Prospera Energy completes 32 workovers in Q1 2025

Prospera Energy Inc., based in Calgary, has announced several updates regarding its operations and finances. The company completed 32 workovers and reactivations in the first quarter of 2025. They paused work on March 20 for spring break-up. Most of the completed jobs were in Hearts Hill, Luseland, and Cuthbert. Prospera reported 16 jobs in Hearts Hill, 11 in Luseland, and five in Cuthbert. More updates will follow in their upcoming operations report. Prospera also closed a deal to acquire a 10% working interest in their properties in Hearts Hill, Luseland, and Cuthbert from a joint venture partner. The total cost of this transaction is about $1.79 million. This amount includes cash, equity through new shares, and forgiveness of existing debts. Additionally, the company issued 3,076,923 warrants. These allow the holder to buy shares at a set price in the future. They also amended the terms for outstanding warrants and granted stock options to management team members. To settle outstanding debt, Prospera issued shares to cover interest expenses totaling $72,765. The company specializes in oil and gas production, focusing on environmentally safe and efficient methods.