SEDAR Interim Financial Statements

[
  {
    "companyName": "Prairie Provident Resources Inc.",
    "reportingPeriodEnd": "2025-09-30",
    "reportStatus": "Unaudited",
    "auditorName": null,
    "auditorKeyMatters": [],
    "balanceSheet": {
      "2025-09-30": {
        "cash": 1273,
        "restrictedDeposit": 4112,
        "accountsReceivable": 4640,
        "prepaidExpensesAndOtherAssets": 3553,
        "totalCurrentAssets": 13578,
        "explorationAndEvaluationAssets": 3460,
        "propertyAndEquipment": 94933,
        "rightOfUseAssets": 1123,
        "otherAssets": 508,
        "totalNonCurrentAssets": 100024,
        "totalAssets": 113602,
        "accountsPayableAndAccruedLiabilities": 20920,
        "currentPortionOfLeaseLiabilities": 759,
        "currentPortionOfDecommissioningLiabilities": 5931,
        "currentPortionOfOtherLiabilities": 267,
        "currentPortionOfDebt": 65745,
        "totalCurrentLiabilities": 93622,
        "leaseLiabilities": 155,
        "decommissioningLiabilities": 66978,
        "otherLiabilities": 11446,
        "totalNonCurrentLiabilities": 78579,
        "totalLiabilities": 172201,
        "shareCapital": 167463,
        "warrants": 1020,
        "contributedSurplus": 40737,
        "accumulatedDeficit": -267567,
        "accumulatedOtherComprehensiveIncomeLoss": -252,
        "totalShareholdersDeficit": -58599,
        "totalLiabilitiesAndShareholdersDeficit": 113602
      },
      "2024-12-31": {
        "cash": 4722,
        "restrictedDeposit": 4112,
        "accountsReceivable": 5957,
        "prepaidExpensesAndOtherAssets": 3470,
        "totalCurrentAssets": 18261,
        "explorationAndEvaluationAssets": 3521,
        "propertyAndEquipment": 94242,
        "rightOfUseAssets": 1290,
        "otherAssets": 553,
        "totalNonCurrentAssets": 99606,
        "totalAssets": 117867,
        "accountsPayableAndAccruedLiabilities": 25514,
        "currentPortionOfLeaseLiabilities": 2350,
        "currentPortionOfDecommissioningLiabilities": 6260,
        "currentPortionOfOtherLiabilities": 267,
        "currentPortionOfDebt": 55572,
        "totalCurrentLiabilities": 89963,
        "leaseLiabilities": 231,
        "decommissioningLiabilities": 65513,
        "otherLiabilities": 11201,
        "totalNonCurrentLiabilities": 76945,
        "totalLiabilities": 166908,
        "shareCapital": 159386,
        "warrants": 729,
        "contributedSurplus": 39467,
        "accumulatedDeficit": -248032,
        "accumulatedOtherComprehensiveIncomeLoss": -591,
        "totalShareholdersDeficit": -49041,
        "totalLiabilitiesAndShareholdersDeficit": 117867
      },
      "cashPerShare": 0.0009,
      "workingCapitalPerShare": -0.0589
    },
    "incomeStatement": {
      "threeMonthsEnded2025-09-30": {
        "petroleumAndNaturalGasSales": 9394,
        "royalties": -1040,
        "petroleumAndNaturalGasSalesNetOfRoyalties": 8354,
        "realizedLossOnDerivativeInstruments": 0,
        "unrealizedGainOnDerivativeInstruments": 0,
        "otherIncome": 5,
        "totalRevenueAndOtherIncome": 8359,
        "operating": 6417,
        "generalAndAdministrative": 2240,
        "depletionAndDepreciationOfPropertyAndEquipment": 2555,
        "explorationAndEvaluation": 2,
        "depreciationOnRightOfUseAssets": 56,
        "gainOnPropertyDispositions": 0,
        "impairmentImpairmentReversal": -252,
        "foreignExchangeGainLoss": 307,
        "financeCosts": 4623,
        "transactionRestructuringAndOtherCostsRecovery": -692,
        "gainOnDebtModification": 0,
        "totalExpenses": 15256,
        "incomeLossBeforeIncomeTaxes": -6897,
        "totalIncomeTaxes": 0,
        "netIncomeLoss": -6897,
        "currencyTranslationAdjustments": -208,
