Latest news with #TransCanada
Associated Press
27-05-2025
- Business
- Associated Press
Trans Canada Gold Corp. Receives Well License-Drill Permit for Its New Lloyd 5-23-29-1W4 Multilateral Well From Alberta Energy and Prepares for Summer Drilling
VANCOUVER, BC / ACCESS Newswire / May 27, 2025 / Trans Canada Gold Corp. (TSXV:TTG)(OTCQB:TTGXF) ('Trans Canada' or the 'Company'), is pleased to announce that the Company has now received formal approval for its new Lloyd 5-23-29-1W4 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 well has now produced over 100,000 barrels of oil and continues to produce consistently month over month. The new 5-23 well is planned to open an estimated 3000 m of Sparky formation. The well is scheduled to be drilled this summer. 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. MULTILATERAL DRILLING IN 2025 The Company now has an interest in 1040 acres in the AMI, led by the Croverro Partnership Group, which will allow the drilling of up to two (2) additional multilateral wells targeting the Sparky Zone for 2025-2026. The 320-acre parcel offset our existing lands to the south were acquired by the Croverro Energy Group. The company interest in the lands is 18.75% with all wells to be drilled on a non-promoted basis (pay 18.75% to earn 18.75%). Our operator, Croverro Energy, has acquired and processed 2 additional seismic lines, which combined together with existing well control will allow the more precise targeting in the Sparky Zone when drilling the horizontal wells in the oil resource reservoirs. Commented Tim Coupland, 'We are expecting increased additional oil production for 2025, as we prepare to drill another large Multilateral well. We are always exploring additional exploration drilling opportunities in both central Canada and the United States. The Company will continue with its 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.' DRILLING TO COMMENCE SUMMER 2025 MULTILATERAL WELL-TARGETING SPARKY FORMATION 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 well will be situated adjacent to the Company's 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 well has now produced over 85,000 barrels of oil and continues to produce consistently month over month. The new 5-23 well is planned to open an estimated 3000 m of Sparky formation. The well is scheduled to be drilled this summer/ third quarter of 2025, subject to final permitting by the Alberta Energy Regulator. The company now has an 18.75% working interest in the Joint Venture with Croverro. The Area of Mutual Interest now contains 1040 acres with potential in the Sparky Zone only. This third multi-lateral horizontal well is based on similar wells drilled in the Sparky Oil Formation using surrounding well control and recently processed seismic lines. Croverro Energy Ltd., under the terms of the agreement, is the Operator. 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] or Christian Timmins, Director Trans Canada Gold Corp. Tel: (403) 597-3410 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
Global News
22-05-2025
- Business
- Global News
New report casts doubt on potential revival of Quebec LNG project
Reviving a liquefied natural gas export project in Quebec's Saguenay region would be costly and likely unprofitable, a shareholder advocacy group says, as economic threats from the U.S. rekindle interest across the country in new pipelines. Demand for LNG in Europe dropped by 18 per cent between 2022 and 2024, and Canadian exports would have a hard time competing in Asian markets, says advocacy group Investors for Paris Compliance. 'Investing in infrastructure that will be very expensive and likely won't be profitable will weaken our economy rather than strengthen it,' Renaud Gignac, an economist and senior adviser for the group, said in an interview. In a report published Thursday, Gignac notes LNG production is expected to grow by 40 per cent from 2024 to 2028, driven by projects in the United States and Qatar, and demand is not expected to keep pace. Story continues below advertisement 'This is significant,' Gignac said …. What this means is that the profitability of any new project is compromised because we risk seeing downward pressure on prices.' Get daily National news Get the day's top news, political, economic, and current affairs headlines, delivered to your inbox once a day. Sign up for daily National newsletter Sign Up By providing your email address, you have read and agree to Global News' Terms and Conditions and Privacy Policy A project to transport natural gas from Western Canada to an export terminal in Quebec's Saguenay region was cancelled in 2021 due to environmental risks and public opposition. But Quebec Premier François Legault has recently opened the door to pipeline development in the province, saying Quebecers recognize the importance of reducing the country's dependence on energy exports to the U.S. The advocacy group says inflation could balloon the project's price tag to more than $33 billion, and public money would likely be required. 