1 00:00:00,320 --> 00:00:06,080 Prosperous, increasing production, reducing costs. We're actually cutting the Phase two Alfair 2 00:00:06,120 --> 00:00:10,320 development plan. It's on track. The weather conditions just something we cannot control, 3 00:00:10,679 --> 00:00:16,120 but we are getting a little more having a better understanding. I think 4 00:00:16,120 --> 00:00:25,359 it a budget that reduction into a production forecast. The Financial Survival Network now 5 00:00:25,440 --> 00:00:33,560 more than ever, the Financial Survival Network. And welcome. This is Financial 6 00:00:33,600 --> 00:00:37,439 Survival Network. I'm your host, Carrie Letts, and we are getting an 7 00:00:37,520 --> 00:00:42,759 update to date, a long awaited one that I've anxiously been seeking on Prosperit 8 00:00:42,960 --> 00:00:49,600 Energy. When we last connected with CEO Samuel David and White Tundras, shebam 9 00:00:49,640 --> 00:00:56,320 guard it was the dead of winter, and I know that in the in 10 00:00:56,359 --> 00:01:00,600 Canada, in Alberta and Saskatchewan, winter has a whole different meaning that it 11 00:01:00,640 --> 00:01:04,079 does in Laurida, for sure. And Sam, I know you've had a 12 00:01:04,159 --> 00:01:08,560 couple of exciting plane rides, but you're here to talk about it. Chapin, 13 00:01:08,640 --> 00:01:12,599 We're great to have you back as well. Sep. I guess we 14 00:01:12,599 --> 00:01:18,599 should get to the meat of it as production going in Prospero now. Sure, 15 00:01:19,480 --> 00:01:25,480 good to see you all back in Canada. You're right, the winters 16 00:01:25,599 --> 00:01:30,719 in Saskatchewan especially in the berries. You know, it could be rather chilled 17 00:01:30,079 --> 00:01:34,959 and rather cold, and it can get into minus fifty degrees where even oil 18 00:01:36,200 --> 00:01:41,799 starts freezing in the pipeline going through that experienced last winter, I had to 19 00:01:41,840 --> 00:01:49,000 amplified to exposed the infrastructure that needed attention and also other resources, the personnel 20 00:01:49,120 --> 00:01:56,760 as well to attend to the exciting capital projects that we have lined up for 21 00:01:56,840 --> 00:02:01,000 the warmer months. So prosper I took a step back and ten ensure the 22 00:02:01,079 --> 00:02:07,319 infrastructure and the resources, the personnel, resources and the monitoring system are in 23 00:02:07,400 --> 00:02:15,319 place to accommodate the appreciation of production and the capital project development projects that we 24 00:02:15,400 --> 00:02:20,000 have lined up for the summer months. And we have done just that. 25 00:02:20,199 --> 00:02:25,280 There's a lot of gas handling issues, compressors, sweetener to ensure that gas 26 00:02:25,360 --> 00:02:31,039 is not sour and spoiling the engine and we're not doing emitting sour gas. 27 00:02:31,759 --> 00:02:37,360 These kind of things needed update. We needed to ensure the pipelines can handle 28 00:02:37,400 --> 00:02:40,159 the pressure. We need to ensure the injectors are by in place as we 29 00:02:40,240 --> 00:02:46,840 wrapped up the production to accommodate the injection rates and the volumes that we see 30 00:02:47,000 --> 00:02:53,639 from the appreciation of production and increasing the volume and we've been working on that. 31 00:02:53,639 --> 00:02:57,800 That has been a focus. So as we have i mean to the 32 00:02:57,840 --> 00:03:00,360 conclusion of that, and we're still working on it. The production has been 33 00:03:00,400 --> 00:03:04,759 slowly ramping up as as you know them. Back in the winter we actually 34 00:03:04,759 --> 00:03:09,680 shut down the battery so that you know, pipelines do not break and spill 35 00:03:09,800 --> 00:03:15,599 and cost spill. Now we're getting closer to back to that volume up close 36 00:03:15,639 --> 00:03:19,560 two thousand barrels a day in the weeks that we're speaking and you know gas 37 00:03:19,599 --> 00:03:24,159 associated with it, probably another one hundred and fifty bows and two buis. 38 00:03:24,319 --> 00:03:30,000 But into the summer it's got into the month will be a little past than 39 00:03:30,039 --> 00:03:36,759 what we attained before. We're hoping to obtain closer to twelve fifty barrels a 40 00:03:36,840 --> 00:03:39,120 day, closer to fifteen hundred buwees at eight and we're end of the month. 