(MENAFN- Investor Ideas) Investorideas , a go-to platform for big investing ideas, reports on trading and news for Trans Canada Gold Corp. (TSXV:TTG.V ), a discovery focused Oil & gas Resource Development and Mineral Exploration Company that is currently focused on developing its' production of conventional heavy oil exploration opportunities, increasing production capabilities and increasing potential future oil production revenues.
The stock is trading at 0.0600, up 0.0150, gaining 33.3333%.
Trans Canada gold Corp. has appointed Christian Timmins to the company's board of directors. Mr. Timmins is an experienced and seasoned oil and gas professional, with over 20 years of hands-on field experience in oil and gas drilling and exploration. Mr. Timmins is experienced in oil and gas operations management, project planning, drilling, oil field servicing and well maintenance, and has worked and collaborated with many oil companies, such as Tourmaline Oil, FMC (previously Pure Energy Services) and IPS Canada, and will be instrumental in the company's future growth. In addition to the appointment, Mr. Timmins will also provide guidance and assist with financial Web-hosted market communications platforms, assist with new advanced communication initiatives, which include advanced on-line branding and awareness, introductions to a wider variety of North American oil and gas retail investors, and institutional brokers, and capital market participants located in the Canadian, United States and world global capital markets.
Christian Timmins commented: "I am honoured to join the Trans Canada team and contribute to its mission of responsible growth and success in the oil and gas industry. With my extensive oilfield experience and network, I am eager to collaborate with the board to drive production revenue, optimize operational efficiency, and explore new drilling and acquisition opportunities that currently exist for growth. The momentum we are building with the successful drilling of the new generation of multilateral wells, which are considered an evolution in drilling in Canada and which allow access to more of the oil reservoir, and the upcoming plans to drill a second multilateral well in July, speaks volumes of the pending revenue and production growth."
Commented Tim Coupland, "We would like to welcome Christian, with his vast oilfield experience and contacts, to our Trans Canada oil and gas team as a new director, and we look forward to Christian assisting the board in incrementally growing our production revenue and increasing our daily production barrels while minimizing operational costs, through drilling of multilateral wells and reviewing additional exploration acquisitions for 2024. The Company is now enjoying steady increased monthly revenues, and has now successfully produced over eight (8) months of steady oil production with its first large multilateral well situated near Lloydminster, Alberta. With the completion of the latest land acquisition, we now look forward to drilling our second multilateral well in mid-summer 2024. With global oil prices steadily increasing and the TMX pipeline now opened and shipping oil, world oil prices are forecasted to remain high, which will allow the Company to pursue additional drilling opportunities and new acquisitions." In connection with his appointment, the Company has granted Mr. Timmins incentive stock options to purchase up to an aggregate of 250,000 common shares of the Company at a price of $0.05 per share exercisable until May 15th, 2029. Further to its news release dated April 23, 2023, the Company has cancelled 450,000 of the options announced in that news release. A total of 2,550,000 options remain in effect, with an exercise price of $0.05 and an expiry date of April 23, 2029.
DRILLING SECOND MULTILATERAL WELL- MID JULY
The Company has successfully completed the purchase of two strategic land and lease acquisitions pursuant to an AMI ("Area of Mutual Interest") in the Croverro Farmout Agreement dated November 1, 2022. The strategic land and lease acquisition will allow the Company to prepare for permitting, lease survey preparations and drilling of a second Multi-Lateral Horizontal Oil Well in the prolific heavy oil region south of Lloydminster, Alberta in mid-July.
The Company continues to explore additional exploration drilling opportunities in Canada and the United States.
ABOUT TRANS CANADA GOLD CORP. - GOLD MINERAL EXPLORATION/ OIL AND GAS PRODUCTION
The Company is a discovery focused Oil & Gas Resource Development and Mineral Exploration Company that is currently focused on developing its' production of conventional heavy oil exploration opportunities, increasing production capabilities and increasing potential future oil production revenues. The Company identifies, acquires and finances the acquisition of gold exploration properties and the ongoing development of mining and oil and gas assets primarily situated in Canada. The Company is currently permitting and developing its Pickle Lake gold exploration property. The Company has qualified Senior exploration management and Geological Mining 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 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 and development of mining, and petroleum and natural gas resource assets.
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