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Prospera Energy Inc V.PEI

Alternate Symbol(s):  GXRFF

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.


TSXV:PEI - Post by User

Post by graffiti99on Oct 25, 2023 4:29pm
191 Views
Post# 35700894

Steady as she goes

Steady as she goesI think Samuel David is pretty good. My impression is that shareholders are in good hands with him as CEO. He's not flashy, or a promoter, he's an engineer with good experience to bring these wells online. Small company so i expect some mistakes particularly in the press release IR department. If they rolled back some forecasts it's not the end of the world. it's a micro cap so you can't expect everything. They've got good properties, so It's a multi year investment for me so we will see how they do - I suspect very, very well.

I hope they ease off acquisitions or high risk maneuvering. Stick to the new culture of Canadian Oil and Gas which is to return capital to shareholders who have stuck it out. Get the wells done, optimize the flow (he's an engineer, he knows what to do) and then get that free cash flow flowing back to shareholders. The PE will be super attractive and if they do a small divi that shareprice
will reset very nicely well north of where it is now.

GLTA
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