Prospera Energy Inc (TSE:PEI) has released an update.
Prospera Energy Inc. has reported a significant year of transformation in 2023, marked by a shift to horizontal well technology and diversification into medium/light-oil production. Despite challenges from low commodity prices and adverse weather conditions, the company significantly increased its production capacity and achieved an 86% jump in Q4 net sales compared to the previous year. Prospera’s financial strategy included raising $16 million in financing and restructuring efforts, resulting in improved asset value and a positive shareholders’ equity balance.
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