        "totalOtherComprehensiveIncomeLoss": -208,
        "comprehensiveIncomeLoss": -7105,
        "basicEps": 0,
        "dilutedEps": 0,
        "weightedAverageSharesOutstandingBasic": 1401576,
        "weightedAverageSharesOutstandingDiluted": 1401576
      },
      "threeMonthsEnded2024-09-30": {
        "petroleumAndNaturalGasSales": 9651,
        "royalties": -1623,
        "petroleumAndNaturalGasSalesNetOfRoyalties": 8028,
        "realizedLossOnDerivativeInstruments": 0,
        "unrealizedGainOnDerivativeInstruments": 0,
        "otherIncome": 49,
        "totalRevenueAndOtherIncome": 8077,
        "operating": 5386,
        "generalAndAdministrative": 2042,
        "depletionAndDepreciationOfPropertyAndEquipment": 2154,
        "explorationAndEvaluation": 0,
        "depreciationOnRightOfUseAssets": 85,
        "gainOnPropertyDispositions": 0,
        "impairmentImpairmentReversal": 362,
        "foreignExchangeGainLoss": 137,
        "financeCosts": 3752,
        "transactionRestructuringAndOtherCostsRecovery": -26,
        "gainOnDebtModification": -10854,
        "totalExpenses": 3038,
        "incomeLossBeforeIncomeTaxes": 5039,
        "totalIncomeTaxes": 0,
        "netIncomeLoss": 5039,
        "currencyTranslationAdjustments": 492,
        "totalOtherComprehensiveIncomeLoss": 492,
        "comprehensiveIncomeLoss": 5531,
        "basicEps": 0.01,
        "dilutedEps": 0.01,
        "weightedAverageSharesOutstandingBasic": 729199,
        "weightedAverageSharesOutstandingDiluted": 729199
      },
      "nineMonthsEnded2025-09-30": {
        "petroleumAndNaturalGasSales": 33021,
        "royalties": -3804,
        "petroleumAndNaturalGasSalesNetOfRoyalties": 29217,
        "realizedLossOnDerivativeInstruments": 0,
        "unrealizedGainOnDerivativeInstruments": 0,
        "otherIncome": 53,
        "totalRevenueAndOtherIncome": 29270,
        "operating": 18716,
        "generalAndAdministrative": 6551,
        "depletionAndDepreciationOfPropertyAndEquipment": 7828,
        "explorationAndEvaluation": 27,
        "depreciationOnRightOfUseAssets": 167,
        "gainOnPropertyDispositions": -125,
        "impairmentImpairmentReversal": 3568,
        "foreignExchangeGainLoss": -393,
        "financeCosts": 13325,
        "transactionRestructuringAndOtherCostsRecovery": -724,
        "gainOnDebtModification": -135,
        "totalExpenses": 48805,
        "incomeLossBeforeIncomeTaxes": -19535,
        "totalIncomeTaxes": 0,
        "netIncomeLoss": -19535,
        "currencyTranslationAdjustments": 339,
        "totalOtherComprehensiveIncomeLoss": 339,
        "comprehensiveIncomeLoss": -19196,
        "basicEps": -0.01,
        "dilutedEps": -0.01,
        "weightedAverageSharesOutstandingBasic": 1359436,
        "weightedAverageSharesOutstandingDiluted": 1359436
      },
      "nineMonthsEnded2024-09-30": {
        "petroleumAndNaturalGasSales": 32135,
        "royalties": -5011,
        "petroleumAndNaturalGasSalesNetOfRoyalties": 27124,
        "realizedLossOnDerivativeInstruments": -485,
        "unrealizedGainOnDerivativeInstruments": 416,
        "otherIncome": 60,
        "totalRevenueAndOtherIncome": 27115,
        "operating": 21296,
        "generalAndAdministrative": 6245,
        "depletionAndDepreciationOfPropertyAndEquipment": 6661,
        "explorationAndEvaluation": 0,
        "depreciationOnRightOfUseAssets": 255,
        "gainOnPropertyDispositions": -2302,
        "impairmentImpairmentReversal": 601,
        "foreignExchangeGainLoss": 879,
        "financeCosts": 10934,
        "transactionRestructuringAndOtherCostsRecovery": 241,
        "gainOnDebtModification": -10854,
        "totalExpenses": 33956,
        "incomeLossBeforeIncomeTaxes": -6841,
        "totalIncomeTaxes": 0,
        "netIncomeLoss": -6841,
