Prospera Energy Inc. is pleased to provide an update on progress made on the Pilot Project for Partial Upgrading of Bitumen, in collaboration with Aduro Clean Technologies Inc. . Restructured Prospera continues to increase its asset value by executing its development program to capture the significant remaining reserves. While, engaging in innovative ESG methods to diversify product mix and to improve profit margin, such [...]
Prospera Energy Inc. Prospera announces its second quarter 2023 financial and operating results. In Q2 PEI rebounded to 478 boe/d and net revenue of $3.1M from Q1 production shortfalls caused by extreme cold weather. Prospera is pleased to announce the financial milestones achieved as follows: Realized positive Operating Netback of $1,094,364 in Q2 compared to -$549,618 in the first quarter of 2023. Operating Expenses [...]
Prospera Energy Inc.Prospera Energy Inc. is pleased to announce the mid-August spud of its phase 2 restructured development program intended to increase production. The Phase 2 development entails the drilling of 10 horizontal wells in heavy oil and 8 slanted wells in medium-light oil to accelerate growth and capture the significant remaining reserves . These horizontal laterals and slanted wells will allow PEI to [...]
Prospera Energy Inc. Restructured Prospera continues to create value by enhancing liquidity, capitalization with minimal dilution and by settling legacy arrears. Prospera Energy is delighted to inform its shareholders and the investment community that its common shares are now eligible for book-entry and depositary services through the Depository Trust Company in the United States. As the largest securities depository [...]
Prospera Energy Inc. Prospera announces its first quarter 2023 financial and operating results. Selected financial and operational information outlined below should be read in conjunction with the Company's financial statements and related management's discussion and analysis for the quarter ended March 31, 2023. Prospera is pleased to announce increased working capital by $7,788,265 from various sources of funding as [...]
Prospera Energy Inc. Restructured Prospera momentum accelerates by improving 2022 revenue by 3-fold and operating margin to realize record high cash flow from operations of $5.4million. Prospera is pleased to release its fourth quarter and year-end 2022 financial and operating results. Selected financial and operational information outlined below should be read in conjunction with the Company's financial statements and [...]
Prospera Energy Inc. announces that further to its news release dated April 28, 2023, the Corporation's principal regulator, the Alberta Securities Commission granted a management cease trade order on May 4, 2023, under National Policy 12-203 Management Cease Trade Orders . Pursuant to the MCTO, Samuel David, the Chief Executive Officer, and Matthew Kenna, the Chief Financial Officer, may not trade in securities of the [...]
Prospera Energy Inc. PEI: TSX-V; OF6B: FRA, OTC: GXRFF Prospera Energy Inc. December 31, 2022 year-end reserves were independently assessed by InSite Petroleum Consultants Ltd. . The Insite report confirmed current recovery to date of 8.6% using mostly vertical wells, mainly in core assets located in Southwest and West-Central Saskatchewan, with significant remaining recoverable reserves representing a substantial upside [...]
Prospera Energy Inc. today announces that the filing of its audited annual financial statements, management's discussion and analysis and related CEO and CFO certifications for the financial year ended December 31, 2022 , will be delayed beyond the filing deadline of May 1, 2023, and as a result is in default of its obligations under Part 4 of National Instrument 51-102 Continuous Disclosure Obligations. The delay in the [...]
Prospera Energy Inc. PEI: TSX-V; OF6A: FRA, OTC: GXRFF In March 2023, Prospera Energy granted incentive share options to integral employees / consultants and management team members to maintain continuity to execute the restructured Prospera's development plan. Prospera has issued a total of 1,250,000 options at $0.10 and 400,000 options at $0.11 and 1,523,140 at $0.125 pursuant to its incentive stock option plan to [...]
Prospera Energy Inc. PEI: TSX-V; OF6A: FRA, OTC: GXRFF Prospera Energy announces the first closing of CDN $3.015 million non-brokered private placement financing of debt with an equity bonus to fund its 2023 phase 2 capital program that entails SK HZ and AB directional drilling, LMR plan to reduce ARO & environmental footprint and upgrade infrastructure to accommodate planned growth. The financing is subject to approval [...]
Prospera Energy Inc. PEI: TSX-V; OF6A: FRA, OTC: GXRFF Approximately, two years ago Prospera was restructured to be profitable and compliant from a terminal position. Although the focus was to increase production rapidly, Prospera has commendably managed to address 400+ non-compliances and abandoned 60 wells. As a result, PEI has elevated the regulator License Liability Rating from a deficit 0.37 past the regulator [...]
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