Prospera Energy Inc V.PEI

Alternate Symbol(s): GXRFF

Energy Oil & Gas E&P

Prospera Energy Inc. is a Canada-based energy company. The Company specializes in the exploration, development, and production of crude oil and natural gas. Its core properties include Cuthbert, Luseland and Heart Hills in Saskatchewan; and Red Earth and Pouce Coupe in Alberta. Its Phase II restructured development program intends to increase production. The Phase II 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 remaining reserves (400 million bbls). It also seeks to reduce its environmental and surface footprint by eliminating the numerous vertical well leases along the lateral path.

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Prospera Energy Inc

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Post by Charts1on Apr 20, 2023 10:47am

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Post# 35405179

PEI.C NEWS THIS YEAR HIGHLITES.

In 2022 PEI achieved:

Peak production levels of 1,250Boepd mainly oil (80%) from a low 80Bblspd from the year 2021.
Realized record level revenue, EBITA & cash flow by greater than 150% compared to the year 2021.
Reduced operating cost per barrel to less than $40/bbl from greater than $60/bbl in the prior year.
Increased the Corporation’s ownership in the core properties from an average of 40% to 80%.
Appreciated NPV@10% 2P reserves value from a loss of -$3.4 million to a gain of $56.2 million.
Lengthened the TPP reserve life index from 10.1 to 22.8 years.