Prospera Energy Highlights Industry Recognition and Consolidation of Core Saskatchewan Properties

Prospera Energy Inc. (TSXV: PEI) (OTC Pink: GXRFF) ("Prospera", "PEI", the "Company", or the "Corporation")
Calgary, Alberta--(Newsfile Corp. - February 27, 2026) -

Prospera Energy is pleased to announce that the Company has been invited to present at an industry leadership presentation and a technical industry conference, reflecting growing industry recognition of Prospera's disciplined heavy oil reactivation strategy and operational execution across legacy assets in the Western Canadian Sedimentary Basin.

On March 4^th, 2026, Prospera will present at the Society of Petroleum Engineers (SPE) Lunch & Learn session in Calgary, titled "Leadership and Capital Perspectives on Value Creation in Legacy Heavy Oil Assets." The presentation will address the capital-constrained landscape facing junior Canadian E&P companies and outline Prospera's structured framework for unlocking value within mature CHOPS and waterflood reservoirs. The Company will discuss the technical and commercial challenges associated with operating legacy heavy oil assets, strategies for reviving suspended production with strong capital efficiency, and the importance of disciplined governance, aligned leadership, and well-by-well optimization in executing a repeatable production growth model.

Prospera has also been invited to present at the Artificial Lift Conference on April 28^th, 2026, where the Company will deliver a technical session titled "PCP Design and Recycle Pump Effectiveness on Legacy Heavy Oil CHOPS." This presentation will focus on optimized PCP rotor sizing and elastomer selection to enable controlled sand production, the role of incremental sand influx in supporting wormhole development and sustained oil flow, and the application of recycle pumps and casing oil injection to maintain clean, productive wellbores. The session will further highlight field-level results demonstrating improved recovery and measurable production growth across mature heavy oil pools.

These invitations underscore Prospera's continued commitment to operational excellence, disciplined capital allocation, and technical innovation in revitalizing undervalued heavy oil assets. The Company remains focused on executing its structured reactivation and optimization strategy to drive sustainable production growth and long-term shareholder value.

Prospera will also host its March 2026 Corporate Update Conference Call on March 12^th, 2026 at 10:00am MST. Investors can register to attend via Zoom here. During the call, management will provide updates on operational progress, production optimization initiatives, and near-term strategic priorities. Investors may view the Company's February 2026 corporate update on YouTube here.

Acquisition Update

Prospera Energy is pleased to announce an update to its previously announced acquisition from the press release dated September 30^th, 2025, of the additional 14% working interest in the Cuthbert property from an arm's length joint venture partner. The total purchase price for this transaction was $1,226,744, now consisting of $199,634 in equity through the issuance of 5,703,814 PEI common shares at a price of $0.035 per share, subject to a twelve-month hold period, 5,334,550 warrants allowing the holder to acquire one PEI common share at a price of $0.05 for three years from issuance, and forgiveness of all outstanding debts totaling $1,027,111 owed by the joint venture partner. This transaction has now closed, and as a result of the transaction, Prospera now holds a 100% working interest across all its core Saskatchewan heavy oil properties. This acquisition has been accepted by the TSXV.

Shares for Debt Update

Prospera announces an update to its previously announced shares-for-debt settlement with two arm's length vendors, originally disclosed on September 30, 2025. The first vendor has agreed to settle a total of $50,000 through the issuance of 1,428,571 common shares at a deemed price of $0.035 per share. The second vendor has agreed to settle $100,000 through the issuance of 2,500,000 common shares at a deemed price of $0.040 per share. The shares will be subject to a statutory hold period of four months and one day from the date of issuance. The transactions have been accepted by the TSX Venture Exchange.

About Prospera

Prospera Energy Inc. is a publicly traded Canadian energy company specializing in the exploration, development, and production of crude oil and natural gas. Headquartered in Calgary, Alberta, Prospera is dedicated to optimizing recovery from legacy fields using environmentally safe and efficient reservoir development methods and production practices. The company's core properties are strategically located in Saskatchewan and Alberta, including Cuthbert, Luseland, Hearts Hill, and Brooks. Prospera Energy Inc. is listed on the TSX Venture Exchange under the symbol PEI and the U.S. OTC Market under GXRFF.

Prospera reports gross production at the first point of sale, excluding gas used in operations and volumes from partners in arrears, even if cash proceeds are received. Gross production represents Prospera's working interest before royalties, while net production reflects its working interest after royalty deductions. These definitions align with ASC 51-324 to ensure consistency and transparency in reporting.

For Further Information:

Shawn Mehler, IR
Email: investors@prosperaenergy.com

Chris Ludtke, CFO
Email: cludtke@prosperaenergy.com

Shubham Garg, Chairman of the Board
Email: sgarg@prosperaenergy.com

FORWARD-LOOKING STATEMENTS

This news release contains forward-looking statements relating to the future operations of the Corporation and other statements that are not historical facts. Forward-looking statements are often identified by terms such as "will," "may," "should," "anticipate," "expects" and similar expressions. All statements other than statements of historical fact included in this release, including, without limitation, statements regarding future plans and objectives of the Corporation, are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements.

Although Prospera believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because Prospera can give no assurance that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks. These include, but are not limited to, risks associated with the oil and gas industry in general (e.g., operational risks in development, exploration and production; delays or changes in plans with respect to exploration or development projects or capital expenditures; the uncertainty of reserve estimates; the uncertainty of estimates and projections relating to production, costs and expenses, and health, safety and environmental risks), commodity price and exchange rate fluctuations and uncertainties resulting from potential delays or changes in plans with respect to exploration or development projects or capital expenditures.

The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of Prospera. As a result, Prospera cannot guarantee that any forward-looking statement will materialize, and the reader is cautioned not to place undue reliance on any forward- looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release, and Prospera does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by Canadian securities law.

Neither TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/285713