Rhea-AI Impact
Rhea-AI Sentiment
Rhea-AI Summary
Prospera Energy Inc. (TSXV: PEI, OTC: GXRFF) announced immediate leadership changes with CEO Samuel David’s departure from the company and his resignation from the Board of Directors, effective November 18, 2024. The company will be led by the Board, consisting of Brian McConnell, Mark Lacey, Matthew Kenna, and Executive Chairman Shubham Garg, supported by CFO Chris Ludtke and COO Darren Jackson.
The company maintains its focus on optimizing and bringing online predictable, low-decline heavy oil barrels from Saskatchewan pools. Despite February’s record cold weather, operations continue with 6 well workovers completed in Hearts Hill, and a service rig currently working on a 14 well program in Luseland.
Prospera Energy Inc. (TSXV: PEI, OTC: GXRFF) ha annunciato cambiamenti immediati nella leadership con la partenza del CEO Samuel David e le sue dimissioni dal Consiglio di Amministrazione, efficaci dal 18 novembre 2024. L’azienda sarà guidata dal Consiglio, composto da Brian McConnell, Mark Lacey, Matthew Kenna e dal Presidente Esecutivo Shubham Garg, supportati dal CFO Chris Ludtke e dal COO Darren Jackson.
L’azienda mantiene il suo focus sull’ottimizzazione e sull’attivazione di barili di petrolio pesante prevedibili e a bassa declinazione provenienti dai giacimenti del Saskatchewan. Nonostante il freddo record di febbraio, le operazioni continuano con 6 interventi su pozzi completati a Hearts Hill e una piattaforma di servizio attualmente attiva su un programma di 14 pozzi a Luseland.
Prospera Energy Inc. (TSXV: PEI, OTC: GXRFF) anunció cambios inmediatos en el liderazgo con la salida del CEO Samuel David de la empresa y su renuncia a la Junta Directiva, efectiva el 18 de noviembre de 2024. La empresa será dirigida por la Junta, que consiste en Brian McConnell, Mark Lacey, Matthew Kenna y el Presidente Ejecutivo Shubham Garg, apoyados por el CFO Chris Ludtke y el COO Darren Jackson.
La empresa mantiene su enfoque en optimizar y poner en línea barriles de petróleo pesado predecibles y de baja declinación de los yacimientos de Saskatchewan. A pesar del frío récord de febrero, las operaciones continúan con 6 trabajos completados en pozos en Hearts Hill y una plataforma de servicio actualmente trabajando en un programa de 14 pozos en Luseland.
Prospera Energy Inc. (TSXV: PEI, OTC: GXRFF)는 CEO Samuel David의 퇴사와 이사회에서의 사임을 발표하며 즉각적인 리더십 변화를 알렸습니다. 이 결정은 2024년 11월 18일부터 효력이 발생합니다. 회사는 Brian McConnell, Mark Lacey, Matthew Kenna, 그리고 Executive Chairman Shubham Garg로 구성된 이사회에 의해 운영되며, CFO Chris Ludtke와 COO Darren Jackson의 지원을 받습니다.
회사는 사스캐처원 지역에서 예측 가능한 저하 중인 중유 배럴을 최적화하고 온라인으로 전환하는 데 집중하고 있습니다. 2월의 기록적인 추위에도 불구하고, Hearts Hill에서 6개의 유정 작업이 완료되었고, Luseland에서는 14개 유정 프로그램을 진행 중인 서비스 리그가 운영되고 있습니다.
Prospera Energy Inc. (TSXV: PEI, OTC: GXRFF) a annoncé des changements immédiats de direction avec le départ du PDG Samuel David et sa démission du Conseil d’Administration, effective le 18 novembre 2024. L’entreprise sera dirigée par le Conseil, composé de Brian McConnell, Mark Lacey, Matthew Kenna et du Président Exécutif Shubham Garg, soutenus par le CFO Chris Ludtke et le COO Darren Jackson.
