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An update from Prairie Provident Resources ( (TSE:PPR) ) is now available.
Prairie Provident Resources has announced a brokered equity financing agreement worth up to $9.1 million, with significant lead orders of $7.35 million, to fund additional drilling projects and corporate purposes. This financing will support the company’s strategy to enhance growth through its Basal Quartz horizontal drilling program in the Michichi area, a promising oil play with substantial economic potential. The company plans to drill three Basal Quartz horizontal wells in the first quarter of 2025, leveraging its unique market position and operational efficiency.
More about Prairie Provident Resources
Prairie Provident Resources Inc. is an energy company engaged in the exploration and development of oil and natural gas properties. The company focuses on its Basal Quartz play in the Michichi area of Alberta, Canada, where it has a significant land position and numerous drilling opportunities. Prairie Provident is unique in its position as the only publicly traded company actively drilling in this play, which is considered a top-tier oil-producing play in the Western Canadian Sedimentary Basin.
YTD Price Performance: -32.50%
Average Trading Volume: 28,346
Technical Sentiment Consensus Rating: Hold
Current Market Cap: $37.59M
For detailed information about PPR stock, go to TipRanks’ Stock Analysis page.
