Prospera Energy CEO Samuel David & VP Subsurface George Magarian provides an update on the company’s 18-well drill program. The company aims, in the next 2-3 years, to reduce production costs to possibly under C$20/barrel and achieve 10,000+ boepd by optimizing current assets and through strategic acquisitions. The company has about 400 million barrels of oil in place. And Prospera’s core assets in Saskatchewan and Alberta had previously, during peak oil times when they were being fully developed by multinational oil companies, already saw (without EOR) production of over 10,000 boepd. The company has the facilities to accommodate over 10,000 boepd.

https://www.prosperaenergy.com/

Stock Exchange Listings (TSX.V: PEI, OTC: GXRFF, FRA: OF6B)

0:00 Introduction

0:38 Horizontal drilling update

5:41 Enhanced oil recovery pilots

9:44 Vertical well drilling at Brooks upcoming

16:35 Why Samuel vended Brooks project into PEI

Sign up for our free newsletter and receive interview transcripts, stock profiles and investment ideas: http://eepurl.com/cHxJ39

Bill Powers owns shares of Prospera. Prospera Energy’s cautionary forward-looking statement also applies to the information discussed in this interview. The standard MSE disclaimer applies to this interview: https://www.miningstockeducation.com/disclaimer/