We could not find any results for:
Make sure your spelling is correct or try broadening your search.
Share Name | Share Symbol | Market | Type |
---|---|---|---|
Prospera Energy Inc | TSXV:PEI | TSX Venture | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0.05 | 0.05 | 0.055 | 0 | 01:00:00 |
Second Quarter 2022 Highlights:
In the second quarter of 2022, the renewed Prospera is pleased to realize milestone positive Net Income and EBITDA in Q2 2022, supported by robust commodity pricing. PEI continued to execute the restructuring objectives of production optimization, compliance, and ARO reduction. However, breakup weather conditions mitigated the activity level in Q2. Nevertheless, PEI initiated and executed the re-entry horizontal pilots to align the upcoming significant development drilling program. During this quarter PEI effectively:
Operating Income Summary:
Q2 2022 | Q2 2021 | Increase (Decrease)Value % | ||||||
Average sales volumes: | ||||||||
Natural gas (Mcf/d) | 46 | 13 | 33 | 252 | % | |||
Oil and condensate (Bbl/d) | 360 | 73 | 287 | 393 | % | |||
Total Net (Boe/d) | 368 | 75 | 293 | 390 | % | |||
Liquids Composition (percentage) | 98 | % | 97 | % | 1 | % | 1 | % |
Average realized prices | ||||||||
Natural gas ($/Mcf) | 6.48 | 2.92 | 4 | 122 | % | |||
Oil ($/Bbl) | 127.53 | 65.15 | 62 | 96 | % | |||
Average realized price ($/Boe) | 125.69 | 63.82 | 62 | 97 | % | |||
Operating netback | ||||||||
Natural gas | 26,975 | 3,349 | 23,626 | 705 | % | |||
Oil | 4,177,440 | 434,223 | 3,743,217 | 862 | % | |||
Total petroleum and natural gas sales | 4,204,416 | 437,572 | 3,766,844 | 861 | % | |||
Royalties | (695,104 | ) | (66,784 | ) | (628,320 | ) | 941 | % |
Operating costs | (1,758,049 | ) | (357,368 | ) | (1,400,681 | ) | 392 | % |
Operating netback | 1,751,262 | 13,420 | 1,737,842 | 12950 | % |
Above should be read in conjunction with the Company’s financial statements and related management’s discussion and analysis for the quarter ended June 30, 2022. PEI’s Q2 2022 financial information can be found under the Company’s issuer profile on SEDAR at www.sedar.com.
Message to Shareholders
The restructured PEI is focused upon continuously improving its financial position through 2022 by executing the following financial strategies:
The above financial strategies will improve the profitability of PEI while also reducing historical shareholder deficit.
About Prospera
Prospera is a public oil and gas exploration, exploitation and development company focusing on conventional oil and gas reservoirs in Western Canada. Prospera will use its experience to develop, acquire, and drill assets with potential for primary and secondary recovery.
For Further Information:
Shawn Mehler, PREmail: shawn@prosperaenergy.com Website: www.prosperaenergy.com
FORWARD-LOOKING STATEMENTS
This news release contains forward-looking statements relating to the future operations of the Corporation and other statements that are not historical facts. Forward-looking statements are often identified by terms such as “will,” “may,” “should,” “anticipate,” “expects” and similar expressions. All statements other than statements of historical fact, included in this release, including, without limitation, statements regarding future plans and objectives of the Corporation, are forward looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements.
Although Prospera believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because Prospera can give no assurance that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks. These include, but are not limited to, risks associated with the oil and gas industry in general (e.g., operational risks in development, exploration and production; delays or changes in plans with respect to exploration or development projects or capital expenditures; the uncertainty of reserve estimates; the uncertainty of estimates and projections relating to production, costs and expenses, and health, safety and environmental risks), commodity price and exchange rate fluctuations and uncertainties resulting from potential delays or changes in plans with respect to exploration or development projects or capital expenditures.
The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of Prospera. As a result, Prospera cannot guarantee that any forward-looking statement will materialize, and the reader is cautioned not to place undue reliance on any forward- looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release, and Prospera does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by Canadian securities law.
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.
1 Year Prospera Energy Chart |
1 Month Prospera Energy Chart |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions