Prospera Energy acquires White Tundra Petroleum
Prospera Energy has entered into an agreement to acquire 100% of the issued and outstanding common shares of White Tundra Petroleum (WTP). WTP’s assets produce 30° API medium oil and are located near Loyalist and Hanna, Alberta. The acquisition strengthens PEI’s base production and provides numerous high-impact reactivation opportunities. This transaction is subject to TSXV acceptance.
Prospera will assume operational oversight of WTP on 6 March 2025, and immediately deploy a $200,000 workover and reactivation program to optimize production beyond 128 boe/d. The bonus share consideration will be issued following the final statement of adjustments and verification of sustained production levels.
Shubham Garg serves as Prospera’s Chairman of the Board, the CEO of WTP, and is a shareholder of WTP. The corporation has strengthened its corporate governance policies, including full public disclosure of monthly operational updates.
Operations update: PEI production continues to increase, exiting February at 878 boe/d (94% oil), which is up 10% from the previously reported February PEI peak production.
On 3 March, Luseland production reached 130 boe/d (100% oil), the highest since December 2023, while Hearts Hill achieved 208 boe/d (86% oil), marking the field’s highest production since November 2019.
These milestones reflect the corporation’s renewed strategic focus on high certainty, low-cost workovers rather than development drilling programs. The corporation’s two active service rigs are continuing to bring wells online across its Luseland and Hearts Hill properties.