        "currencyTranslationAdjustments": 361,
        "totalOtherComprehensiveIncomeLoss": 361,
        "comprehensiveIncomeLoss": -6480,
        "basicEps": -0.01,
        "dilutedEps": -0.01,
        "weightedAverageSharesOutstandingBasic": 720476,
        "weightedAverageSharesOutstandingDiluted": 720476
      }
    },
    "cashFlowStatement": {
      "threeMonthsEnded2025-09-30": {
        "operatingActivities": {
          "netIncomeLoss": -6897,
          "impairmentImpairmentReversal": -252,
          "unrealizedGainOnDerivativeInstruments": 0,
          "depletionAndDepreciationOfPropertyAndEquipment": 2555,
          "depreciationOnRightOfUseAssets": 56,
          "explorationAndEvaluationExpense": 2,
          "accretionExpenseDecommissioningLiabilities": 601,
          "unrealizedForeignExchangeLossGain": 307,
          "changeInOtherLiabilities": 200,
          "gainOnPropertyDispositions": 0,
          "lossGainOnDebtModification": 0,
          "shareBasedCompensation": 394,
          "nonCashTransactionAndOtherCostsRecovery": -751,
          "allowanceForDoubtfulAccountsAndBadDebts": 53,
          "interestExpenseAndFinanceCostsDebt": 3943,
          "settlementsOfDecommissioningLiabilities": -827,
          "otherNet": 0,
          "changeInNonCashWorkingCapital": 108,
          "cashFromUsedInOperatingActivities": -508
        },
        "investingActivities": {
          "propertyAndEquipmentExpenditures": -115,
          "proceedsFromDispositionsNetOfAcquisitions": 12,
          "changeInNonCashWorkingCapital": -156,
          "cashFromUsedInInvestingActivities": -259
        },
        "financingActivities": {
          "issuanceOfCommonSharesAndWarrantsForCash": 0,
          "issuanceCosts": 0,
          "subscriptionReceiptProceeds": 0,
          "settlementOfShareBasedCompensationIncludingWithholdingTaxAndNetOfProceeds": 0,
          "repaymentsOfPrincipalRelatedToLeaseLiabilities": -656,
          "repaymentOfFirstLienLoanDebt": 0,
          "drawingsOfSecondLienNotesDebt": 0,
          "changeInNonCashWorkingCapital": 457,
          "cashFromUsedInFinancingActivities": -199
        },
        "changeInCash": -966,
        "cashBeginningOfPeriod": 2239,
        "cashEndOfPeriod": 1273
      },
      "threeMonthsEnded2024-09-30": {
        "operatingActivities": {
          "netIncomeLoss": 5039,
          "impairmentImpairmentReversal": 362,
          "unrealizedGainOnDerivativeInstruments": 0,
          "depletionAndDepreciationOfPropertyAndEquipment": 2154,
          "depreciationOnRightOfUseAssets": 85,
          "explorationAndEvaluationExpense": 0,
          "accretionExpenseDecommissioningLiabilities": 615,
          "unrealizedForeignExchangeLossGain": 101,
          "changeInOtherLiabilities": -78,
          "gainOnPropertyDispositions": 0,
          "lossGainOnDebtModification": -10942,
          "shareBasedCompensation": 62,
          "nonCashTransactionAndOtherCostsRecovery": 0,
          "allowanceForDoubtfulAccountsAndBadDebts": 262,
          "interestExpenseAndFinanceCostsDebt": 3162,
          "settlementsOfDecommissioningLiabilities": -539,
          "otherNet": 7,
          "changeInNonCashWorkingCapital": 579,
          "cashFromUsedInOperatingActivities": 869
        },
        "investingActivities": {
          "propertyAndEquipmentExpenditures": -656,
          "proceedsFromDispositionsNetOfAcquisitions": 630,
          "changeInNonCashWorkingCapital": -614,
          "cashFromUsedInInvestingActivities": -640
        },
        "financingActivities": {
          "issuanceOfCommonSharesAndWarrantsForCash": 6869,
          "issuanceCosts": -50,
          "subscriptionReceiptProceeds": 400,
          "settlementOfShareBasedCompensationIncludingWithholdingTaxAndNetOfProceeds": -3,
