From GlobeNewswire: 2025-03-06 21:40:40

Prospera Energy Inc. announces the acquisition of White Tundra Petroleum, expanding its asset portfolio with significant production upside. The deal involves issuing 18,000,000 PEI shares to WTP shareholders, with potential for an additional 7,312,500 shares based on production milestones. Prospera will assume operational oversight of WTP and launch a workover program to optimize production. The corporation has also settled a convertible debt, reducing its total fully diluted share count by 30,000,000 common shares. Prospera’s renewed focus on low-cost workovers has increased production, with Luseland hitting 130 boe/d and Hearts Hill reaching 208 boe/d. The company aims for transparency with updated corporate governance policies available on its website.

For more information, contact Shawn Mehler at [email protected], Chris Ludtke at [email protected], or Shubham Garg at [email protected]. Prospera’s forward-looking statements emphasize the corporation’s commitment to operational growth and risk management in the oil and gas industry. The corporation’s dedication to optimizing recovery from legacy fields in Alberta and Saskatchewan is reflected in its strategic acquisitions and production milestones. Prospera’s transparent reporting practices ensure consistency and reliability in its financial disclosures.



Read more at GlobeNewswire: Prospera Energy Announces Acquisition of White Tundra