Trans Canada Gold Corp. Ships 2,886 Barrels for the Month of May, From Its Lloydminster Multilateral Heavy Oil Well and Prepares for Upcoming Drilling Program
The company is announcing the resignation of Christian Timmins as a member of the Board of Director's, with his decision pursue and focus on Pegasus Resources due to time commitment obligations. The Board wishes to thank Mr. Timmins for his contributions to the Company.
DRILL PERMIT AND WELL LICENSE APPROVED
The Company has now received formal approval for its new Lloyd 5-23-49-1W4 Well with the issuance of its well license and drill permit for the new 7 leg-multilateral well and drill program situated near Lloydminster, Alberta.
The Company has agreed to participate to drill a 7 leg Sparky multi-lateral well with Croverro as operator for the Joint Venture. The newly proposed 5-23 multilateral well will be situated adjacent to the Company's successful 12-14 Multilateral Well, near Lloydminster, Alberta. Trans Canada has a 18.75% interest in the new well. This third multi-lateral horizontal well is expected to be similar to the company's successful 7HZ LLOYD 12-14-49-01W4 well, that was drilled in 2023 and encountered 2486 metres of oil pay in the Sparky Oil Formation. The 12-14 Sparky multilateral well has now produced over 100,000 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 summer subject to rig availability.
Drilling, completion and equipping costs are expected to be $1.9 million ($350,000 net to Trans Canada). The well costs are fully funded out of production cash flow thereby preventing any share dilution.
Commented Tim Coupland, 'We continue to focus on continued multilateral drilling success in the Sparky Zone, while navigating increased market volatility and lower energy prices in the oil sector. The company remains mindful of the current uncertainty within energy sector including tariff pressures and energy policy direction. We are expecting increased oil production for 2025 with our upcoming drill programs, and we are exploring additional exploration drilling and acquisition opportunities in both central Canada and the United States. The Company will continue with its newly adopted multilateral well drilling strategy for 2025-2026", using new state of the art multilateral well drilling techniques in Alberta and Saskatchewan, to create growth'.
ABOUT TRANS CANADA GOLD CORP. - OIL AND GAS PRODUCTION/REVENUE PRODUCING WELLS
The Company is a discovery focused Oil & Gas Resource Development and Mineral Exploration Company that is currently focused on developing and drilling its' production of conventional heavy oil exploration properties, increasing production capabilities, and increasing future oil production revenues through responsible exploration. The Company identifies, acquires and finances with its working interest partners, the ongoing development of oil and gas assets primarily situated in Alberta Canada. The Company has qualified Senior exploration management and Geological teams of professionals, seasoned in exploration production, field exploration and drilling. The Company currently works with Croverro Energy Ltd., who has demonstrated proficiency, expected of an experienced oil and gas technical team that has proven oil production, and revenue success with large multi-lateral wells currently under their supervision. The Company has the necessary manpower in place to develop its natural resource properties and manage its production properties. The Company is committed to minimizing risk through selective property acquisitions, and responsible exploration drilling, and maximizing long term petroleum and natural gas resource assets.
FOR FURTHER INFORMATION, PLEASE CONTACT:
Tim Coupland, President and CEO
Trans Canada Gold Corp.
Tel: (604) 681-3131
[email protected]
www.transcanadagold.com
Neither the TSX Venture Exchange nor its Regulation Services Provider, (as the term is defined in the Policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE: Trans Canada Gold Corp.
