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Prospera Energy Announces Acquisition of White Tundra Petroleum, Operations Update, and Convertible Debt Repayment Terms
Prospera Energy announced the acquisition of White Tundra Petroleum to expand its asset portfolio and production, assuming operational oversight and implementing a workover program. A performance-based bonus of shares will be issued if production targets are met. Additionally, Prospera reached an agreement to refinance its $1.5 million convertible debt and settle outstanding interest through a combination of promissory notes and convertible notes. Prospera's production exited February at 878 boe/d (94% oil).
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