L’entreprise maintient son accent sur l’optimisation et la mise en ligne de barils de pétrole lourd prévisibles et à faible déclin provenant des bassins de Saskatchewan. Malgré le froid record de février, les opérations se poursuivent avec 6 travaux de puits terminés à Hearts Hill, et une plateforme de service actuellement en cours sur un programme de 14 puits à Luseland.
Prospera Energy Inc. (TSXV: PEI, OTC: GXRFF) gab sofortige Führungswechsel bekannt, da CEO Samuel David das Unternehmen verlässt und aus dem Vorstand zurücktritt, wirksam am 18. November 2024. Das Unternehmen wird vom Vorstand geleitet, der aus Brian McConnell, Mark Lacey, Matthew Kenna und dem Executive Chairman Shubham Garg besteht, unterstützt von CFO Chris Ludtke und COO Darren Jackson.
Das Unternehmen konzentriert sich darauf, vorhersehbare, niedrig abfallende schwere Ölbarrels aus den Lagerstätten in Saskatchewan zu optimieren und online zu bringen. Trotz der rekordkalten Temperaturen im Februar setzen die Arbeiten mit 6 abgeschlossenen Bohrarbeiten in Hearts Hill fort, und ein Servicegerät ist derzeit mit einem Programm für 14 Bohrungen in Luseland beschäftigt.
Positive
- Continued operational progress with 6 well workovers completed in Hearts Hill
- Active 14 well program underway in Luseland
- Maintained business continuity with existing board members and executive team
Negative
- Sudden departure of CEO Samuel David
- Leadership transition period could create temporary operational uncertainty
CALGARY, Alberta, Feb. 18, 2025 (GLOBE NEWSWIRE) — Prospera Energy Inc. (TSXV: PEI, OTC: GXRFF) (“Prospera,” “PEI,” or the “Corporation”) announces that the company’s Chief Executive Officer, Samuel David, is no longer employed with the company, effective immediately. Mr. David resigned from the Board of Directors, effective November 18, 2024.
The Board, consisting of Brian McConnell, Mark Lacey, Matthew Kenna, and Executive Chairman Shubham Garg will lead the company’s strategic vision and business plan going forward, supported by CFO Chris Ludtke and COO Darren Jackson. The company continues on its business plan with a priority on optimizing and bringing online predictable, low-decline heavy oil barrels from its Saskatchewan pools. A service rig has been active intermittently through February’s record cold weather, with 6 well workovers complete in Hearts Hill and the service rig now in Luseland working on a 14 well program.
About Prospera
Prospera Energy Inc. is a publicly traded Canadian energy company specializing in the exploration, development, and production of crude oil and natural gas. Headquartered in Calgary, Alberta, Prospera is dedicated to optimizing recovery from legacy fields using environmentally safe and efficient reservoir development methods and production practices. The company’s core properties are strategically located in Saskatchewan and Alberta, including Cuthbert, Luseland, Hearts Hill, and Brooks. Prospera Energy Inc. is listed on the TSX Venture Exchange under the symbol PEI and the U.S. OTC Market under GXRFF.
For Further Information:
Shawn Mehler, PR
Email: investors@prosperaenergy.com
Chris Ludtke, CFO
Email: cludtke@prosperaenergy.com
Shubham Garg, Chairman of the Board
Email: sgarg@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 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.
FAQ
When did Prospera Energy (GXRFF) CEO Samuel David resign from the Board of Directors?
Samuel David resigned from Prospera Energy’s Board of Directors on November 18, 2024.
How many well workovers has GXRFF completed in Hearts Hill as of February 2025?
Prospera Energy has completed 6 well workovers in Hearts Hill as of February 2025.
What is the size of GXRFF’s current well program in Luseland?
Prospera Energy is working on a 14 well program in Luseland.
Who are the current board members of Prospera Energy (GXRFF) after CEO departure?
The current board consists of Brian McConnell, Mark Lacey, Matthew Kenna, and Executive Chairman Shubham Garg.
What is Prospera Energy’s (GXRFF) main operational focus in Saskatchewan?
Prospera Energy’s priority is optimizing and bringing online predictable, low-decline heavy oil barrels from its Saskatchewan pools.
