Prairie Provident Resources Inc T.PPR

Alternate Symbol(s): PRPRF

Energy Oil & Gas E&P

Prairie Provident Resources Inc. is a Canada-based oil and natural gas exploration company. The Company is engaged in the exploration and development of oil and natural gas, with conventional operations primarily focused on the Western Canadian Sedimentary Basin in Alberta. Its operating areas include Michichi, Princess and Evi. Its assets primarily consist of light and medium oil associated natural gas. The Company is primarily focused on development of its Wheatland and Princess properties in Southern Alberta and its Evi area located in the Peace River Arch area of Northern Alberta. Its Princess area in Southern Alberta is engaged in the development of the Glauc and Ellerslie formations. The Company's assets cover approximately 375,000 acres of area in Alberta. Its wholly owned subsidiaries include Prairie Provident Resources Canada Ltd., Lone Pine Resources Inc., Lone Pine Resources (Holdings) Inc., Arsenal Energy USA Inc. and Arsenal Energy Holding Ltd.

TSX:PPR - Post by User

Prairie Provident Resources Inc > New Press Release - Prairie Provident Resources Announces Management Change

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Comment by Roscoe747on Dec 19, 2022 8:30pm

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Post# 35181146

RE:RE:RE:RE:New Press Release - Prairie Provident Resources Announces Management Change

Looks to me that Tony pulled the plug on PPR rather than go down with the ship. While PPR has a facility term until Dec/23, they are still required to comply to covenants and feviews every 6 months.

With lower oil prices and higher interest rates, the banksters will be looking at a reduction in the credit facility and repayment of any overage. Hence the asset sales - either to raise cash or to dump ARO obligations.

I swing traded this but dumped when it hit $.19. Get out while you can.

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Advancing an underexplored area of the Yukon with the same geology as B.C’.s Golden Triangle