Prospera Energy Announces Service Rig Update as Luseland Workovers Come Online at 3.3x Prior Rates

(TSXV:PEI) Prospera Energy Inc. provided an update on its fall service rig program in Alberta. All five Luseland wells worked over between September 21 and October 10, 2026, have returned to production, averaging a combined 53.5 bbl/d of oil since first oil, up from 16.0 bbl/d before the workovers. The five Luseland jobs cost a combined $247K against a budget of $322K, coming in 23% under plan. The five Luseland wells have produced 793 bbl since startup through October 23, 2026. The Luseland program cost $247.1K against a $322.0K budget, $74.8K (23%) under plan, with four of five jobs under their individual AFEs. Capital efficiency was approximately $6.6K per incremental flowing barrel per day across the five Luseland wells. At Cuthbert, workovers are complete on wells 14-21-26-29W3 and 8-28-26-29W3, both being brought online, and a workover is underway on 10-21-26-29W3. For Luseland well 7-33-35-25W3, the AFE budget was $52.8K, actual $36.9K ($15.9K under), prior production 5.4 bbl/d, average since first oil 10.8 bbl/d, cumulative 162 bbl. Luseland well 10-4-36-25W3 had an AFE budget of $61.5K, actual $36.5K ($25.1K under), prior 1.0 bbl/d, average since first oil 16.0 bbl/d, cumulative 64 bbl. Luseland well 2-33-35-25W3 had an AFE budget of $63.5K, actual $67.1K ($3.6K over), prior 2.0 bbl/d, average since first oil 12.7 bbl/d, cumulative 343 bbl. Luseland well A14-18-36-25W3 had an AFE budget of $85.5K, actual $70.6K ($14.9K under), prior 3.8 bbl/d, average since first oil 9.5 bbl/d, cumulative 134 bbl. Luseland well 16-8-36-25W3 had an AFE budget of $58.7K, actual $36.0K ($22.7K under), prior 3.8 bbl/d, average since first oil 4.5 bbl/d, cumulative 90 bbl. At Cuthbert, well 14-21-26-29W3 previously produced approximately 100 mcf/d of gas and is expected to be a significant fuel gas producer. Well 8-28-26-29W3 historically produced approximately 15 bbl/d before it went down. Well 10-21-26-29W3 produced approximately 12 bbl/d before it went down, with significantly higher production rates expected after start-up. The October 2026 Key Wells Report has been updated to cover all ten wells in the first phase and the five Luseland wells worked over this fall. The TSX Venture Exchange has approved an extension to the closing of Prospera's non-brokered private placement of up to 400,000,000 units at $0.03 per unit for gross proceeds of up to $12 million, now expected to close on or before November 7, 2026. Each unit consists of one common share and one common share purchase warrant, with each warrant exercisable at $0.05 for two years following closing. All securities issued will be subject to a statutory hold period of four months and one day from closing. The offering remains subject to TSX Venture Exchange approval.

Prospera Energy Restarts Five Additional Luseland Wells at $6,400 per Flowing Barrel; First Ten Reactivations Return 1.92x Capital

