Prospera Energy Inc. (TSX.V: PEI, OTC: GXRFF) ("Prospera", “PEI” or the "Corporation")
Prospera is refining its production reporting process to provide greater consistency and enhanced transparency for shareholders. Moving forward, Prospera will apply the following standardized definitions in all production reporting:
- Gross Production: Represents Prospera Energy’s working interest (operated or non-operated) before the deduction of royalties, excluding any royalty interests held by Prospera Energy.
- Net Production: Represents Prospera Energy’s working interest (operated or non-operated) after deducting royalty obligations, including any royalty interests in production or reserves.
These standardized terms are as outlined in ASC 51-324. Additionally, Prospera Energy will report gross production at the first point of sale. As a result, production figures will exclude both produced gas at the wellhead that is used in operations, and production volumes from partners who are in arrears, even when Prospera realizes cash proceeds from these volumes.
In line with Prospera’s commitment of clear and consistent production data, the Company is also providing updates on previously reported production figures to ensure alignment with this reporting framework and standardized definitions:
News Release Dated December 18, 2024, Titled:
“Prospera Announces Monthly Operations Update and Increase to Term Loan”
- The reported 686 boe/d for November 2024 represented wellhead production at 100% working interest, including JV partner production. 529 boe/d was PEI’s gross production at the first sales point over the same period.
- The reported 803 boe/d for December 1 – 10, 2024 represented wellhead production at 100% working interest, including JV partner production. 622 boe/d was PEI’s gross production at the first sales point over the same period
News Release Dated January 21, 2025, Titled:
“Prospera Announces Monthly Operations Update”
- The 661 boe/d reported for Dec 2024 reflects gross production at the first sales point.
- The 682 boe/d reported for Jan 1-19, 2025 reflects gross production at the first sales point.
- The 751 boe/d reported for Jan 16, 2025 reflects gross production at the first sales point.