41 00:03:40,199 --> 00:03:45,800 As we're doing is we're also getting prepping all our capital development projects, 42 00:03:45,919 --> 00:03:51,879 which is the Brooks Field. You know, we're medium light oil tested favorably 43 00:03:52,159 --> 00:03:54,719 at hundred barrels and three hundred barrels a day, and we've been we have 44 00:03:54,840 --> 00:04:00,960 delineated the pools geologically and seismically because we have three d s eyes make and 45 00:04:00,000 --> 00:04:06,039 we're very excited to drill eight additional wells from one pad, uh you know 46 00:04:06,360 --> 00:04:09,719 the pad that we're going to eye in the well that we just tested. 47 00:04:09,879 --> 00:04:13,439 We're going to drill another three more wells. So the surface there was only 48 00:04:13,439 --> 00:04:17,879 one single surface and centralized battery that is underworks right now pilot licensing and you 49 00:04:17,920 --> 00:04:23,399 know, surveying and least prep and everything, and we're hoping to start commends 50 00:04:23,439 --> 00:04:27,759 that drilling about eight weelve program in June in amount of the first few weeks 51 00:04:27,800 --> 00:04:31,360 of June. Similarly, the horizontal development that we padded it last year, 52 00:04:32,879 --> 00:04:38,279 the one well has tested is continues to produce. We haven't fully drawn on 53 00:04:38,319 --> 00:04:40,720 it. And when you look at the production, I mean it's doing sixty 54 00:04:40,720 --> 00:04:44,399 barrels or any barrels a day. There's a lot of food levels in the 55 00:04:44,399 --> 00:04:46,199 World War. But we're not going to just ramp up and pull in the 56 00:04:46,240 --> 00:04:53,319 water. But it shows the indication the capability of that well and the other 57 00:04:53,360 --> 00:04:56,560 well, second well that we piloted, we did had to plug back because 58 00:04:56,600 --> 00:05:00,199 of the gas we encountered. The gas was persist stan couldn't you kill it 59 00:05:00,959 --> 00:05:04,000 in one way? It was not a good thing because we didn't have the 60 00:05:04,000 --> 00:05:08,680 control of the wall. In another sense, we got reserves. We got 61 00:05:08,680 --> 00:05:13,519 gas reserves from that zone. So those two pilots, you gotta remember, 62 00:05:13,600 --> 00:05:17,720 pilots are men to understand the reservoir, so it could set up the development 63 00:05:17,879 --> 00:05:21,319 program. So we don't want to go into development program not knowing what we're 64 00:05:21,319 --> 00:05:28,279 going to encounter. So we have those pilots and tweaked us technically that being 65 00:05:28,360 --> 00:05:30,560 a built section, we have to have a control of the well. And 66 00:05:30,639 --> 00:05:32,639 he had to do that using a re entry. You need a commercial horizontal 67 00:05:33,160 --> 00:05:38,519 and as it is in the later role, it's depleted reservoir, so there's 68 00:05:38,560 --> 00:05:41,639 going to be lost of circulation. You want to be in full control of 69 00:05:41,639 --> 00:05:45,120 the well and dissipating that I could be lost a circulation. It cannot be 70 00:05:45,120 --> 00:05:49,000 playing around with the building section. These pilots pilot wells helped us to understand 71 00:05:49,120 --> 00:05:55,319 and stage this ten well program that it's commencing also in January. Are in 72 00:05:55,399 --> 00:06:00,600 June and the first speak up, so we have a good healthy capital program. 73 00:06:00,600 --> 00:06:05,240 Medium light oil corisanto ones combine. These two ip could be anywhere in 74 00:06:05,240 --> 00:06:10,040 the fifteen hundred barrels range. But you know we a conservative, we say 75 00:06:10,199 --> 00:06:13,800 we should be able to add a thousand barrels if you execute all of this 76 00:06:13,959 --> 00:06:16,279 over the summer months. Where are we going to incur less costs because we're 77 00:06:16,279 --> 00:06:20,240 not drilling in the winter ones and we can also bring these wells online. 