilled, is planned to open an estimated 3000 m of Sparky Formation. The well is scheduled to be drilled later this fall subject to stable oil pricing and rig availability.