- Prospera Energy recently provided an update on the second phase of the company’s restructuring plan
- With its initial five horizontal wells and incremental crude production tracking ahead of expectations, Prospera have announced plans to continue their second phase beyond its initially mooted ten well program
- The company has now announced that it will proceed with a low dilutive capital raise of $3 million, with proceeds destined to fund the exploration company’s ongoing capex
Prospera Energy (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, recently provided the market with an update on the second phase of its restructuring program. Boasting a business model centered around optimizing hydrocarbon recovery from legacy fields through innovative production practices and seeking to exploit the over 42,000 cumulative acres of territory across the company’s core assets, Prospera designed its second phase around drilling 10 horizontal well locations at its Cuthbert and Hearty Hills properties.
The second phase of Prospera Energy’s program has quickly advanced beyond initial expectations, with the company having already successfully drilled five horizontal wells of its multi-well infill horizontal development program (https://ibn.fm/Najtv). Prospera further revealed that with two of its…
NOTE TO INVESTORS: The latest news and updates relating to GXRFF are available in the company’s newsroom at https://ibn.fm/GXRFF
About MiningNewsWire
MiningNewsWire (“MNW”) is a specialized communications platform with a focus on developments and opportunities in the Global Mining and Resources sectors. It is one of 60+ brands within the Dynamic Brand Portfolio @ IBN that delivers: (1) access to a vast network of wire solutions via InvestorWire to efficiently and effectively reach a myriad of target markets, demographics and diverse industries; (2) article and editorial syndication to 5,000+ outlets; (3) enhanced press release enhancement to ensure maximum impact; (4) social media distribution via IBN to millions of social media followers; and (5) a full array of tailored corporate communications solutions. With broad reach and a seasoned team of contributing journalists and writers, MNW is uniquely positioned to best serve private and public companies that want to reach a wide audience of investors, influencers, consumers, journalists and the general public. By cutting through the overload of information in today’s market, MNW brings its clients unparalleled recognition and brand awareness.
MNW is where breaking news, insightful content and actionable information converge.
To receive SMS alerts from MiningNewsWire, text “BigHole” to 844-397-5787 (U.S. Mobile Phones Only)
For more information, please visit https://www.MiningNewsWire.com
Please see full terms of use and disclaimers on the MiningNewsWire website applicable to all content provided by MNW, wherever published or re-published: https://www.MiningNewsWire.com/Disclaimer
MiningNewsWire
Los Angeles, CA
www.MiningNewsWire.com
310.299.1717 Office
Editor@MiningNewsWire.com
MiningNewsWire is powered by IBN