78 00:06:20,560 --> 00:06:25,399 So that's into this month, we expect to be twelve hundred and fifteen barrels 79 00:06:25,399 --> 00:06:28,759 a day. You know, with gas, we could be fifteen hundred boes 80 00:06:29,319 --> 00:06:32,720 in over June, July, August, we should be a September gradding that 81 00:06:33,120 --> 00:06:38,360 executing that capital program, who should be adding thousand plus barrels a day, 82 00:06:38,439 --> 00:06:42,480 So that's a gas It's possible then that you could see before the end of 83 00:06:42,480 --> 00:06:46,079 the year doubling of production. Though I always hate to commit these, you 84 00:06:46,079 --> 00:06:49,279 know, these winters. That seems to kick my ass. So I you 85 00:06:49,319 --> 00:06:55,360 know, one of the directors, you know, Brand mccadoll, who who 86 00:06:55,360 --> 00:07:00,439 knows the scotchewn really well, go Sam always you know, be conservative. 87 00:07:00,959 --> 00:07:06,959 Uh and and decreased by twenty percent in the winter accommodated for the winter reduction. 88 00:07:08,240 --> 00:07:12,759 So yes, where we you know, to answer your question, yes, 89 00:07:12,920 --> 00:07:15,800 I cannot tell you exactly where you're going to be, but there's specially 90 00:07:15,839 --> 00:07:19,800 addition, this this year is a transition year where we were struggling to just 91 00:07:19,879 --> 00:07:26,160 break even. Now we're going to be well passed breaking and be profitable and 92 00:07:26,319 --> 00:07:30,680 also eliminate all the legacy arrears by end of this year. So profitability, 93 00:07:31,639 --> 00:07:39,759 and you know, we continues to reduce our our r O LMR program and 94 00:07:40,279 --> 00:07:44,639 I reduced the surface the you know, the footprint on the on the surface. 95 00:07:45,360 --> 00:07:47,959 Uh. And these these costs going to start reflecting, you know, 96 00:07:47,959 --> 00:07:51,199 a little bit this year, but more so towards the next year. So 97 00:07:53,560 --> 00:07:59,279 prosperous, increasing production, reducing costs. We're executing the Phase two offer a 98 00:07:59,319 --> 00:08:03,560 development plan. It's on track. The weather conditions just something we cannot control, 99 00:08:03,879 --> 00:08:09,079 but we are getting a little bit more having a better understanding. I 100 00:08:09,199 --> 00:08:13,839 mean, you budget that reduction into a production forecast. Okay, great, 101 00:08:13,879 --> 00:08:20,439 So Chavam from your perspective as a strategic investor, Sam's pretty much executing the 102 00:08:20,480 --> 00:08:24,319 plan, right Yeah, yeah, Bet, I think this is what we 103 00:08:24,079 --> 00:08:28,240 were looking for is this is a company was coming out of this this legacy 104 00:08:28,319 --> 00:08:31,120 arrears. They had a lot of wells to abandon. There was a lot 105 00:08:31,120 --> 00:08:37,799 of suspended wells infrastructure that had not been maintained by the previous management team. 106 00:08:37,879 --> 00:08:41,080 Things were just left kind of to decay. You can look about it if 107 00:08:41,080 --> 00:08:45,399 you just look at the Prospira corporate presentation, would the previous production how it 108 00:08:45,519 --> 00:08:48,960 was dropping coming into twenty nineteen and twenty twenty. So I think Simon the 109 00:08:48,960 --> 00:08:54,080 team have done an exceptional job getting through that. As he mentioned, twenty 110 00:08:54,120 --> 00:08:58,799 twenty two was more of a pilot year. We drove the two side tracks 111 00:08:58,919 --> 00:09:03,480 in which basically we went into an existing world war and went horizontally, which 112 00:09:03,600 --> 00:09:05,559 carries a little bit more a little bit more risk. It is cheaper, 113 00:09:05,639 --> 00:09:09,600 but you do carry more risk that the world war is unstable, you could 114 00:09:09,639 --> 00:09:13,799 get lost circulation, you could get gas kicks come out of that. You 115 00:09:13,840 --> 00:09:18,519 don't already have as much control. So we had those two pilots last year. 116 00:09:18,600 --> 00:09:22,440 And then of course the Brooks property was also acquired last year, and 117 00:09:22,559 --> 00:09:26,399 now the