          "repaymentsOfPrincipalRelatedToLeaseLiabilities": -693,
          "repaymentOfFirstLienLoanDebt": 0,
          "drawingsOfSecondLienNotesDebt": 0,
          "changeInNonCashWorkingCapital": 0,
          "cashFromUsedInFinancingActivities": 6523
        },
        "changeInCash": 6752,
        "cashBeginningOfPeriod": 2282,
        "cashEndOfPeriod": 9034
      },
      "nineMonthsEnded2025-09-30": {
        "operatingActivities": {
          "netIncomeLoss": -19535,
          "impairmentImpairmentReversal": 3568,
          "unrealizedGainOnDerivativeInstruments": 0,
          "depletionAndDepreciationOfPropertyAndEquipment": 7828,
          "depreciationOnRightOfUseAssets": 167,
          "explorationAndEvaluationExpense": 27,
          "accretionExpenseDecommissioningLiabilities": 1803,
          "unrealizedForeignExchangeLossGain": -396,
          "changeInOtherLiabilities": 581,
          "gainOnPropertyDispositions": -125,
          "lossGainOnDebtModification": -135,
          "shareBasedCompensation": 1206,
          "nonCashTransactionAndOtherCostsRecovery": -751,
          "allowanceForDoubtfulAccountsAndBadDebts": 221,
          "interestExpenseAndFinanceCostsDebt": 11230,
          "settlementsOfDecommissioningLiabilities": -1374,
          "otherNet": 0,
          "changeInNonCashWorkingCapital": -2832,
          "cashFromUsedInOperatingActivities": 1483
        },
        "investingActivities": {
          "propertyAndEquipmentExpenditures": -11061,
          "proceedsFromDispositionsNetOfAcquisitions": -64,
          "changeInNonCashWorkingCapital": -1774,
          "cashFromUsedInInvestingActivities": -12899
        },
        "financingActivities": {
          "issuanceOfCommonSharesAndWarrantsForCash": 8666,
          "issuanceCosts": -324,
          "subscriptionReceiptProceeds": 0,
          "settlementOfShareBasedCompensationIncludingWithholdingTaxAndNetOfProceeds": -7,
          "repaymentsOfPrincipalRelatedToLeaseLiabilities": -1667,
          "repaymentOfFirstLienLoanDebt": -888,
          "drawingsOfSecondLienNotesDebt": 821,
          "changeInNonCashWorkingCapital": 1366,
          "cashFromUsedInFinancingActivities": 7967
        },
        "changeInCash": -3449,
        "cashBeginningOfPeriod": 4722,
        "cashEndOfPeriod": 1273
      },
      "nineMonthsEnded2024-09-30": {
        "operatingActivities": {
          "netIncomeLoss": -6841,
          "impairmentImpairmentReversal": 601,
          "unrealizedGainOnDerivativeInstruments": -416,
          "depletionAndDepreciationOfPropertyAndEquipment": 6661,
          "depreciationOnRightOfUseAssets": 255,
          "explorationAndEvaluationExpense": 0,
          "accretionExpenseDecommissioningLiabilities": 2005,
          "unrealizedForeignExchangeLossGain": 842,
          "changeInOtherLiabilities": 553,
          "gainOnPropertyDispositions": -2302,
          "lossGainOnDebtModification": -10942,
          "shareBasedCompensation": 170,
          "nonCashTransactionAndOtherCostsRecovery": 0,
          "allowanceForDoubtfulAccountsAndBadDebts": 262,
          "interestExpenseAndFinanceCostsDebt": 8559,
          "settlementsOfDecommissioningLiabilities": -934,
          "otherNet": 0,
          "changeInNonCashWorkingCapital": -1257,
          "cashFromUsedInOperatingActivities": -2784
        },
        "investingActivities": {
          "propertyAndEquipmentExpenditures": -1674,
          "proceedsFromDispositionsNetOfAcquisitions": 24353,
          "changeInNonCashWorkingCapital": -1056,
          "cashFromUsedInInvestingActivities": 21623
        },
        "financingActivities": {
          "issuanceOfCommonSharesAndWarrantsForCash": 6869,
          "issuanceCosts": -50,
          "subscriptionReceiptProceeds": 400,