press release
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Business Upturn
an hour ago
- Business Upturn
Traction Uranium Announces LIFE Offering for up to C$833,400
By GlobeNewswire Published on July 26, 2025, 04:59 IST NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES CALGARY, Alberta, July 25, 2025 (GLOBE NEWSWIRE) — Traction Uranium Corp. (CSE: TRAC) (FRA: Z1K) (the 'Company' or 'Traction') is pleased to announce that it intends to complete a private placement financing (the 'Offering') of units (each, a 'Unit') at a price of C$0.18 per Unit, with each Unit being comprised of one common share (each, a 'Share') and one Share purchase warrant ('Warrant'). Each Warrant will be entitling the holder to purchase one Share at a price of C$0.24 during the period between the date that is 60 days from Closing (as defined below) and the date that is 24 months from Closing. Closing of the Offering is anticipated to occur on or about August 8, 2025 ('Closing'). The Company notes that it will only complete the Offering if it is able to place a minimum of 2,777,777 Units for gross minimum proceeds of C$500,000. Subject to compliance with applicable regulatory requirements and in accordance with National Instrument 45-106 – Prospectus Exemptions ('NI 45-106'), the securities issuable under the Offering will be offered for sale to purchasers resident in all of the provinces of Canada (except Quebec) pursuant to the listed issuer financing exemption under Part 5A.2 of NI 45-106 (the 'LIFE Exemption'). As such, the securities issued to subscribers will not be subject to resale restrictions in accordance with applicable Canadian securities laws. There is an offering document dated July 25, 2025 related to the Offering that can be accessed under the Company's profile at and on the Company's website at The offering document contains further details regarding the Offering, including additional detail regarding the expected use of proceeds therefrom. Prospective investors in the Offering should read this amended and restated offering document before making an investment decision. The Company further announces that it has entered into a second amending agreement (the 'Amending Agreement') with the optionor for the Hearty Bay Project which amends certain terms of the mineral property option agreement dated December 9, 2021, as amended by the first amending agreement dated February 28, 2023 (the 'Option Agreement'). See the news release of the Company dated December 10, 2021 for more information concerning the Hearty Bay Project and the Option Agreement. Pursuant to the Amending Agreement, the optionor has agreed to extend the due date of certain cash payments payable by the Company, as well as the deadline by which the Company is to incur certain exploration expenditures under the Option Agreement by a year, in consideration for the issuance of an additional 400,000 common shares (the 'Consideration Shares') of the Company to the optionor. The Consideration Shares shall be subject to a four-month hold. The securities described herein have not been and will not be registered under the United States Securities Act of 1933, as amended (the 'U.S. Securities Act'), or any United States state securities laws, and may not be offered or sold in the United States or to, or for the account or benefit of, United States persons absent registration or any available exemption from the registration requirements of the U.S. Securities Act and applicable United States state securities laws. This press release does not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. ABOUT TRACTION URANIUM CORP. Traction Uranium Corp. (CSE: TRAC) (FRA: Z1K) is in the business of mineral exploration and the development of discovery prospects in Canada, including its uranium project in the world-renowned Athabasca Region. We invite you to find out more about our exploration-stage activities across Canada's Western region at On Behalf of The Board of Directors Paul GormanChief Executive Officer (604) 425-2271 [email protected] FORWARD-LOOKING STATEMENTS Certain statements contained in this press release constitute forward-looking information. These statements relate to future events or future performance. The use of any of the words 'could', 'intend', 'expect', 'believe', 'will', 'projected', 'estimated' and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the Company's current belief or assumptions as to the outcome and timing of such future events. In particular, this press release contains forward-looking information relating to, among other things, the Offering, including the total amount of securities sold to the offering, anticipated proceeds, the expected use of proceeds, satisfaction of conditions to closing, and the closing (including the proposed closing date) of the Offering, if it is to close at all, as well as the acceptance by the Exchange of the Amending Agreement. Various assumptions or factors are typically applied in drawing conclusions or making the forecasts or projections set out in forward-looking information, including the assumption that the Company will close the Offering on the timeline anticipated, or at all, will raise the anticipated amount of gross proceeds from the Offering, will use the proceeds of the Offering as anticipated and that the Exchange will accept the Amending Agreement. Those assumptions and factors are based on information currently available to the Company. Although such statements are based on reasonable assumptions of the Company's management, there can be no assurance that any conclusions or forecasts will prove to be accurate. Forward-looking information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information. Such factors include: the risk that the Offering does not close on the timeline expected, or at all; the risk that the Company raises less than the anticipated amount of gross proceeds from the Offering; the risk that the Company does not use the proceeds from the Offering as currently expected; the risk that Exchange approval of the Amending Agreement will not be obtained; risks inherent in the exploration and development of mineral deposits, including risks relating to receiving requisite permits and approvals, changes in project parameters or delays as plans continue to be redefined, that mineral exploration is inherently uncertain and that the results of mineral exploration may not be indicative of the actual geology or mineralization of a project; that mineral exploration may be unsuccessful or fail to achieve the results anticipated by the Company; operational risks; regulatory risks, including risks relating to the acquisition of the necessary licenses and permits; financing, capitalization and liquidity risks; title and environmental risks; and risks relating to the failure to receive all requisite regulatory approvals. The forward-looking information contained in this release is made as of the date hereof, and the Company is not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Because of the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward-looking information. The foregoing statements expressly qualify any forward-looking information contained herein. The Canadian Securities Exchange has not reviewed, approved, or disapproved the contents of this press release. Disclaimer: The above press release comes to you under an arrangement with GlobeNewswire. Business Upturn takes no editorial responsibility for the same. Ahmedabad Plane Crash GlobeNewswire provides press release distribution services globally, with substantial operations in North America and Europe.