(TSXV:PEI) Prospera Energy Inc. has completed workovers on five heavy oil wells at Luseland, Saskatchewan, between September 21 and October 10, 2026, at a combined cost of $247.2K, which is $74.7K (23%) under the budgeted $321.9K. Four of these wells are back on production, averaging a combined 54.5 bbl/d of oil since returning to production, up from 15.0 bbl/d prior to the workovers, representing a 3.6-fold increase. The fifth well is currently recovering load fluid. The service rig has now moved to five wells at Cuthbert and three at Hearts Hill, and will return to Luseland for a six-well reactivation program. The October 2026 Key Wells Report details the first ten wells in the reactivation program, which were brought back on production between March and October 2025 for $1.14 million of capital. By the end of September 2026, these ten wells had sold 62,090 boe (98% oil), generated $5.00 million in revenue, and $2.19 million in operating income, achieving a 1.92x return on capital invested. Nine of the ten wells have paid out in an average of 11 months, with three reaching a second payout, and the program as a whole crossed payout in April 2026. The five Luseland wells worked over this fall had individual job costs ranging from $36.0K to $70.6K, with four coming in under their individual AFEs. Well 7-33-35-25W3 leads with an average of 28.9 bbl/d post-workover, up from 5.4 bbl/d, and a peak day of 35.2 bbl/d. Well 2-33-35-25W3 saw the largest increase, from 2.0 bbl/d to 11.2 bbl/d (5.6x), with a peak of 21.1 bbl/d. The average capital per incremental bbl/d added across the five-well program is about $6.4K. The company has identified more than 140 shut-in reactivation candidates, with 41 ranked as Tier 1. The Key Wells Report provides detailed capital, revenue, operating income, cumulative volumes, and payout timing for each well, with standout results including 10-07-36-25W3, which sold 10,386 barrels and earned $430.4K on $157.6K invested, and 03-09-36-25W3, which achieved a 2.79x capital multiple on $75.0K invested. Prospera will host a live investor webinar on October 16, 2026, at 10:00 a.m. MT to discuss these results. Couloir Capital Ltd. initiated research coverage on October 2, 2026, assigning a BUY rating and a fair value estimate of $0.06 per share. Prospera has engaged Independent Trading Group as market maker under an agreement dated October 14, 2026, for $5,500 per month, payable monthly in advance, with an initial term of one month and automatic renewals. The company has also engaged Signal Capital Advisors Inc. for investor relations and capital markets advisory services under an agreement dated August 17, 2026, at $4,250 for the first month and $8,500 per month thereafter, plus taxes and pre-approved expenses, with an anticipated initial-term cost of $21,250, and has granted Signal 170,000 stock options exercisable at $0.05 for five years, vesting quarterly over twelve months. Prospera has entered into shares-for-debt settlement agreements with multiple vendors, including the issuance of 3,068,809 common shares to settle $92,850.00 in trade payables, 996,005 common shares to settle $42,800.24, and 5,500,348 common shares plus 1,250,000 warrants to settle $202,531.31, with shares subject to a four-month and one day trading restriction and TSXV acceptance.

Prospera Energy Announces Two-Year Extension of Senior Term Loan and Repricing of Equity Financing

(TSXV: PEI) Prospera Energy has entered into an amendment to its senior term loan, extending the maturity date by two years, from August 31st, 2026 to August 31st, 2028. The facility has a total principal amount of $20,739,465 and retains all of its original terms, including its 12% annual interest rate.

Prospera Announces Commencement of Service Rig Operations

(TSXV: PEI) Prospera Energy Inc. announced the commencement of service rig operations across its core Saskatchewan heavy oil properties, marking the launch of its second half 2026 workover and reactivation campaign. The 2024/2025 reactivation program consisted of 17 wells for a total capital expenditure of $1.64MM and has generated total net operating income of $1.70MM as of June 30, 2026. Five wells in this program have achieved more than 2X payout. The company now holds a consolidated 100% working interest position across its Saskatchewan core heavy oil properties. Mr. Christopher Moore's resignation from the Board of Directors was effective July 8th, 2026, and is complete and final due to medical and personal reasons. Prospera Energy Inc. is headquartered in Calgary, Alberta, and is listed on the TSX Venture Exchange under the symbol PEI. The company projects that this campaign builds directly toward its 2026 growth plan and positions Prospera to exit the year at a materially higher production rate.

Prospera Reports Record Revenue and Significant Increase in Operating Netback in Q2 2026

(TSXV: PEI) Prospera Energy Inc. reported record sales revenue of $6.2 million ($91.17/boe) for Q2 2026, the highest quarterly revenue in five years, and an operating netback of $2.0 million or $29.65/boe, the best in 24 months. Average net sales volumes for Q2 2026 were 745 boe/d, up 3% from Q1 2026, with field operating costs per boe falling 5% quarter over quarter to $47.45/boe. Total operating costs for Q2 2026 were $3.22 million, unchanged from Q1 2026 despite higher volumes, and trade and other payables were reduced by $1.8 million (10%) since year-end to $16.3 million. The company announced an extension of its $12.0 million unit offering to August 31, 2026, with each unit priced at $0.04 and each warrant exercisable at $0.06 per share for two years, potentially providing up to an additional $18.0 million if fully exercised. The 16 wells reactivated in 2025 averaged 133 bbl/d in H1 2026, up 64% from their 2025 average, and reached 141 bbl/d in June, with capital efficiency at approximately $13,300 per flowing barrel per day. The company projects that if recent price levels hold and the WCS differential remains consistent, operating netbacks would remain and grow meaningfully above the Q2 average of $29.65/boe, providing additional capacity to advance the Luseland program and continue retiring legacy liabilities.

