IBN Coverage Initiated for Prospera Energy Inc.
August 23 2023 - 8:30AM
via IBN – Prospera Energy Inc. (TSX.V: PEI) (OTC: GXRFF) (FRA:
OF6B), a public oil and gas exploration, exploitation and
development company focusing on conventional oil and gas reservoirs
in Western Canada, today announces it has selected the corporate
communications expertise of IBN, a multifaceted financial news and
publishing company for private and public entities.
Prospera Energy uses its experience to develop, acquire and
drill assets with potential for primary and secondary recovery. The
company is primarily focused on optimizing hydrocarbon recovery
from legacy fields through environmentally safe and efficient
reservoir development methods and production practices. It is in
the midst of a three-stage restructuring process aimed at
prioritizing cost effective operations while appreciating
production capacity and reducing liabilities.
Prospera’s core properties include more than 42,000 cumulative
acres across Cuthbert, Luseland and Heart Hills in Saskatchewan and
Red Earth and Pouce Coupe in Alberta. In total, the company
estimates that there are half a billion barrels of oil in place at
these sites accounting for 20+ years of forward project lifespan,
with as little as 8% of total reserves having been recovered via
legacy vertical well technology.
As part of the Client Partner relationship, IBN will leverage
its investor based distribution network of 5,000+ key syndication
outlets, various newsletters, social media channels, wire services
via InvestorWire, blogs and other outreach tools to generate
greater awareness for Prospera Energy.
With 17+ years of experience assisting 500+ client partners
improve communications within the investment community, and a
sizable family of 60+ trusted brands, IBN has amassed a collective
audience that includes millions of social media followers. IBN is
uniquely positioned to provide Prospera Energy the solutions needed
to reach a wide audience of investors, journalists and the general
public.
“Since enacting its top-down reorganization in 2021, Prospera
has achieved tremendous growth. In May 2023, the company reported a
three-fold year-over-year increase in annual revenue for 2022
alongside drastically reduced operating costs and record-high cash
flow from operations,” stated Chris Johnson, Director of Operations
for IBN. “We’re excited to customize our comprehensive suite of
corporate communications solutions for Prospera, which is
positioned to execute the second phase of its development plan,
aimed at increasing production through medium-oil development in
Alberta and leveraging horizontal wells to capture the significant
remaining reserves in Saskatchewan.”
To learn more about Prospera Energy, please visit the company’s
corporate newsroom @ https://IBN.fm/GXRFF
About Prospera Energy Inc.
Prospera Energy Inc. is a publicly traded energy company based
in Western Canada, specializing in the exploration, development and
production of crude oil and natural gas. Prospera Energy Inc. has
announced a mid-August spud of PEI’s phase 2 restructured
development program intended to increase production. The phase 2
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 significant remaining reserves (400 million bbls).
These horizontal laterals and slanted wells will allow PEI to
increase production by approximately 1,000bpd with recovery of
approximately 100Mstb per well.
PEI will reduce its environmental and surface footprint by
eliminating the numerous vertical well leases along the lateral
path. Phase III of Prospera’s corporate redevelopment strategy will
focus on continuing the company’s horizontal modular development to
appreciate production and optimize recovery of remaining reserves.
Prospera intends to implement full-scale EOR applications based on
the results of its Phase II pilot program, which is forecast to
optimize recovery by greater than 10%. Prospera also intends to
continue its acquisition strategy to diversify its product mix. Its
goal is to attain 50% light oil, 40% heavy oil and 10% gas – all
while continuing to eliminate carbon emissions as part of its
existing ESG initiatives.
For more information, visit the company’s website at
www.ProsperaEnergy.com
About IBN
IBN consists of financial brands introduced to the investment
public over the course of 17+ years. With IBN, we have amassed a
collective audience of millions of social media followers. These
distinctive investor brands aim to fulfill the unique needs of a
growing base of client-partners. IBN will continue to expand our
branded network of highly influential properties, leveraging the
knowledge and energy of specialized teams of experts to serve our
increasingly diversified list of clients.
Through our Dynamic Brand Portfolio (DBP), IBN provides: (1)
access to a network of wire solutions via InvestorWire to reach all
target markets, industries and demographics in the most effective
manner possible; (2) article and editorial syndication to 5,000+
news outlets; (3) Press Release Enhancement to ensure maximum
impact; (4) full-scale distribution to a growing social media
audience; (5) a full array of corporate communications solutions;
and (6) total news coverage solutions.
For more information, please visit
https://www.InvestorBrandNetwork.com
Please see full terms of use and disclaimers on the
InvestorBrandNetwork website applicable to all content provided by
IBN, wherever published or re-published:
http://IBN.fm/Disclaimer
Forward-Looking Statements
This release contains forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933, as amended
and Section 21E of the Securities Exchange Act of 1934, as amended.
All forward-looking statements are inherently uncertain as they are
based on current expectations and assumptions concerning future
events or future performance of the company. Readers are cautioned
not to place undue reliance on these forward-looking statements,
which are only predictions and speak only as of the date hereof. In
evaluating such statements, prospective investors should review
carefully various risks and uncertainties identified in this
release and matters set in the company's SEC filings. These risks
and uncertainties could cause the company's actual results to
differ materially from those indicated in the forward-looking
statements.
Corporate Communications
IBNLos Angeles,
Californiawww.InvestorBrandNetwork.com310.299.1717
OfficeEditor@InvestorBrandNetwork.com
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