'These are considerable investments that mobilize public capital and labour as well,' said Gignac, a climate policy analyst. 'When you direct resources to this type of project, you make choices, and we believe there are options that could be more profitable in the long term, for both public and private investors.' U.S. President Donald Trump's threats to impose punishing tariffs on Canadian exports have ignited public debate on the utility of a trans-Canadian pipeline to ship oil or gas overseas. Prime Minister Mark Carney and Quebec's Legault are among those who've chimed in on re-evaluating pipeline projects. 'As initial panic subsides following the Trump administration's tariff threats, a calmer analysis of the East Coast LNG projects show that they carry significant risks for potential investors and taxpayers,' says the report. Story continues below advertisement The analysis did not address the potential revival of an west-east oil pipeline project like Energy East, abandoned by TransCanada in 2017, which would have crossed through Quebec to New Brunswick. But Gignac says the conclusions of such an analysis would be similar. 'There is an imminent forecast of peak demand,' he said. Gignac considers reviving pipeline projects to be 'a false solution' to making the Canadian economy more resilient. The group said there are better ways to stimulate the Canadian economy, including integrating provincial electricity grids and mining critical minerals, which are key for the electrification of transportation and will be needed elsewhere in energy transition. His group's support for mining, however, puts the association at odds with some environmentalists. 'Mining is certainly not without environmental impact,' Gignac said. 'So we will also have to look at the most responsible ways to extract these minerals and bring them to market.' The report also identifies the federal government's plans to build a high-speed train linking Quebec City, Montreal, and Toronto as a promising project.
CBC
13-05-2025
- CBC
RCMP officer shoots woman during disturbance on TransCanada Highway
A woman is in hospital after she was shot by an RCMP officer responding to calls about a disturbance on the TransCanada highway. Officers responded to reports a person was walking in and out of traffic on Highway 1, near Road 88 West at around 9:30 p.m. Monday, police said in a release Tuesday. The first officer who arrived at the scene saw the woman "acting erratically," climbing on vehicles while "brandishing an edge weapon," the release says. Police say the woman ignored the officer's de-escalation attempts, and disregarded repeated commands to drop the weapon. According to the release she turned and quickly moved toward the officer who fired his firearm. The woman, 54, from the RM of North Cypress-Langford, was taken to hospital in stable condition, the release said. The officer was wearing a body camera which was activated when he arrived at the scene, RCMP say. The video will be turned over to the Independent Investigation Unit, the civilian-led agency charged with investigating all serious incidents involving police officers in Manitoba. The incident occurred on the TransCanada west of the town of Carberry, which is about 160 kilometres west of Winnipeg.
Associated Press
30-04-2025
- Business
- Associated Press
Trans Canada Gold Corp. to Sell Its 18.75 % Petroleum and Natural Gas Rights and Interest in the Non-performing 8-23-049-1 W4M GP Well Only, and the GP Petroleum Zone Rights Within the AMI to Its Working Interest Partners
VANCOUVER, BC / ACCESS Newswire / April 30, 2025 / Trans Canada Gold Corp. (TSXV:TTG)(OTCQB:TTGXF) ('Trans Canada' or the 'Company'), is pleased to announce that the Company has agreed to sell to its working interest partners it's 18.75% interest in the recently drilled, non-performing 8-23-049-1 W4M General Petroleum (GP) zone well including all surface and downhole equipment, and GP Petroleum rights within the Area of Mutual Interest (AMI) for $100,000 CDN. Under the terms of the agreement Trans Canada agree to sell its 18.75% interest in the 8-23-049-1 W4M Well and its drilling rights to its working interest partners in the GP Zone only, for the sum of $100,000 CDN, with $75,000 payable immediately and a bonus based on cumulative production of 45,000 barrels of oil for a total price of $100,000 (Purchase Price). The Company has an 18.75% working interest in the Joint Venture with Croverro. The Area of Mutual Interest currently contains 1040 acres with potential in the Sparky and GP zones. The Company has chosen to strategically focus on the prolific Sparky zone when drilling, to allow for greater operational efficiency by de-risking, uneconomic non-performing assets, lower operational costs, and utilizing current cashflow