Prospera Energy Inc.

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 [...]

Prospera Energy Inc. PEI: TSX-V; OF6A: FRA, OTC: GXRFF Prospera is structured to be well-capitalized in 2023 to fund the capital development program to capture the significant remaining reserves in place. PEI total capitalization includes strategic debt offering below, combined with substantial warrant exercise program of up to $10 million CAD in 2023 plus positive cash flow from operations. PEI hereby announces that it [...]

Prospera Energy Inc. PEI: TSX-V; FRA: OF6A; OTC: GXRFF Prospera Energy Inc. announced that it has closed a non-brokered private placement of $1,314,000 by the issue of 17,520,000 units, each unit consisting of one common share and a partial warrant , of up to 15,330,000 warrants, each whole warrant entitling the holder to subscribe for one additional share for $0.09 for 2 years from closing. Proceeds will be used for [...]

Prospera Energy Inc. PEI: TSX-V; OF6A: FRA, OTC: GXRFF The restructured Prospera Energy overcame many legacy challenges and achieved many milestones in the year 2022. Consequently, PEI has positioned itself for strong growth in the year 2023 to finally overcome legacy obligations, achieve stability and greater profitability. In 2022 PEI achieved: Peak production levels of 1,250Boepd mainly oil from a low 80Bblspd from the [...]