company has the money through our private placement, through the calf flow 118 00:09:26,000 --> 00:09:31,519 they've been generating, and then through the recently completed well partially completed debt finance 119 00:09:31,519 --> 00:09:35,600 and arrangement. The company now has the money to go and really execute on 120 00:09:35,639 --> 00:09:39,519 the plan. As time goes on in and I think I've always said this, 121 00:09:39,159 --> 00:09:43,879 whether it's with Prospera, whether it's but my other investments, is there 122 00:09:43,919 --> 00:09:48,720 has been a step change in technology in some of these heavier oil fields and 123 00:09:48,720 --> 00:09:52,399 even some of the media light oil fields over the last decade. But the 124 00:09:52,440 --> 00:09:56,759 problem is companies never really have the money to do anything from twenty two d 125 00:09:56,879 --> 00:10:01,960 onwards. Some of these assets got stock in some of these junior companies, 126 00:10:01,360 --> 00:10:05,200 or they were not taken care of in some of the bigger companies. And 127 00:10:05,279 --> 00:10:09,600 now that we're here ten years later, we have better, better geosting technologies, 128 00:10:09,639 --> 00:10:13,360 we have better well control, we have better curse, we have just 129 00:10:13,519 --> 00:10:18,279 longer laterals we can drill. And I'm looking forward to the summer drilling program 130 00:10:18,320 --> 00:10:20,879 here. And I think one of the points that Sam hit on that's that's 131 00:10:20,919 --> 00:10:26,360 really key is when you look at well results of heavier oil wells such as 132 00:10:26,399 --> 00:10:31,879 the cutbolt of Cuthbird and loose Land and heart sill horizontals. We don't produce 133 00:10:31,919 --> 00:10:37,000 these wells like it's like a motney well or shale well where we jack up 134 00:10:37,000 --> 00:10:39,639 production and then we let it drop. These wells are aren't more for a 135 00:10:39,759 --> 00:10:46,000 reservoir science. There's more reservoir management and reservo engineering, which means you let 136 00:10:46,000 --> 00:10:50,399 your fluid levels stay high, you slowly speed up the pump to bring those 137 00:10:50,399 --> 00:10:52,320 down. You don't want to get sand in flux, you don't want to 138 00:10:52,320 --> 00:10:56,840 get the water taping in. You really want to produce them in a very 139 00:10:56,879 --> 00:11:00,519 stable manner. And that's what makes these well so fantastic. In my opinion 140 00:11:00,960 --> 00:11:03,679 as a strategic investor, is I don't get that decline rate. If my 141 00:11:03,759 --> 00:11:07,320 will is making thickty barrels today, it may make forty eight barrels filve months 142 00:11:07,360 --> 00:11:11,879 from now, it may make forty five barrels three years from now, because 143 00:11:11,919 --> 00:11:16,279 all we're doing is drawing down that fluid level as opposed to losing d reveser 144 00:11:16,320 --> 00:11:22,159 ward pressure, which is out of the the overy problem in unconventional wells. 145 00:11:22,200 --> 00:11:26,759 And really company stopper declines nod stop, whereas this is more of a building 146 00:11:26,759 --> 00:11:30,799 a company step by step by step. And that's really why we invested Urine. 147 00:11:31,000 --> 00:11:35,519 Looking forward to the eighteen World Summer program here up college really going. 148 00:11:35,559 --> 00:11:39,879 And I add to that, Well said, you know, reservoir management is 149 00:11:39,960 --> 00:11:46,720 key in these uh in these heavy oil reservoir because relative permeability, uh, 150 00:11:46,960 --> 00:11:52,000 you know comes into play where you know, lighter food. He's gonna if 151 00:11:52,039 --> 00:11:54,240 you drove, if you spend your our pump faster, you're gonna have higher 152 00:11:54,279 --> 00:11:58,279 draw down and lighter fluids gas and water, it's gonna superseded or heavier. 153 00:11:58,759 --> 00:12:03,840 Well. Now, this our method has been substantiated by Insight, a third 154 00:12:03,879 --> 00:12:09,000 party who will evaluated us. They gave us a two p reserve of one 155 00:12:09,080 --> 00:12:13,720 hundred thousand barrels of recovery by this pilot well you know, by the way, 156 00:12:13,759 --> 00:12:18,200 were also it gave us a couple of million barrels of HUDs and developed 157 00:12:18,519 --> 00:12:22,000 reserves that we you know for the forsulsos that we go into the drill. 