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 [...]
Prospera Energy Inc. Private Placement Prospera Energy Inc. announces it is expecting to close the first tranche of its non-brokered unit offering, for total proceeds of $500,000. Each unit, priced at $1,000 per unit, consists of: a one-year secured promissory note with a principal amount of $1,000, carrying a 12% annual interest rate, and 5,000 common share purchase warrants of the Corporation exercisable at $0.05 for a [...]
Prospera Energy Inc. Prospera Energy Inc. is pleased to announce its operating and financial results for the three and nine months ended September 30th, 2024. Selected financial and operating information should be read in conjunction with Prospera's unaudited consolidated financial statements and related management's discussion and analysis for the three and nine months ended September 30, 2024. These filings are [...]
Prospera Energy Inc. Prospera Energy announces that Jasdip Dhaliwal and Samuel David have both resigned from the Board of Directors for personal reasons, effective immediately. The Board expresses its gratitude for their contributions to the company. About Prospera Prospera Energy Inc. is a publicly traded Western Canadian energy company focused on exploring, developing, and producing oil and gas assets, with an emphasis [...]
Prospera Energy Inc. Prospera announces the opportunistic appointment of Mr. Shubham Garg as Chairman of the Board of Directors. Previous Chairman, Mr. Mel Clifford has stepped down from the Board of Directors for personal reasons, effective October 31, 2024. The Board and Prospera express their sincere gratitude to Mr. Clifford for his dedication and contributions to PEI's restructuring efforts out of bankruptcy. The [...]
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