Prospera Energy Inc. (TSXV: PEI) wrapped up its autumn service-rig itinerary with a clear headline: five previously stalled wells in the Luseland field are now delivering more than three times their historic flow rates. The campaign, which ran from September 21 to October 10, 2026, not only revived production but also demonstrated disciplined spending, finishing 23 % under budget.
Luseland workover performance
The aggregate result of the five workover projects is an average of 53.5 barrels of oil per day (bbl/d) since first oil, up from the pre-workover average of 16.0 bbl/d. Cumulative output through October 23, 2026 stands at 793 barrels. Capital deployed amounted to $247,000 against an authorized budget of $322,000, delivering a cost efficiency of roughly $6,600 per incremental flowing barrel per day.
Well-by-well outcomes
7-33-35-25W3 was allocated a $52,800 AFE and actual spend reached $36,900, saving $15,900. The well, previously throttled by sand accumulation, now runs with a CHOPS-specific rotor, achieved a peak of 35.2 bbl/d, and has produced 162 bbl to date. It awaits a rod-rig operation to resume full RPM.
10-4-36-25W3 benefitted from a $61,500 AFE, with actual costs of $36,500 (a $25,100 saving). After sand-related failure, the upgraded pump and CHOPS rotor pushed average flow to 16.0 bbl/d, peaking at 23.1 bbl/d**, and the well has delivered 64 bbl since restart on October 20, 2026.
2-33-35-25W3 slightly exceeded its $63,500 AFE, spending $67,100 (+$3,600). A rod-break prompted a full string replacement and an upsized pump with CHOPS rotor. The well now averages 12.7 bbl/d, contributing the largest cumulative volume—343 bbl—of the group.
A14-18-36-25W3 operated under an $85,500 AFE, with actual spend $70,600 (saving $14,900). Sand buildup was addressed by installing a new recycle pump—the first in Section 18—alongside a CHOPS rotor, raising average flow to 9.5 bbl/d and cumulative production to 134 bbl.
16-8-36-25W3 was budgeted at $58,700 and completed for $36,000 (saving $22,700). The well’s tiny original pump was replaced, sand-handling chemicals and recycle volumes were increased, and today it runs at an average of 4.5 bbl/d**, having produced 90 bbl since restart.
Cuthbert field update and financing extension
After wrapping Luseland, the service rig moved to the Cuthbert asset. Two wells are now online: 14-21-26-29W3, which suffered a broken rod, and 8-28-26-29W3, which faced combined rod-pump failure. Both have received new pump-rod strings and are slated to contribute fuel-gas and oil, respectively. A third well, 10-21-26-29W3, is in the final stages of workover after retrieval of a stuck tubing string; it previously produced around 12 bbl/d.
Parallel to the operational progress, the TSX Venture Exchange approved an extension of Prospera’s private placement. The offering now targets up to 400 million units at $0.03 per unit, potentially raising $12 million. Each unit comprises one common share and one warrant exercisable at $0.05 for two years after closing. The transaction is expected to close on or before November 7, 2026, subject to TSXV approval and a statutory four-month hold period.
The company also refreshed its Key Wells Report, a scorecard that tracks capital, revenue, operating income, cumulative volumes and payout timing for the ten-well first-phase portfolio, now including the five Luseland workovers.
Overall, Prospera’s fall program illustrates how targeted sand-management strategies, such as CHOPS pump profiles and recycle-pump installations, can unlock significant incremental production while keeping expenditures tightly below plan.