158 00:12:22,559 --> 00:12:26,759 So it has been substantiated in our method and it's recognized it can add reserves 159 00:12:26,879 --> 00:12:31,639 and production. Now in addition to that, we've already looking into polotating it 160 00:12:31,120 --> 00:12:37,320 to pressure support this reservoir with the viscous fluid and we're fairly close to that 161 00:12:37,440 --> 00:12:41,679 and that's also going to be piloted this summer. Now, once that has 162 00:12:41,720 --> 00:12:48,360 been substantiated. By the result, these wells can have a PD proven developed 163 00:12:48,440 --> 00:12:52,399 reserves in the order of two hundred thousand or three hund barrels a day barrels 164 00:12:54,480 --> 00:13:01,519 reserves and it'll recognize this additional, this substantial see significant remaining reserves can be 165 00:13:01,559 --> 00:13:05,000 actually recognized as proven reserves, and that will elevate the value of the company 166 00:13:05,080 --> 00:13:09,799 to other level. And as you know, you know, every year we've 167 00:13:09,840 --> 00:13:16,279 been elevating our IMPV value and reserves. We increase our reserves by fifteen three 168 00:13:16,320 --> 00:13:20,080 percent in twenty twenty two. I expect to even actually hire increase in the 169 00:13:20,159 --> 00:13:26,399 upcoming year because of all the reserves on the horizontals and Brooks whiles that were 170 00:13:26,440 --> 00:13:35,440 adding. So Prosperita is in the works of recognizing or proving that significant remaining 171 00:13:35,519 --> 00:13:43,759 reserves. Technical application and results right, and so one thing when you're when 172 00:13:43,799 --> 00:13:48,480 you've got these long life wells, and then your cost of maintaining production also 173 00:13:48,559 --> 00:13:54,120 goes way lower. You don't have to do recompletions and all these other techniques 174 00:13:54,480 --> 00:13:58,759 to keep the well producing. Right, when we sustain that lower draw down, 175 00:14:00,200 --> 00:14:05,559 we supported with pressure support, a proper pressure support. You're maintaining a 176 00:14:05,639 --> 00:14:09,399 piston, you can get your decline now to you know, even five to 177 00:14:09,440 --> 00:14:16,720 ten percent less than ten percent when you're maintaining that it's only maintenance costs that 178 00:14:16,759 --> 00:14:20,480 you're going to occur as we complete our LMR program a three year program. 179 00:14:20,480 --> 00:14:26,080 We're in our second year. Yes, then the fixed operating cost that will 180 00:14:26,120 --> 00:14:31,519 be reduced, and you you have steady stream of volume of barrels every month. 181 00:14:31,120 --> 00:14:35,080 Price. We cannot control our costs and volume with your control and that 182 00:14:35,200 --> 00:14:39,960 is prosperious focus. So SBAM, you know, as much as this is 183 00:14:39,000 --> 00:14:43,720 a production story, because by the end of the year we could be fiftyfold, 184 00:14:43,159 --> 00:14:48,879 production could be up fiftyfold from where Sam took it over, it's also 185 00:14:48,919 --> 00:14:52,080 a cost cutting and a technology story, right, Yeah, certainly. I 186 00:14:52,120 --> 00:14:56,279 think this is one of the things that's maybe missed in some of the growth 187 00:14:56,320 --> 00:15:00,679 companies. People will go into it and they will look at the financials and 188 00:15:00,759 --> 00:15:03,240 say, well, hang on, this company's break even is just way too 189 00:15:03,320 --> 00:15:07,440 high. We can did best of this. But what they're missing is as 190 00:15:07,480 --> 00:15:13,720 the company's production grows, your operating cost per barrel comes down significantly. Some 191 00:15:13,799 --> 00:15:16,360 of these assets that Perspira owns, they used to run ten, fifteen, 192 00:15:16,399 --> 00:15:22,480 twenty thousand barrels of fluids through them. The infrastructure already placed, the pipelines 193 00:15:22,519 --> 00:15:28,000 have already placed, the compressions already placed, and as we increase production, 194 00:15:28,120 --> 00:15:31,759 your your fixed costs the same on operating this equipment, and then your variable 195 00:15:31,799 --> 00:15:35,919 cost per barrel keeps coming down, and therefore we get a double weam effect 196 00:15:37,000 --> 00:15:41,399 where not only is production increasing, but your production cost per barrel then decreases. 