CALGARY, Alberta, June 26, 2022 (GLOBE NEWSWIRE) — Prairie Provident Resources Inc. (“Prairie Provident”, “PPR” or the “Company”) is pleased to announce the appointment of Matthew Shyba to its Board of Directors (the “Board”), effective July 1, 2022.

Mr. Shyba owns 4,238,097 common shares of PPR, representing approximately 3.3% of the issued and outstanding common shares of PPR. He is a corporate lawyer and private investor with over 10 years of capital markets experience, with significant expertise in corporate finance, corporate governance and mergers & acquisitions. In addition, he is currently Chief Executive Officer of Shyba Capital Inc., a private … Continue Reading

CALGARY, Alberta, June 12, 2022 (GLOBE NEWSWIRE) — Prairie Provident Resources Inc. (“Prairie Provident”, “PPR” or the “Company”) is pleased to announce an update to its 2022 capital budget and non-core disposition process.

MESSAGE TO SHAREHOLDERS

Tony Berthelet, President & Chief Executive Officer, commented: “Given significantly higher oil and natural gas prices, PPR has chosen to pivot our second half 2022 capital program toward non-core reactivations, recompletions and optimization projects to maximize shareholder value. In addition, we expect to drill a Glauconite formation well at Princess as previously announced. The anticipated benefits of this change in scope include improved reserve … Continue Reading

CALGARY, Alberta, May 26, 2022 (GLOBE NEWSWIRE) — Prairie Provident Resources Inc. (“Prairie Provident” or the “Company”) announces shareholder voting results on the election of directors and appointment of an auditor, as considered by shareholders at the Company’s annual meeting held today.

Election of Directors

At the meeting, each of Patrick McDonald, Bettina Pierre-Gilles, Ajay Sabherwal and Tony Berthelet was nominated and elected, by ordinary resolution, as a director of the Company for the ensuing year, to hold office until the close of the next annual meeting of shareholders.

As previously announced, the terms of office of Rob Wonnacott and … Continue Reading

CALGARY, Alberta, May 24, 2022 (GLOBE NEWSWIRE) — Prairie Provident Resources Inc. (“Prairie Provident”, “PPR” or the “Company”) announces that Mr. Derek Petrie and Mr. Rob Wonnacott have decided to retire from the Board of Directors (the “Board”) and will not be standing for re-election at this week’s annual shareholders’ meeting to be held at 10:00 a.m. (Calgary time) on May 26, 2022. Mr. Petrie and Mr. Wonnacott have served on the Board since 2016 and 2011 respectively.

“We are grateful for the contributions Derek and Rob have made during their tenures at Prairie Provident guiding the Company through some … Continue Reading

CALGARY, Alberta, May 11, 2022 (GLOBE NEWSWIRE) — Prairie Provident Resources Inc. (“Prairie Provident”, “PPR” or the “Company”) is pleased to announce our operating and financial results for the three months ended March 31, 2022. PPR’s unaudited condensed interim consolidated financial statements for the three months ended March 31, 2022 (“Interim Financial Statements”) and related Management’s Discussion and Analysis (“MD&A”) are available on our website at www.ppr.ca and filed on SEDAR.

MESSAGE TO SHAREHOLDERS

Tony Berthelet, President & Chief Executive Officer commented: “The production results from our first quarter Michichi drill campaign confirms the optimized wellbore placement in the lower … Continue Reading

CALGARY, Alberta, March 29, 2022 (GLOBE NEWSWIRE) — Prairie Provident Resources Inc. (“Prairie Provident”, “PPR” or the “Company”) (TSX:PPR) is pleased to announce our operating and financial results for the fourth quarter and year ended 2021. PPR’s audited annual consolidated financial statements (“Annual Financial Statements”) and related Management’s Discussion and Analysis (“MD&A”) and annual information form dated March 29, 2022 (“AIF”) are available on our website at www.ppr.ca and filed on SEDAR at www.sedar.com.

