Financings
Prospera to issue 45.01M shares for debt of $1.61M
PEI · Price
Executive Summary
- Prospera Energy reports record‑high production at its Luseland field, driven by a systematic well‑reactivation program and engineering upgrades.
- The company settled $1,611,394 of trade payables with 39 vendors by issuing ~45 million common shares (≈3.5–5.0¢ per share) and announced an additional settlement of $79,533 with 13 vendors for 1.590 million shares at 5.0¢ per share.
- Both settlements are expected to strengthen the balance sheet, preserve liquidity, and reinforce vendor relationships while supporting continued field development in 2026.
Key Details
- Luseland Production: Highest output in almost a decade; reactivated wells from 2025 continue to climb, and 2026 wells show strong initial rates.
- Engineering Enhancements: Larger downhole PCP pumps, undersized rotors, additional recycle pumps, increased pump capacities, and controlled ramp‑up phases implemented across the field.
- 2026 Two‑Rig Program: Planned spring/summer deployment for Luseland well upgrades, further reactivations, and targeted workovers at Cuthbert to sustain month‑over‑month production and cash‑flow growth.
- Cost Economics: Incremental barrels reduce per‑barrel operating costs; fixed‑cost components (power, staff, trucking, facilities) are spread over higher volumes, boosting netback and margin.
- Supply‑Chain Precautions: Pre‑ordered critical parts/equipment to mitigate potential material shortages amid a tight commodity‑price environment.
Shares‑for‑Debt Settlement – $1.61 M
| Vendor Group | Amount Settled | Shares Issued | Deemed Share Price |
|---|---|---|---|
| 3 vendors | $12,157.51 | 243,150 | $0.050 |
| 1 vendor | $2,438.58 | 60,000 | $0.041 |
| 3 vendors | $242,877.12 | 6,071,928 | $0.040 |
| 1 vendor | $30,000 | 810,000 | $0.037 |
| 31 vendors | $1,323,921.22 | 37,826,320 | $0.035 |
| * Total Shares Issued: 45,011,398 common shares | |||
| * Trading Restriction: 4 months + 1 day from issuance; subject to TSX Venture Exchange acceptance. |
Additional Shares‑for‑Debt Update – $79,533
- Settlement with 13 vendors for $79,532.98 via issuance of 1,590,660 common shares at a deemed price of $0.050 per share.
- Same statutory hold period (4 months + 1 day) and TSX Venture Exchange acceptance.
Notable Quotes
“The results we are seeing across Luseland are exactly what we set out to achieve with Prospera's business strategy of low‑cost reactivations… Every well we bring on makes the entire field more profitable.” – Shubham Garg, Chairman of the Board
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Jun 29, 2026 · 07:01