News24
4 hours ago
- News24
FlySafair foreign ownership dispute lands in court as deadline looms
Safair launched a legal challenge against the sanction that was imposed on it because of its foreign ownership structure. Be among those who shape the future with knowledge. Uncover exclusive stories that captivate your mind and heart with our FREE 14-day subscription trial. Dive into a world of inspiration, learning, and empowerment. You can only trial once. Start your FREE trial now Show Comments ()
Yahoo
5 hours ago
- Yahoo
1 Magnificent Canadian Energy Stock Down 22% to Buy and Hold for Decades
Written by Andrew Walker at The Motley Fool Canada Canadian Natural Resources (TSX:CNQ) saw its share price take a hit over the past year as oil prices fell from their 2024 highs. Investors who missed the bounce off the April low are wondering if CNQ stock is still undervalued and good to buy for a self-directed Tax-Free Savings Account (TFSA) or Registered Retirement Savings Plan (RRSP) focused on dividends and total returns. Canadian Natural Resources stock price CNRL trades near $43 per share at the time of writing. The stock is down from a high around $55 last year. It slipped as low as $35 during the market rout a few months ago. CNRL is a giant in the Canadian energy patch. The company owns a diversified portfolio of assets, including oil sands, conventional heavy oil, conventional light oil, offshore oil, natural gas liquids, and natural gas production and reserves. CNRL is typically the sole owner or majority owner of its businesses. This gives management the flexibility to quickly move capital around the portfolio to take advantage of positive shifts in commodity prices. In addition, CNRL's size and strong balance sheet enable the company to make large strategic acquisitions at opportune times to boost earnings and reserves. For example, the company spent US$6.5 billion in 2024 to buy the Canadian assets owned by Chevron. CNRL says its breakeven West Texas Intermediate (WTI) oil price is around US$40 to US$45 per barrel. At the time of writing, WTI trades near US$66 per barrel. That's down from more than US$80 last year, but still at a level where CNRL can generate decent margins. The large natural gas division provides a good hedge against lower oil prices. Natural gas prices are higher in 2025 than they were through most of the past two years. Oil market outlook Aside from brief spikes due to geopolitical events, the price of oil has trended lower over the past year. This is due to weak demand from China and concerns that tariffs imposed by the United States will lead to a recession in the American and global economies. At the same time, OPEC intends to increase supply to regain lost market share. Non-OPEC producers, including Canada and the United States, are also increasing production. As such, analysts widely expect oil prices to remain under pressure through the rest of 2025 and into 2026. That being said, a major geopolitical disruption in the Middle East or an announcement of a concrete trade deal between the U.S. and China could push oil prices higher as traders adjust demand and supply expectations. Dividends CNRL raised its dividend in each of the past 25 years. This is a great track record for a business that relies on commodity prices to determine its margins. Investors who buy CNQ stock at the current level can get a dividend yield of 5.5%. The company continues to generate solid earnings through increased production from acquisitions and the drilling program. This should support ongoing dividend growth. Time to buy? Near-term volatility is expected and the stock could easily retest the 2025 low if trade negotiations between the U.S. and its largest trading partners go off the rails. That being said, dividend investors might want to start nibbling on the stock at this price point and look to add to the position on further weakness. At the current yield, you get paid well to ride out some turbulence. The post 1 Magnificent Canadian Energy Stock Down 22% to Buy and Hold for Decades appeared first on The Motley Fool Canada. Should you invest $1,000 in Canadian Natural Resources right now? Before you buy stock in Canadian Natural Resources, consider this: The Motley Fool Stock Advisor Canada analyst team just identified what they believe are the Top Stocks for 2025 and Beyond for investors to buy now… and Canadian Natural Resources wasn't one of them. The Top Stocks that made the cut could potentially produce monster returns in the coming years. Consider MercadoLibre, which we first recommended on January 8, 2014 ... if you invested $1,000 in the 'eBay of Latin America' at the time of our recommendation, you'd have $24,927.94!* Stock Advisor Canada provides investors with an easy-to-follow blueprint for success, including guidance on building a portfolio, regular updates from analysts, and two new stock picks each month – one from Canada and one from the U.S. The Stock Advisor Canada service has outperformed the return of S&P/TSX Composite Index by 30 percentage points since 2013*. See the Top Stocks * Returns as of 6/23/25 More reading 10 Stocks Every Canadian Should Own in 2025 3 Canadian Companies Powering the AI Revolution A Commonsense Cash Back Credit Card We Love The Motley Fool recommends Canadian Natural Resources. The Motley Fool has a disclosure policy. Fool contributor Andrew Walker has no position in any stock mentioned. 2025 Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