197 00:15:41,480 --> 00:15:48,480 So there's definitely a story there on the operating cost per barrel bringing our 198 00:15:48,519 --> 00:15:52,279 net back a lot higher. And the technology. I think the technology. 199 00:15:52,360 --> 00:15:58,960 When you have a field that has total combined four hundred plus million barrels in 200 00:15:58,000 --> 00:16:03,279 place, you have a seventy eight nine percent recovery factor that to me tells 201 00:16:03,279 --> 00:16:06,440 me, okay, I've got three hundred and sixty five million barrels still in 202 00:16:06,519 --> 00:16:10,840 place. And as kind of I mentioned I alluded to earlier, there are 203 00:16:10,879 --> 00:16:15,440 technologies in the last by seving ten years that have come up which made these 204 00:16:15,519 --> 00:16:18,559 types of fields very attractive, whether it is with NEO orzon't drilling, whether 205 00:16:18,600 --> 00:16:22,159 it is with the upgrading up the oil that comes out of the ground, 206 00:16:22,279 --> 00:16:27,080 and even some of be a polymer bloods, which I'm very excited not it's 207 00:16:27,080 --> 00:16:30,440 hardly sure where we are in that process, but I think this fields, 208 00:16:30,679 --> 00:16:37,279 these fields are very conducive through some sort of higher viscosity fluid coming in and 209 00:16:37,480 --> 00:16:41,200 helping a push that oil. We've seen very very successful palmer floods in saskatchework 210 00:16:41,240 --> 00:16:45,799 already in very similar reservoirs, including one that's just to the east of the 211 00:16:47,120 --> 00:16:52,879 Prospira Cuthbert a cupbird Field, And there's very good fax credits and royalty credits 212 00:16:52,919 --> 00:16:57,919 for putting these procedures in place. The governments are pushing or more recovery because 213 00:16:57,960 --> 00:17:02,360 they end up getting more voyes from these recovery. So there are very very 214 00:17:02,399 --> 00:17:07,720 strong government programs in place where companies can increase production and partly paid for by 215 00:17:07,759 --> 00:17:11,519 the government, which then less a reduced the operating cost and increase barrels and 216 00:17:11,599 --> 00:17:15,319 produce a lot more of this owner of the draught. I think the main 217 00:17:15,000 --> 00:17:19,160 point though, is you have to have reservoirs with oil in the ground. 218 00:17:19,359 --> 00:17:23,039 If somebody's telling you you can do this on a reservoir with a couple of 219 00:17:23,039 --> 00:17:27,599 million barrels left in place at a forty percent recovery factor, not exactly true 220 00:17:27,960 --> 00:17:32,480 when you have four hundred million barrels in place with at eight point five or 221 00:17:32,559 --> 00:17:36,079 nine percent recovery factor. Now That gets me excited. And I think that's 222 00:17:36,160 --> 00:17:38,519 that's really the story we're betting on here. And as some of the technologies 223 00:17:38,519 --> 00:17:44,880 are are being implemented and iterated as we speak, the pilot is not what 224 00:17:45,000 --> 00:17:48,960 it could be your best, most effective way of producing the reservoir. That 225 00:17:48,079 --> 00:17:52,519 is just a pilot. It gives you more information, It lets you delineate 226 00:17:52,559 --> 00:17:56,920 the reservoir unlets you get some information on the pressure i'll the reservoirs behaving, 227 00:17:56,359 --> 00:18:00,480 and then you keep iterating that process to get better and better and better. 