Trans Canada Gold Corp successfully drilled oil in a well near Lloydminster.
The company made the announcement following the successful drilling and completion of all legs of the newly drilled multilateral well on the company’s heavy oil properly near the border city.
The company encountered oil in all target zones of interest in the GP sands.
“Both weather and drilling conditions were ideal during August, and we are excited to be completing and equipping our second successful multi-leg multilateral well and look forward to the additional drilling opportunities that may be available in the immediate area,” said Trans Canada Gold Corp president and CEO Tim Coupland.
The well is expected to be placed on full oil production shortly, and once it’s fully equipped, oil production rates will be released.
The company received all required drill permits and has completed all surface drilling operations.
Croverro Energy Ltd. will be the operator under the terms of the agreement.
Read More: Second well drilling starts near Lloydminster
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