Prospera Energy Inc. Service Rig Update Prospera Energy completed a total of thirty-two workovers and reactivations in Q1 2025 before releasing service rigs for spring break-up on March 20th. This included sixteen service rig jobs in Hearts Hill, eleven jobs in Luseland which consisted primarily of high-impact reactivations, and five jobs in Cuthbert. The Corporation will release further information in the March [...]
Prospera Energy Inc. White Tundra Acquisition Prospera Energy is pleased to announce a strategic acquisition aimed at expanding its asset portfolio of low-decline base production with significant production upside. The Corporation has entered into an agreement to acquire 100% of the issued and outstanding common shares of White Tundra Petroleum . WTP's assets produce 30° API medium oil and are located near Loyalist and [...]
Prospera Energy Inc. Prospera Energy remains committed to providing stakeholders with transparent, timely, and data-driven updates on operational performance and field developments. This monthly report delivers key insights into the company's production trends, optimization initiatives, and strategic advancements. All production figures represent the Company's gross sales, reported in accordance with NI 51-101 and [...]
Prospera Energy Inc. Prospera Energy Inc. is pleased to announce its 2024 year-end reserves, highlighting significant growth in Proven Developed Producing and Total Proved plus Probable reserves. The reserves and future net revenue of the Corporation were prepared by InSite Petroleum Consultants Ltd. , an independent qualified reserves evaluator, in accordance with the Canadian Oil and Gas Evaluation Handbook standards [...]
Prospera Energy Inc. announces that the company's Chief Executive Officer, Samuel David, is no longer employed with the company, effective immediately. Mr. David resigned from the Board of Directors, effective November 18, 2024. The Board, consisting of Brian McConnell, Mark Lacey, Matthew Kenna, and Executive Chairman Shubham Garg will lead the company's strategic vision and business plan going forward, supported by CFO [...]
Prospera Energy Inc. Prospera is refining its production reporting process to provide greater consistency and enhanced transparency for shareholders. Moving forward, Prospera will apply the following standardized definitions in all production reporting: Gross Production: Represents Prospera Energy's working interest before the deduction of royalties, excluding any royalty interests held by Prospera Energy. Net Production [...]
Prospera Energy Inc. Loan Amendment Update The Corporation is pleased to announce the amendment of its $12,200,000 promissory note, originally dated July 7th, 2024, in collaboration with its principal lender. As part of this amendment, an additional $750,000 has been added to the principal balance, increasing the total to $12,950,000 as of January 23rd, 2025. The original terms of the note remain unchanged, including a [...]
Prospera Energy Inc. This report continues Prospera's monthly production updates, ensuring stakeholders receive consistent and timely insights into operational performance and key field developments. All production numbers referenced are sales numbers of the Company at its current working interest, pre-royalties. However, the company continues to receive revenue for JV partners in default in both its Cuthbert and Brooks [...]
Prospera Energy Inc. Leadership Appointment Prospera announces the appointment of Darren Jackson as its Chief Operating Officer effective January 1st, 2025. Darren will oversee the company's day-to-day operations, strategic initiatives, regulatory compliance, field optimization programs, and drive operational excellence. Darren brings over 25 years of expertise in the oil and gas industry, offering a wealth of knowledge [...]
On January 7, 2025, Vittorio Valsecchi, through Valsecchi Immobilien AG, a company under Mr. Valsecchi's control and direction, acquired 1,200,000 common shares of Prospera Energy Inc. ; ; at a price of approximately C$0.035 per Common Share for an aggregate purchase price of C$42,489.42 . The purchased Common Shares were acquired through the facilities of the TSX Venture Exchange. Prior to the Acquisition, Mr. Valsecchi [...]
Prospera Energy Inc. Loan Amendment Update The Corporation announces that it has amended its $11,000,000 promissory note, originally dated July 7, 2024, in collaboration with its principal lender. The principal balance, which was previously increased by $500,000 to $11,500,000, has now been further increased by an additional $700,000, bringing the total principal amount to $12,200,000 as of December 16, 2024. The note [...]
Prospera Energy Inc. Prospera Energy is pleased to announce the completion and continuation of production optimization activities in its heavy oil properties, with both immediate increases in production and bolstering of field uptime and reliability. Five wells have been successfully completed with the service rig out of an eight well program, with a focus on pump changes, rod repairs, and tubing cleanouts. Additionally [...]
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