228 00:18:00,960 --> 00:18:03,640 And this is just year one, sim said, And and we're now offer 229 00:18:03,640 --> 00:18:10,359 the races with the multi well drilling program without increasing our liabilities, without increasing 230 00:18:10,359 --> 00:18:15,240 any surface pod exposure. And I think is really setting the stage up. 231 00:18:15,279 --> 00:18:18,400 I think I said this on a previous podcast Prosperities. Now in the escape 232 00:18:18,480 --> 00:18:23,079 velocity out of Earth and and once again into low orbit, it's a lot 233 00:18:23,079 --> 00:18:27,119 easier to get into high orbit from there. It's just the way of physics 234 00:18:27,119 --> 00:18:33,079 and science works than it applies to reservoirs as well. To carry that analogy, 235 00:18:33,480 --> 00:18:36,599 you know, it's like Elon Musk shooting a rocket up in the air 236 00:18:36,640 --> 00:18:40,559 and not expecting it to go up, but learning from how it went up 237 00:18:40,559 --> 00:18:45,200 and how the flight took place so that future successes will no doubt in Herr 238 00:18:45,720 --> 00:18:53,160 and Sam So acquisitions obviously made a few along the way. And there's it's 239 00:18:53,200 --> 00:18:57,920 kind of a wide opening space there in your areas. What are you without 240 00:18:59,440 --> 00:19:03,039 giving away the show, what do you forest see for the rest of the 241 00:19:03,119 --> 00:19:07,720 year. Before I get into the acquisitions, I get a comment on two 242 00:19:07,759 --> 00:19:12,400 things about and rocket and orbit and all that stuff. I'm just a simple, 243 00:19:12,599 --> 00:19:18,279 you know, a simple silly immigrant to that's just trying to do things, 244 00:19:17,720 --> 00:19:21,599 you know, realistically and economically. You know, I don't know about 245 00:19:21,640 --> 00:19:25,880 all of that. Uh. And the second thing uh, Suban mentioned about 246 00:19:26,119 --> 00:19:32,400 I'm not sure where we're at with the polymer flood and and you are recovery. 247 00:19:32,960 --> 00:19:37,720 I'll just give you a quick update on that polymer flood. We have 248 00:19:37,880 --> 00:19:41,759 noticed analogy. We have been looking at all the nearby adjacent producers flying polymer 249 00:19:41,759 --> 00:19:45,039 and they're getting some good results. We've been looking at all the technical parameters, 250 00:19:45,319 --> 00:19:49,799 the viscosity and comparable and what we can do and what we have in 251 00:19:49,880 --> 00:19:55,000 our on our end. And there's been a couple of technical engineers I've been 252 00:19:55,039 --> 00:20:00,160 working on it, and we also noticed polymer flood could be very capital intensive 253 00:20:00,279 --> 00:20:04,839 if you go on a megascale at a battery level, blenders and things like 254 00:20:04,880 --> 00:20:10,559 that, So we were planning to divide that into smaller pieces and do it 255 00:20:10,640 --> 00:20:15,680 individual wells, and maybe perhaps look a look at liquid polymer as well, 256 00:20:15,440 --> 00:20:18,640 so that it's not in a megascale and you mounted investing in millions and millions 257 00:20:18,680 --> 00:20:23,559 of dollars at the battery and then you're putting all types of pipelines distributed at 258 00:20:23,559 --> 00:20:29,720 maintaining it. We thought we could do a single well injector with a flood 259 00:20:29,759 --> 00:20:32,359 pattern and we kind of fitted in the entire field. That seems to be 260 00:20:32,440 --> 00:20:36,119 very cost effactor. We've been looking at that so that throw infrastructure. We're 261 00:20:36,160 --> 00:20:38,240 doing that and actually, you know, a place like loose Land, if 262 00:20:38,480 --> 00:20:41,400 that starts working, we don't need to drill horizontals. We can just use 263 00:20:41,400 --> 00:20:45,160 the existing vertical and this we've been properly. You know, that reduces a 264 00:20:45,160 --> 00:20:48,799 lot of capital. Also, there's another technology which is very interesting, is 265 00:20:48,880 --> 00:20:52,599 nano technology, and we've been looking at it too, so I think there 266 00:20:52,640 --> 00:20:57,000 might be a possibility there and we're progressing on both. We might pile it 267 00:20:57,039 --> 00:21:00,880 both in a loose light field. Some of it maybe in a better API 268 00:21:02,200 --> 00:21:04,759 and might work, you know, some of them maybe works better and higher 269 00:21:04,920 --> 00:21:08,279 lower API. But both of them's going to be pilot over in this summer 270 00:21:08,480 --> 00:21:12,680 and we're fairly close. We're on the sixty seventy percent range here. But 271 00:21:14,079 --> 00:21:17,119 you know, Prospera does a lot of pre planning, a lot of development. 