Prospera Energy, a publicly traded Canadian energy company, has announced a leadership and operations Update.
Leadership Announcement
Prospera Energy has announced key appointments to its leadership team, positioning the Company for sustained long term success. Effective immediately, Shubham Garg, who has served as Chairman of the Board since October 2024, will assume the additional role of Interim Chief Executive Of cer. Alongside this, Prospera welcomes Mr. Christopher Moore to its Board of Directors. A seasoned entrepreneur and investor, Mr. Moore is a prominent shareholder of the Corporation and brings a formidable blend of industry expertise and market insight. Prospera’s ve-member Board now collectively owns 13% of the Company’s outstanding common equity, while reporting insiders control 36%, underscoring a strong alignment between leadership and shareholder interests.
Mr. Moore brings a deep understanding of the oil and gas markets, paired with extensive experience in scaling businesses. His data-driven approach and sharp grasp of market trends will signi cantly enhance Prospera’s strategic direction. Beyond his business acumen, Mr. Moore is well versed in corporate governance and is deeply committed to fostering transparency, accountability, and ethical leadership. With a proven track record of guiding organizations through governance enhancements, he will play a pivotal role in strengthening Prospera’s internal policies and ensuring the highest standards of integrity are upheld. His leadership will be instrumental as Prospera navigates through complex regulatory landscapes and will promote a culture of responsibility, supporting both PEI’s long-term success and the trust of stakeholders.
Loan Amendment
The Corporation announces a further amendment to its $11,000,000 promissory note, originally dated July 7, 2024, in collaboration with its principal lender. Following previous increases, an additional $1,000,000 has been added, bringing the total principal amount to $15,500,000. The note retains its original terms, including a 12% interest rate and a two-year maturity, with no other changes. This amendment remains subject to acceptance by the TSXV.
Operations Update
Amid volatile oil prices and the looming threat of potential tariffs, Prospera is proactively adapting to operational uncertainty by refining its short-term business strategy. The Corporation is evaluating options such as pausing growth capital—which is already on hold due to the seasonal spring break up—and engaging in discussions with service providers to optimize vendor payment strategies. These measures af rm Prospera’s commitment to maintaining nancial exibility and operational resilience in an uncertain market.
Prospera’s reactivation program, completed in Q1 2025 at its Luseland property, continues to deliver impressive results. As of April 8th , 2025, Luseland production reached 190 barrels per day (bbls/d), re ecting a remarkable 186% increase since the transformative changes to the company’s board and management on October 31st , 2024. Ongoing well optimizations are driving further success, with high uid levels being effectively managed through pump speed adjustments as sand cuts decline, while signi cant opportunities for additional optimization remain. The company will provide a comprehensive operations update later this month, offering further insights into its progress and strategic direction.
About Prospera
Prospera Energy Inc. is a publicly traded Canadian energy company specializing in the exploration, development, and production of crude oil and natural gas. Headquartered in Calgary, Alberta, Prospera is dedicated to optimizing recovery from legacy fields using environmentally safe and ef cient reservoir development methods and production practices. The company’s core properties are strategically located in Saskatchewan and Alberta, including Cuthbert, Luseland, Hearts Hill, and Brooks. Prospera Energy Inc. is listed on the TSX Venture Exchange under the symbol PEI and the U.S. OTC Market under GXRFF.
Source: Prospera Energy
