EnergyNewsBreaks – Prospera Energy Inc. (TSX.V: PEI) (OTC: GXRFF) (FRA: OF6B) Announces 508% Increase in 2023 PDP Reserve Valuation
Prospera (TSX.V: PEI) (OTC: GXRFF) (FRA: OF6B) today announced a 508% increase to its proven developed producing (“PDP”) reserve value of 27MM$, reflecting the success of the company’s 2023 development program. In addition, Prospera’s proven plus probable (“2P”) reserve value increased by over 60MM$ to a total of 133MM$ – largely driven by the undeveloped reserve value increase from 58MM$ to $98MM$. InSite Petroleum Consultants Ltd. independently assessed PEI’s Dec. 31, 2023, year-end reserves in accordance with COGEH standards. Using a combination of vertical and horizontal wells, primarily in core assets located in Southwest and West-Central Saskatchewan (>42,000 acres), the…