272 00:21:17,279 --> 00:21:19,799 We look at all the technical parameters, will do some lab testing and 273 00:21:19,839 --> 00:21:25,640 see how it's going to work. We ensure that the injector as a connectivity 274 00:21:25,680 --> 00:21:29,480 to the peripheral wealth by do an injectivity die test and things like that, 275 00:21:29,720 --> 00:21:36,759 looking at it geologically and seismically. So we reservo our management for longibility is 276 00:21:36,880 --> 00:21:42,599 how Prosperity takes its approach, and surely it is not really capital intensive around 277 00:21:42,640 --> 00:21:49,079 spending a lot of money getting permits and construction and deserving the environment using what 278 00:21:49,160 --> 00:21:52,559 we have. We didn't want to Seeing the kind of the environmental footprint is 279 00:21:52,599 --> 00:21:57,400 one of the objective with the ESG initiatives. So along that same path, 280 00:21:57,519 --> 00:22:03,519 you mentioned that acquisition oswere has some criteria and corporate criteria. How we look 281 00:22:03,559 --> 00:22:07,759 at our acquisition, we like to expand in the core area of similar so 282 00:22:07,799 --> 00:22:14,000 we can utilize local community services that we have already established. We're not going 283 00:22:14,000 --> 00:22:17,960 to go too far from various part of the provinces. That's going to incur 284 00:22:18,200 --> 00:22:23,119 a lot of additional channeling costs and setting up course area. Brooks is nearby 285 00:22:23,160 --> 00:22:27,240 Calgary and it's actually on the way to Saskatchewan where our assets are, so 286 00:22:27,279 --> 00:22:30,480 it's convenient for our staff to go to the field, you know, to 287 00:22:30,599 --> 00:22:33,240 go to either field. We might not look at that, but it's very 288 00:22:33,880 --> 00:22:37,599 convenient for us to go and monitor and interact and operators to come here. 289 00:22:37,839 --> 00:22:44,160 It creates good collaborative work environment. We are looking at expanding the current area 290 00:22:44,400 --> 00:22:48,359 LR has gone up. We can accommodate liability without paying money, and that's 291 00:22:48,400 --> 00:22:53,160 the first acquisition and on look at. But it does require development that can 292 00:22:53,240 --> 00:22:59,839 expand our oil in place to another level and continue to increase production because it's 293 00:22:59,880 --> 00:23:03,880 more are the same optimization potential. Maybe if I mutter to six soundred thousand 294 00:23:03,880 --> 00:23:07,839 brows a day and then get into the same retire a lot of these verticals 295 00:23:07,880 --> 00:23:11,640 and new horizontals, and that is in play and I'm hoping to complete that 296 00:23:11,759 --> 00:23:15,799 by quarter of two room my end of quarter two, well, you've got 297 00:23:15,839 --> 00:23:22,519 a lot of things going on and more importantly moving ahead. Production is going 298 00:23:22,640 --> 00:23:26,920 up. Acquisitions would kind of just be a cherry on top of the Sunday 299 00:23:26,480 --> 00:23:33,000 and basically just add to what obviously is very right picture ahead. Well, 300 00:23:33,000 --> 00:23:38,680 I appreciate your both coming on and discussing Prespera. If you want to find 301 00:23:38,680 --> 00:23:45,119 out more information, just go over to Prespera energy dot com and make sure 302 00:23:45,160 --> 00:23:49,680 you sign up for notifications so you can get the latest information as Sam executes 303 00:23:49,880 --> 00:23:56,559 the plan. The ticker symbols g xr FF that's in the US, in 304 00:23:56,839 --> 00:24:00,240 Canada, Pei, Sam Jabam, thank you so much for coming on. 305 00:24:00,519 --> 00:24:04,160 We will definitely be talking to you later on in the summer to get the 306 00:24:04,200 --> 00:24:18,960 latest updates and wish you both well. I do cheers The Financial Survival Network