          "settlementOfShareBasedCompensationIncludingWithholdingTaxAndNetOfProceeds": -1,
          "repaymentsOfPrincipalRelatedToLeaseLiabilities": -1989,
          "repaymentOfFirstLienLoanDebt": -20000,
          "drawingsOfSecondLienNotesDebt": 3131,
          "changeInNonCashWorkingCapital": 0,
          "cashFromUsedInFinancingActivities": -11640
        },
        "changeInCash": 7199,
        "cashBeginningOfPeriod": 1835,
        "cashEndOfPeriod": 9034
      }
    },
    "investmentsAndOtherAssets": [],
    "shareStructure": {
      "authorizedShares": "Unlimited",
      "issuedShares": 1401576,
      "classesOfShares": [
        "Common Shares"
      ],
      "warrants": [
        {
          "number": 44444,
          "exercisePrice": 0.1,
          "expiryDate": "2028-05-15"
        },
        {
          "number": 3556,
          "exercisePrice": 0.09,
          "expiryDate": "2028-05-15"
        },
        {
          "number": 86267,
          "exercisePrice": 0.05,
          "expiryDate": "2028-03-05"
        },
        {
          "number": 2509,
          "exercisePrice": 0.0425,
          "expiryDate": "2028-03-05"
        }
      ],
      "options": [
        {
          "number": 320,
          "exercisePrice": 0.28,
          "expiryDate": null
        },
        {
          "number": 63535,
          "exercisePrice": 0.04,
          "expiryDate": null
        }
      ],
      "rightsConvertibleInstruments": null
    },
    "managementCompensation": {
      "currency": "CAD",
      "periods": {
        "threeMonthsEnded2025-09-30": {
          "totalShareBasedCompensation": 426,
          "shareBasedCompensationExpensed": 394,
          "shareBasedCompensationCapitalized": 32
        },
        "threeMonthsEnded2024-09-30": {
          "totalShareBasedCompensation": 62,
          "shareBasedCompensationExpensed": 62,
          "shareBasedCompensationCapitalized": 0
        },
        "nineMonthsEnded2025-09-30": {
          "totalShareBasedCompensation": 1302,
          "shareBasedCompensationExpensed": 1206,
          "shareBasedCompensationCapitalized": 96
        },
        "nineMonthsEnded2024-09-30": {
          "totalShareBasedCompensation": 170,
          "shareBasedCompensationExpensed": 170,
          "shareBasedCompensationCapitalized": 0
        }
      },
      "namedIndividuals": [],
      "otherRelatedPartyTransactions": [
        {
          "counterparty": "PCEP Canadian Holdco, LLC",
          "description": "Participation in equity offerings (February and March 2025)",
          "amount": 8451,
          "period": "2025"
        },
        {
          "counterparty": "PGIM, Inc. (ultimate parent)",
          "description": "First Lien Loan debt and related transactions",
          "amount": null,
          "period": "Ongoing"
        },
        {
          "counterparty": "Prudential Capital Energy Partners, L.P. (subsidiary of ultimate parent)",
          "description": "Second Lien Notes debt and related transactions",
          "amount": null,
          "period": "Ongoing"
        }
      ]
    },
    "subsequentEvents": [
      {
        "eventDate": "2025-10-31",
        "description": "Completed a preferred share financing (Equity Financing) raising $26.5 million in gross proceeds through the sale of Class A preferred shares in subsidiary Prairie Provident Resources Canada Ltd. to PPR Canadian Pref Holdco, LLC (an affiliate of PCEP).",
        "impactValue": 26485
      },
      {
        "eventDate": "2025-10-31",
        "description": "Concluded amendments to First Lien Loan and Second Lien Notes debt agreements to extend maturities by 24 months, defer cash interest obligations through 2026, and adjust financial covenants.",
        "impactValue": null
      }
    ]
  }
]