which will allow no further dilution to shareholders, with a commitment oil production success. Commented Tim Coupland, 'We are expecting continued drilling success with the new 5-23 Multilateral Well targeting the Sparky Zone slated for July, and additional increased oil production for 2025 with Croverro. We continue to focus on continued drilling success in the Sparky Zone, while navigating the increased market volatility and expected lower energy prices in the oil and gas energy sector. The Company remains extremely mindful of the current uncertainty within energy sector including tariff pricing pressures and the Canadian election results, which may influence energy policy direction.' The Company continues exploring additional exploration drilling opportunities, despite industry and capital market challenges in both central Canada and the United States. The Company continues with advanced multilateral drilling techniques strategy for 2025-2026 to deliver long term value and production stability.' DRILLING TO COMMENCE SUMMER 2025 MULTILATERAL WELL-TARGETING SPARKY FORMATION 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 well will be situated adjacent to the Company's 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 well has now produced over 85,000 barrels of oil and continues to produce consistently month over month. The new 5-23 well is planned to open an estimated 3000 m of Sparky formation. The well is scheduled to be drilled this summer/ third quarter of 2025, subject to final permitting by the Alberta Energy Regulator. The company now has an 18.75% working interest in the Joint Venture with Croverro. The Area of Mutual Interest now contains 1040 acres with potential in the Sparky Zone only. This third multi-lateral horizontal well is based on similar wells drilled in the Sparky Oil Formation using surrounding well control and recently processed seismic lines. Croverro Energy Ltd., under the terms of the agreement, is the Operator. 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] or Christian Timmins, Director Trans Canada Gold Corp. Tel: (403) 597-3410 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
Associated Press
08-04-2025
- Business
- Associated Press
Trans Canada Gold Corp. Ships 4,558 Barrels for the Month of March 2025, From Both of Its Lloydminster Multilateral Heavy Oil Wells
VANCOUVER, BRITISH COLUMBIA / ACCESS Newswire / April 8, 2025 / Trans Canada Gold Corp. (TSXV:TTG)(OTCQB:TTGXF) ('Trans Canada' or the 'Company'), is pleased to announce that the Company has now completed another month of steady oil production for the month of March 2025, with trucking and oil sales to Altex. The two Lloydminster wells have shipped 4,558 barrels (bbl) for the month of March and produced at an average daily rate of 147 bbl/d gross (28 bbl/d net) to the Company since being placed on production, representing its 18.75% working interest ownership in both wells. Daily production and shipping sales were slightly impaired due to limited access to railcars which resulted in seven lost shipping days via rail. Production shipping and sales commenced on the first newly drilled Multilateral well, a year ago on October 6th, 2023, and the new well was brought on production in mid-September 2024. Croverro Energy Ltd. is the Operator. 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 well will be situated adjacent to the Company's 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 meters of oil pay in the Sparky Oil Formation. The 12-14 Sparky well has now produced over 85,000 barrels of oil and continues to produce consistently month over month. The new 5-23 well is planned to open an estimated 3000 m of Sparky formation. The well is scheduled to be drilled this summer/ third quarter of 2025, subject to final permitting by the Alberta Energy Regulator. The company has an 18.75% working interest in the Joint Venture with Croverro. The Area of Mutual Interest now contains 1040 acres with potential in the Sparky and GP zones. This third multi-lateral horizontal well is based on similar wells drilled in the Sparky Oil Formation using surrounding well control and recently processed seismic lines. Croverro Energy Ltd., under the terms of the agreement, is the Operator. 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. Croverro continues to proactively implemented a range of repair solutions on the newly drilled GP well blocked at the intermediate casing, including multiple Super Flushes on the well. Croverro remains optimistic about resuming operations and restoring lost production. and the repair plan is fully implemented this spring. Commented Tim Coupland, 'We are expecting additional oil production for 2025, and we are exploring additional exploration drilling 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. or Christian Timmins, Director Trans Canada Gold Corp. 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.
