• Prospera Energy recently provided an update on the second phase of the company’s restructuring plan
• With its initial five horizontal wells and incremental crude production tracking ahead of expectations, Prospera have announced plans to continue their second phase beyond its initially mooted ten well program
• The company has now announced that it will proceed with a low dilutive capital raise of $3 million, with proceeds destined to fund the exploration company’s ongoing capex

Prospera Energy (TSX.V: PEI) (OTC: GXRFF) (FRA: OF6B), a public oil and gas exploration, exploitation and development company focusing on conventional oil and gas reservoirs in Western Canada, recently provided the market with an update on the second phase of its restructuring program. Boasting a business model centered around optimizing hydrocarbon recovery from legacy fields through innovative production practices and seeking to exploit the over 42,000 cumulative acres of territory across the company’s core assets, Prospera designed its second phase around drilling 10 horizontal well locations at its Cuthbert and Hearty Hills properties.

The second phase of Prospera Energy’s program has quickly advanced beyond initial expectations, with the company having already successfully drilled five horizontal wells of its multi-well infill horizontal development program (https://ibn.fm/Najtv). Prospera further revealed that with two of its…

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

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