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CS - Waterflood leads to reserves upgrade for Prairie Provident - October 2019

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Prairie Provident Resources Inc. had its reserves upgraded by an independent evaluation conducted by Sproule Associates Ltd. The reserves were upgraded in three future undeveloped waterflood expansion areas on its Evi acreage in north central Alberta. Sproule assigned 1.6 MMboe of proved undeveloped reserves and 0.5 MMboe of probable reserves (97% oil and liquids) to future waterflood expansions. The evaluation amounts to a 40% increase in proved reserves for the relevant areas, and total......
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