Prospera Energy Inc. (TSX.V: PEI) (OTC: GXRFF) (FRA: OF6B) On Track for Expansion in 2023 Amid Growing Oil and Gas Market in Canada

  • After a banner year in 2022, Prospera Energy remains poised for rapid growth in 2023; Prospera Energy Inc. recently announced the start of a 10-well horizontal drilling campaign that is intended to capture significant remaining heavy oil reserves
  • The company aims to demonstrate that the coexistence of growth and sustainability is possible; seeks to capitalize on the high-margin potential of its core Canadian properties while steering the oil industry towards greener oil operations and a more sustainable future
  • The company’s high aspirations come amid a burgeoning oil and gas market in Canada, for which 2023 is expected to be one of the pivotal moments

Following its transformational efforts in 2022, Prospera Energy (TSX.V: PEI) (OTC: GXRFF) (FRA: OF6B), a public oil and gas exploration, exploitation and development company focused on Western Canada, appears poised for record growth in 2023. Building on the success from 2022, when the company realized a Net Income of $3.1 million and experienced rapid growth when its revenue grew by a staggering 860% in Q2 2022. Prospera Energy expects significant reductions in production costs through 2024 and sizable increases in daily production. The company is currently exploring strategic acquisition targets to diversify Prospera heavy/light/gas product mix and path to 5,000 BPD over the next 24 months while expanding its reserve base to a billion barrels (

The company recently announced the spudding of the first horizontal well of the ten well modular multi-pad infill drill program, which is intended to accelerate production and recovery to capture the significant remaining heavy oil reserves (400 MMBBL). Stemming from a comprehensive geological, seismic, and…

Read More>>

NOTE TO INVESTORS: The latest news and updates relating to GXRFF are available in the company’s newsroom at

About MiningNewsWire

MiningNewsWire (“MNW”) is a specialized communications platform with a focus on developments and opportunities in the Global Mining and Resources sectors. It is one of 60+ brands within the Dynamic Brand Portfolio @ IBN that delivers: (1) access to a vast network of wire solutions via InvestorWire to efficiently and effectively reach a myriad of target markets, demographics and diverse industries; (2) article and editorial syndication to 5,000+ outlets; (3) enhanced press release enhancement to ensure maximum impact; (4) social media distribution via IBN to millions of social media followers; and (5) a full array of tailored corporate communications solutions. With broad reach and a seasoned team of contributing journalists and writers, MNW is uniquely positioned to best serve private and public companies that want to reach a wide audience of investors, influencers, consumers, journalists and the general public. By cutting through the overload of information in today’s market, MNW brings its clients unparalleled recognition and brand awareness.

MNW is where breaking news, insightful content and actionable information converge.

To receive SMS alerts from MiningNewsWire, text “BigHole” to 844-397-5787 (U.S. Mobile Phones Only)

For more information, please visit

Please see full terms of use and disclaimers on the MiningNewsWire website applicable to all content provided by MNW, wherever published or re-published:

Los Angeles, CA
310.299.1717 Office

MiningNewsWire is powered by IBN

Data & News supplied by
Stock quotes supplied by Barchart
Quotes delayed at least 20 minutes.
By accessing this page, you agree to the following
Privacy Policy and Terms and Conditions.