MESSAGE TO SHAREHOLDERS  

Tony Berthelet, President & Chief Executive Officer commented: “2021 saw the Company increase focus to maximizing cash flow from existing assets and unlocking … Continue Reading

CALGARY, Alberta, March 07, 2022 (GLOBE NEWSWIRE) — Prairie Provident Resources Inc. (“Prairie Provident”, “PPR” or the “Company”) is pleased to announce the appointment of Mr. Jason Dranchuk to Prairie Provident as Vice President, Finance and Chief Financial Officer effective April 1, 2022.

Mr. Dranchuk brings more than 25 years of experience across the Western Canadian upstream energy sector in various senior finance roles, including 10 years as Chief Financial Officer. He spent several years in a variety of operational finance roles of increasing responsibilities in both exploration/production energy companies and energy service providers. He has specialist skills in a … Continue Reading

CALGARY, Alberta, March 03, 2022 (GLOBE NEWSWIRE) — Prairie Provident Resources Inc. (“Prairie Provident”, “PPR” or the “Company”) is pleased to announce the appointment of Ms. Bettina Pierre-Gilles to its Board of Directors (the “Board”), effective March 03, 2022 and the creation of its Environmental, Social and Governance (ESG) Board Committee.

With more than 20 years of experience across the conventional and renewable energy sector, significant knowledge of capital markets and M&A activity, Prairie Provident believes Ms. Pierre-Gilles will bring valuable insights and meaningful contributions to the Board. Along with her ICD.D designation from the Institute of Corporate Directors program, … Continue Reading

CALGARY, Alberta, Feb. 22, 2022 (GLOBE NEWSWIRE) — Prairie Provident Resources Inc. (“Prairie Provident”, “PPR” or the “Company”) is pleased to announce its 2022 capital budget, corporate guidance and a Michichi operational update.

MESSAGE TO SHAREHOLDERS

Tony Berthelet, President & Chief Executive Officer, commented: “The 2022 development plan builds on 2021’s successful drilling programs and waterflood results in our core assets. This budget continues to support our overall strategy of increasing shareholder value through a combination of short cycle drilling opportunities and long-term sustainable cash flow generation and low-cost reserve development through waterflood investment. 2022 will see the Company continue … Continue Reading

CALGARY, Alberta, Jan. 19, 2022 (GLOBE NEWSWIRE) — Prairie Provident Resources Inc. (“Prairie Provident”, “PPR” or the “Company”) is pleased to announce the results of our independent 2021 year-end reserves evaluation conducted by Sproule Associates Limited (“Sproule”) with an effective date of December 31, 2021 (the “Sproule Report”).  

MESSAGE TO SHAREHOLDERS

Tony Berthelet, President & Chief Executive Officer commented: “The 2021 year-end updated reserves evaluation confirms the underlying value of PPR’s assets. With a 13-year reserve life index on a 1P basis, the assets have the potential to deliver meaningful long-term shareholder value. Recognition of Improved Recovery in the Evi … Continue Reading

CALGARY, Alberta, Dec. 29, 2021 (GLOBE NEWSWIRE) — Prairie Provident Resources Inc. (“Prairie Provident” or the “Company”) is pleased to announce the renewal of its senior secured revolving note facility (the “Revolving Facility”). The renewal extends the maturity date and revolving period by a full year from December 31, 2022 to December 31, 2023, and includes complementary amendments to the terms of both the Revolving Facility as well as the Company’s outstanding senior subordinated notes (“Subordinated Notes”).

The amendments provide Prairie Provident with the financial stability to support the execution of its 2022 and 2023 capital programs, underpinning the Company’s … Continue Reading

CALGARY, Alberta, Dec. 14, 2021 (GLOBE NEWSWIRE) — Prairie Provident Resources Inc. (“Prairie Provident”, “PPR” or the “Company”) is pleased to provide an operational update outlining the successful second half 2021 drilling program in its core Princess area.  Two Lithic Glauconite horizontal wells and one Ellerslie horizontal well were brought online in the second half of 2021. Current corporate average daily production based on field estimates is approximately 5,175 boe/d1 (69% liquids).

Princess Area Update

The 2021 second half 3-well program began with the 103/11-13-018-11W4 drilled in the Ellerslie formation with 75% of the lateral in fair to good reservoir … Continue Reading