We received an update on Prospera Energy (🇺🇸TRBMF -- 🇨🇦GXRFF) from CEO Samuel David along with some valuable feedback from White Tundra’s Shubham Garg. The recently released resource report shows that Prospera’s reserves grew 50 percent last year. Production held steady during the very cold months of winter at the company’s Alberta and Saskatchewan fields.

 CEO David believes that 2023 will be a transformative year and production could double if circumstances go in Prospera’s favor. That would be a near 50-fold increase from when David took over the company In addition, acquisitions are very much on the table and being actively pursued by the company.

 The 2023 drill program will get underway in the summer, with 18 wells being drilled. With the increasing reliance on tech to maximize recoveries, strict reservoir management is more important than ever. CEO David’s strategy is to bring new wells on stream gradually and increase output once the scope of the reservoir is fully understood. This patient process will ensure these new wells produce for decades at extremely low decline rates, all while seeing production costs decline and profits increase.

Garg summed this up quite well stating, “Prospera is now in the escape velocity out of Earth and once you get into low orbit, it's a lot easier to get into high orbit from there. It is just the way physics and science works, and it applies to reservoirs as well.”

And we as shareholders in Prospera agree that the merger of technology, reservoir management, new efficiencies and the utmost respect for the environment will see the company reach new heights in 2023.

Company website https://prosperaenergy.com

Shubham’s website https://whitetundra.ca