Prospera Announces $12.0 Million Non-Brokered Equity Financing to Scale Its Heavy-Oil Strategy

(TSXV: PEI) Prospera Energy Inc. announced a non-brokered private placement of units at $0.04 per unit for aggregate gross proceeds of up to $12,000,000, the largest financing in the Company's history. Approximately $10,000,000 of the proceeds is earmarked for the Company's workover and reactivation program, with the remaining $2,000,000 directed to working capital. Since its strategic shift twenty months ago, Prospera has completed 19 reactivations and more than 60 workovers, increasing production at its Luseland property from approximately 54 boe/d to 260 boe/d, a 381% increase. The company reports per-well payback periods of six to eight months and capital efficiency of less than $10,000 per boe/d. Prospera holds approximately $75.8 million of accumulated tax pools, including $38.1 million of non-capital losses and $32.1 million of resource pools, which are expected to fully shelter forecast pre-tax income. The company has entered into shares-for-debt settlements totaling $42,800.24 and $170,476.02, satisfied through the issuance of 996,005 and 4,100,306 common shares, respectively. The Offering remains subject to the approval of the TSX Venture Exchange and is targeted to close on or before July 15, 2026.

Prospera Energy Announces Q1 2026 Financial Results

Prospera Energy Inc. (TSXV: PEI) announced its operational and financial results for the three months ended March 31, 2026. The company reported uninterrupted winter operations, a significant increase in March operating profitability due to strengthening oil prices, and completed financing and liability management transactions that improved its near-term capital structure. Field uptime reached approximately 85%, and average net sales were 720 boe/d, a 9% increase over Q1 2025. Capital spend for the quarter was $0.7 million, and sales revenue for the quarter totaled $4,522,137 with an operating netback averaging $11.98/BOE. Prospera settled approximately $1.8 million of payables via shares-for-debt and closed a $3.0 million private placement, raising $1.2 million in cash and converting $1.8 million of obligations. The company drew an additional $0.65 million under its term debt facility and repaid $0.2 million in promissory notes. Prospera is positioned to benefit from elevated oil prices and expects to advance the Luseland development program and continue retiring legacy liabilities if current commodity price levels are maintained.

Prospera Announces Operations Update and May Conference Call

Prospera Energy (TSXV: PEI) has provided an operational update on its Saskatchewan heavy oil portfolio, announced its May 2026 Corporate Update Conference Call, and highlighted recent industry recognition. Hearts Hill delivered production growth from approximately 135 BOE per day in January 2026 to approximately 175 BOE per day in early May 2026, a 30% increase. Luseland's net production rose from approximately 65 BOE per day in October 2024 to approximately 255 BOE per day after 18 months, nearly quadrupling output. The 2026 Cuthbert service rig program is active, with the rig now on its third well and the first two wells already contributing incremental barrels. Prospera has hedged 300 barrels per day of WCS production at a differential of WTI minus $12.40 for six months starting April 1, 2026. The company has also settled $72,671.43 in trade payables through the issuance of 1,782,746 common shares. These developments reinforce Prospera's reactivation-led strategy and ongoing efforts to optimize production and cash flow, with further updates expected at upcoming industry events and the May 2026 conference call.

Prospera Energy Reports 2025 Year-End Audited Financials and Reserves

Prospera Energy Inc. (TSXV: PEI) reported its operational and financial results for the year ended December 31, 2025, highlighting significant growth in reserves and production. The company completed the acquisition of White Tundra Petroleum and increased its working interest in its three core heavy oil properties to 100%. Average net sales rose 19% year-over-year to 745 BOE/d in Q4 2025, and full-year sales volumes grew 14.5% to 273,333 BOE. Estimated future development costs for proved plus probable reserves were $60.9 million at December 31, 2025, up from $44.1 million at December 31, 2024. The company also amended its senior lending facility, increasing the principal amount to $20,739,465 and extended the maturity date by three months.

Letter to Prospera Shareholders: Eighteen Months of Transformational Execution

Prospera Energy Inc. (TSXV: PEI) announced significant operational progress over the past eighteen months following a management and board restructuring on October 31, 2024. The company completed 64 workovers and brought 21 wells back online, resulting in Luseland production increasing from 54 BOE/d to 258 BOE/d, a 378% increase. Prospera reports more than 400 million barrels of original oil in place with current recovery factors at just 2 to 8 percent. The company emphasizes disciplined, capital-efficient reactivations and has more than 140 reactivation targets remaining, 41 of which are ranked Tier 1. Operating cash flows per barrel increased 700% between February and March, with April commodity pricing trending even higher.