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MARKETS LIVE BLOG:

STOCKS CLIMB AS RATE-HIKE FEARS FADE, WITH APPLE ON DECK

Bitcoin rebounds to US$59,000 following record ETFs outflow

Stocks in play: Prospera Energy Inc.

Baystreet.ca
·1 min read

Drilled, completed and tied-in nine horizontal wells in heavy oil reservoir with initial production rates exceeding expectations at 100+bpd per well. The ninth well was rig released on December 24 and was brought online on December 28. In addition, PEI drilled a directional well accessing medium-light oil flowing at 500+ Bpd. Gross peak rates of 1,800 boepd were attained prior to year-end, excluding the production of the recently drilled and completed horizontals, and the shut-in production for drilling. This production was brought on throughout the month resulting in a monthly average of approximately 1,300 gross boepd. Currently, the total production capability of Prospera is 2,200 boepd that will be optimized in the next few weeks barring any extreme winter weather conditions. Prospera Energy Inc. shares V.PEI are trading unchanged at $0.09.

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