CALGARY, Alberta, March 29, 2023 (GLOBE NEWSWIRE) — Prairie Provident Resources Inc. (“Prairie Provident” or the “Company”) is pleased to announce that it has released an updated investor presentation in connection with its recently announced recapitalization transactions (collectively, the “Recapitalization”). The presentation outlines the Company’s pro-forma financial profile and guidance, investment highlights, capital expenditure and optimization program, growth opportunities in its deep inventory of low-risk, in-fill drilling, and details on its development assets.

The presentation can be accessed on the Company’s website at https://www.ppr.ca/investors/.

Please refer to the press release dated today announcing the Recapitalization for additional details.

ABOUT … Continue Reading

CALGARY, Alberta, Feb. 01, 2023 (GLOBE NEWSWIRE) — Prairie Provident Resources Inc. (“Prairie Provident”, “PPR” or the “Company”) is pleased to announce the results of our independent 2022 year-end reserves evaluation conducted by Sproule Associates Limited (“Sproule”) with an effective date of December 31, 2022 (the “Sproule Report”).  

MESSAGE TO SHAREHOLDERS

The 2022 year-end updated reserves evaluation highlights reserve additions in all categories year over year driven by positive technical revisions associated with reactivations and optimizations, lower fixed costs, and waterflood recovery performance as well as proven undeveloped additions and price. A 14-year Reserve life index on a total proved … Continue Reading

CALGARY, Alberta, Dec. 19, 2022 (GLOBE NEWSWIRE) — Prairie Provident Resources Inc. (“Prairie Provident” or the “Company”) is pleased to announce the appointment of Patrick R. McDonald, who has served as Chairman of the Company since March 2011 and continues in that role, as Interim Chief Executive Officer. Mr. McDonald succeeds R. Anthony Berthelet, who previously served as President and Chief Executive Officer and a director of the Company.

Mr. McDonald has 40 years of experience in North American upstream and midstream operations and has founded, financed and managed public and private E&P companies. Since 2003, he has been Chief … Continue Reading

CALGARY, Alberta, Nov. 22, 2022 (GLOBE NEWSWIRE) — Prairie Provident Resources Inc. (“Prairie Provident” or the “Company”) announces that its wholly-owned subsidiary, Lone Pine Resources Inc. (“LPRI”), did not receive a favourable decision in its arbitration claim under the North American Free Trade Agreement (NAFTA), arising from actions taken by the Government of Quebec in 2011 to cancel, without compensation, certain oil and gas rights that had been held by Prairie Provident Resources Canada Ltd. LPRI considered that the actions in question were a violation of NAFTA, and sought compensation for sunk costs and lost development opportunity.   In a majority … Continue Reading

CALGARY, Alberta, Nov. 09, 2022 (GLOBE NEWSWIRE) — Prairie Provident Resources Inc. (“Prairie Provident”, “PPR” or the “Company”) today announces our financial and operating results for the three and nine months ended September 30, 2022. PPR’s unaudited condensed interim consolidated financial statements for the three and nine months ended September 30, 2022 and related Management’s Discussion and Analysis (“MD&A”) for the same periods are available on our website at www.ppr.ca and filed on SEDAR.

MESSAGE TO SHAREHOLDERS
Tony Berthelet, President & Chief Executive Officer commented: “The team continued to execute on our reactivation and optimization plan in the 3rd Quarter. … Continue Reading

CALGARY, Alberta, Aug. 08, 2022 (GLOBE NEWSWIRE) — Prairie Provident Resources Inc. (“Prairie Provident”, “PPR” or the “Company”) today announces our financial and operating results for the three and six months ended June 30, 2022. PPR’s unaudited condensed interim consolidated financial statements for the three and six months ended June 30, 2022 and related Management’s Discussion and Analysis (“MD&A”) for the same periods are available on our website at www.ppr.ca and filed on SEDAR.

MESSAGE TO SHAREHOLDERS

Tony Berthelet, President & Chief Executive Officer commented: “Q2 saw the continued growth in operating netback1 again highlighting the cash generating potential of … Continue Reading

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