Prospera Energy Inc. PEI: TSX-V; OF6A: FRA; OTC: GXRFF 2022 Q3 Highlights: In the third quarter of 2022, Prospera continued the restructuring efforts to be profitable and compliant, both environmentally & regulatorily. PEI accelerated the restructuring momentum by executing a significant well recompletion and reactivation work over program during Q3. As a result, PEI September exit production rate of 710 BOE/d is 40 [...]
Prospera Energy Inc. : TSX: PEI-V; OTC: GXRFF; FRA: OF6A announces that further to the Corporation's July 21, 2022 and September 1, 2022 press releases, the Corporation has closed this acquisition of a 50% working interest in Brooks, AB and 100% of the non-op minority working interest of southern Saskatchewan properties from Cabaca Resources. The Corporation agreed to purchase an undivided 50% working interest in [...]
Prospera Energy Inc. : TSX: PEI-V; OTC : GXRFF; FRA : OF6B The reorganized efforts of Prospera have resulted in increased gross production from 80bpd to 800bpd, Q2 revenue grew by 860%, reserve asset value grew from -3.4m$ to 56.2m$ from the previous year. Settled 14m$ of legacy arrears, reduced ARO liability by 1.5m$ and addressed over 400 legacy non-compliances to be fully regulatory & environmentally compliant [...]
Prospera Energy Inc. : TSX: PEI-V; OTC : GXRFF; FRA : OF6A Prospera Energy Inc. wishes to provide details in respect to its recent property acquisitions. Further to the Corporation's press release of July 21, 2022, Prospera has closed its previously described debt settlement and working interest acquisitions agreements. Pursuant to an arms-length debt settlement agreement dated February 16, 2022, the Corporation settled [...]
Prospera Energy Inc. : TSX: PEI-V; OTC : GXRFF; FRA : OF6A Prospera Energy is primarily focused on optimizing hydrocarbon recovery through environmentally safe and efficient reservoir development methods and production practices. Restructured PEI has elevated gross production levels to 925 Boepd from 80bpd in the span of a year and a half. PEI has piloted horizontal laterals in order to assess and improve technical and [...]
Prospera Energy Inc. : TSX: PEI-V; OTC : GXRFF; FRA : OF6A Message to Shareholders PEI has strategically acquired this light oil property to diversify its oil product mix and to realize higher margin. This acquisition is entirely success-based eliminating any requirement for large up front capital investment. This asset provides PEI with a significant development opportunity along the light-oil formation fairway. This [...]
Prospera Energy Inc. PEI: TSX-V; OF6A: FRA Second Quarter 2022 Highlights: In the second quarter of 2022, the renewed Prospera is pleased to realize milestone positive Net Income and EBITDA in Q2 2022, supported by robust commodity pricing. PEI continued to execute the restructuring objectives of production optimization, compliance, and ARO reduction. However, breakup weather conditions mitigated the activity level in [...]
Prospera Energy Inc. wishes to provide an update and amend its second bi-weekly Status Report that was issued on May 31, 2022 under National Policy 12-203 Management Cease Trade Orders , pursuant to which Prospera issued its original default announcement indicating that the filing of its annual audited financial statements, annual management's discussion and analysis, and related CEO and CFO certifications for the year [...]
Prospera Energy Inc. is pleased to provide its shareholders with the following corporate update summarizing the significant milestones achieved over the past 1.3 years. Prospera has now positioned itself to develop three large heavy oil fields with significant OOIP that have had no modern drilling or recovery methods applied. Historical production has accounted for only 30 mmbbl. PEI Restructure 2021 Commencing 2021, PEI [...]
Prospera Energy Inc. is pleased to provide its shareholders with the following corporate update summarizing the significant milestones achieved over the past 1.3 years. Prospera has now positioned itself to develop three large heavy oil fields with significant OOIP that have had no modern drilling or recovery methods applied. Historical production has accounted for only 30 mmbbl. PEI Restructure 2021 Commencing 2021, PEI [...]
: Prospera Energy Inc. announces two non-brokered private placement financings to fund the ongoing restructuring process that has transitioned the Corporation to regulatory compliance, environmentally safe operating conditions and production optimization. The proceeds from these financings will fund the second phase of the development plan , increasing ownership and acquisitions at hand under agreements. The financings [...]
Prospera Energy Inc. restructuring and refinancing efforts have been focused on settling historical liabilities to trade creditors and municipalities, resolving numerous environmental and regulatory non-compliance issues, settling outstanding joint venture partners accounts receivables and updating all production facilities to safe and reliable operating conditions; this in parallel with the execution of the initial [...]
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