- CEO and President Samuel David discussed the success of Prospera’s drilling program in recent interview, revealed positive results and cost reductions
- Prospera management estimates as little as 8% of over half a billion barrels across assets have been recovered using traditional vertical well technology
- Phase 2 of drilling program focused on transition from vertical to horizontal well drilling, allowing the company to tap into the significant remaining reserves
- Recent Q3 2023 financial highlights include Q/Q rise in operating income from $783,084 to $1,101,827 and positive net income of $71,011 compared to net loss of $779,438 in Q2 2023
Samuel David, President and CEO of Prospera Energy (TSX.V: PEI) (OTC: GXRFF) (FRA: OF6B), recently discussed the company’s successful drilling program in an interview on the Financial Survival Network (https://ibn.fm/44mbK).
“We have drilled five horizontals and infield drilling based on geological well delineation, well control, and seismic delineation,” said Mr. David during the interview. “Therefore, the chance of success of geological, of finding the reservoir, is high. The only risk is mechanical because this is infill low-risk…
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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