Prospera Energy has reported operational advances at its Luseland property and adjustments to its capital raising plan. Management said recent well reactivations and production optimization programs have materially increased reservoir output. The company also amended terms of a non-brokered unit offering, including extended warrant exercise periods and a revised target close date.
The update preserves the dates and figures disclosed by the corporation and summarizes field-level performance, financing mechanics and other corporate actions. Certain statements in this report are forward-looking statements as defined by the company.
Field performance highlights at luseland
Prospera reactivations boost near-term output at Luseland
Prospera Energy has restarted multiple legacy wells at its Luseland property, restoring production and improving cash flow. The operator attributes higher oil rates and lower water cuts to targeted engineering measures implemented during the reactivation program. Management describes the work as a capital-efficient effort to recover value from long-shut wells and to support near-term liquidity.
Operational impact and objectives
The program focused on wellbore rehabilitation, downhole cleanup and flow-path optimization. These interventions reduced unwanted fluid entry and stabilized production profiles. Prospera says the measures are being applied with attention to cost control and repeatability across the asset base.
Key well case studies
Well 10-07 is highlighted for sustained, steady production following reactivation. Management reports improved oil rates and a decline in water cut for this well. They note the well still shows optimization potential through further calibration of drawdown and fluid management to limit water coning.
Prospera intends to use 10-07 as a technical benchmark for incremental interventions elsewhere in the pool. Similar low-cost adjustments are being assessed for other reactivated wells to extend productive life and maximize short-term recovery.
Company statements frame the program as part of a broader operational plan to enhance cash flow while preserving capital flexibility. Further monitoring and routine performance reviews are planned to validate repeatability and to guide any additional work.
Well performance updates at luseland
Continuing routine monitoring, operator adjustments on 10-08 have improved near‑term production efficiency. Engineers raised pump speeds in measured increments and refined surface handling. The operator reports higher oil rates and a declining water cut following the tuning program. Management said it will continue the incremental approach as reservoir and fluid properties evolve.
01-17, located on the updip erosional margin of the Luseland pool, is producing with a very low water cut and generating strong netbacks. Its current output aligns with historical results in Section 17, where several legacy wells have produced more than 400,000 barrels. The operator is prioritizing active sand management to protect wellbore integrity and sustain production economics.
Further monitoring and routine performance reviews are planned to validate repeatability and to guide any additional interventions. Operators will use those reviews to calibrate pumping regimes and sand‑control measures to maintain cash flow and reserves recovery.
Following reviews to calibrate pumping regimes and sand‑control measures, the operator reported that well 16-07 resumed production after more than two decades offline. The well now contributes materially to field volumes, illustrating the potential uplift from long‑term shut‑ins when reactivation is pursued.
Well 03-09 returned to service under a recycle pump strategy and was fitted with an upgraded sand‑handling pump. Initial output has been strong and stable. The operator implemented staged RPM increases to boost throughput while protecting the wellbore; current sand cut is about 2%. The company said similar targets across its holdings could be brought back at relatively low incremental cost.
The company said similar targets across its holdings could be brought back at relatively low incremental cost. Continuing that narrative, well 07-33 started with a low historical recovery factor but has responded to active management measures.
Operators adjusted pump speeds, applied chemical treatments and carried out periodic superflushes to remove sand. Controlled sand lifts reached up to 8% during the monitored period and were managed without deploying a service rig. The well is now producing higher volumes of fluid joints, measured as JOF, to enhance effective permeability and improve oil mobility.
Capital raise: amended unit offering and related items
Capital raise: amended unit offering
Prospera has amended the terms of a previously announced non-brokered unit offering, first disclosed in a press release dated January 19, . The company extended the warrant exercise period so that each warrant will be exercisable at $0.05 per common share for a period of three years from issuance, subject to standard acceleration and anti-dilution provisions.
The anticipated closing date has been moved to on or before March 15, . The offering remains subject to acceptance by the TSX Venture Exchange.
This amendment follows recent operational updates and is intended to provide investors with a longer exercise window while preserving customary protections for existing shareholders. Prospera expects to report final closing details pending regulatory acceptance.
Following its earlier statement that it expects to report final closing details pending regulatory acceptance, Prospera outlined the terms of the amended offering.
Units will be sold at $0.035 per unit. Each unit comprises one common share and one warrant. Each warrant is exercisable for one common share at a $0.05 exercise price. The issuer’s target gross proceeds remain CAD 3,000,000. Finders on qualifying placements may receive up to 3% in cash and up to 3% in warrants. Net proceeds are earmarked for additional well reactivations, production optimization and general working capital to support near-term growth.
Other corporate actions
Prospera disclosed a shares-for-debt settlement involving twelve vendors. The vendors will discharge a total of $79,532.98 in trade payables through issuance of 1,590,660 common shares. The shares are issued at a deemed price of $0.05 per share. They will carry the standard four months plus one day trading restriction and remain subject to TSXV approval.
Governance, communications and risk considerations
Management said the financing and the shares-for-debt arrangement are intended to strengthen liquidity and expedite operational workstreams. The company did not disclose specific timelines for warrant exercises or additional reactivation milestones. Investors should note the customary dilution from unit issuances and potential additional dilution if warrants are exercised.
All arrangements described are subject to regulatory approval and customary closing conditions. Prospera said it will disclose final closing details once regulatory acceptance is received.
Upcoming investor call and regulatory disclosure
Prospera will continue its monthly conference call program to review operating results, well-level data and financial metrics. The next call is scheduled for Wednesday, February 18 at 10 AM MST. The session will include an audio presence on X Spaces and a recording that the company said will be made available after the event.
Prospera provided contact points for investor relations and senior finance officers for follow-up inquiries. These contacts are intended for requests related to the operating update and the amended offering described earlier in this report.
Cautionary statement
Portions of this update contain forward-looking statements about future operations and financing outcomes. Actual results may differ materially due to factors including commodity prices, reservoir performance, regulatory approvals and other risks identified by the company.
Prospera advised readers to consider those risks when evaluating the operational and financing information presented here. The company said it will disclose final closing details once regulatory acceptance is received.