KELOWNA, BC / ACCESSWIRE / October 8, 2019 / Prospera Energy Inc. ('Prospera') (TSXV:PEI) is pleased to announce the appointment of the following officers:

Robert 'Rob' R. Richardson, P. Eng., MEB - Chief Executive Officer. Mr. Richardson brings over 25 years of experience in the oil and gas business to Prospera. He was instrumental as a consultant to Prospera in identifying and analyzing the Cuthbert, Luseland and Hearts Hill assets acquired by the Corporation in early 2018.

Mr. Richardson has an extensive engineering and management background in all aspects of upstream oil and gas operation in both domestic and international settings. He has a significant proven history of growing production, reserves and cashflow through multiple techniques including the development and implementation of multiple EOR projects. He has prior experience with a number of companies including Canadian Natural Resources Ltd., Petrobank Energy Reserves Limited, Palliser Oil and Gas Corp., and most recently with Maha Energy Inc.

Mr. Richardson is a graduate of University of Alberta (BSc Eng.), received a Masters of Energy Business from University of Tulsa in 2014 and is presently enrolled at the University of Calgary in the Doctor of Business Administration program

Sarshar Ahmad, MSc. Petroleum Geology/Structure - President and Chief Operating Officer. Mr. Ahmad has served as a consultant to the Corporation and then interim President following the passing of Mr. Burkhard Franz.

Mr. Ahmad has over 20 years of experience in the upstream oil and gas industry, including experience in acquisitions, exploration and development in both domestic and internationals settings. He has worked for Canadian Natural Resources Ltd for over seventeen years and has a significant history of improved production enhancements including EOR implementation

Mr. Ahmad received both of his MSc's in Geology from University of Oslo, Norway and University of Pakistan.

Sarshar and Rob have worked together previously in both domestic and international projects including the Pelican Lake polymer flood development in Alberta.

Options

In connection with their appointments, each of Messrs. Richardson and Ahmad have been granted 500,000 options each to purchase common shares of the Corporation at a price of $0.05 per common share, vesting as to 1/3 immediately and 1/3 on each of their first and second anniversaries of the grant, and expiring 5 years following the grant.

Daryl S. Fridhandler, Chairman of the Corporation, has been granted 500,000 options to purchase common shares of the Corporation at a price of $0.05 per common share, vesting as to 1/3 immediately and 1/3 on each of their first and second anniversaries of the grant, and expiring 5 years following the grant.

About Prospera

Prospera is a Canadian natural resource company engaged in the acquisition, exploration, development and exploitation of oil and gas properties in Western Canada.

For further information:

Rob Richardson
Chief Executive Officer
Email: [email protected]
Tel: (403) 990-3162
Website: www.prosperaenergy.com

Neither the 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.

SOURCE: Prospera Energy Inc.