Meeting Phase 2 KPIs, Prospera Energy Inc. (TSX.V: PEI) (OTC: GXRFF) (FRA: OF6B) Emerging as a Model for Sustainable Growth in the Oil & Gas Industry

 

• Prospera in 2021 launched a new strategy to improve margins and oil and gas production while minimizing environmental impact
• Horizontal well-technology allows for increase in production and Prospera has now abandoned 60 vertical wells as part of its three-year LMRP to reclaim surface land and reduce environmental footprint that will see 200+ vertical wells abandoned
• Prospera this month completed the drilling of four horizontal wells of a ten-well multi-pad infill drill program that can add an additional ~750 bpd at a low decline to Prospera’s current 900+boepd

With more than 42,000 cumulative acres across Cuthbert, Luseland and Heart Hills in Saskatchewan and Red Earth and Pouce Coupe in Alberta, Prospera Energy (TSX.V: PEI) (OTC: GXRFF) (FRA: OF6B) has the potential to be a significant North American oil and gas producer. In 2021, the company underwent a top-down reorganization, a strategy to realize this potential and do so with best practices regarding protecting the planet. Less than two years into the three-part plan, Prospera is hitting its key performance indicators (“KPIs”), and growing production with an eye on reducing vertical wells.

With its restructuring, Prospera incorporated innovative ESG (environmental, social, and governance) technologies to support a robust Liability Management Ration Program (“LMRP”) to reduce the environmental footprint, Asset Retirement Obligation (“ARO”), and corresponding control expenses and improve margins. LMRPs are an important tool for managing the financial risks associated with oil and gas abandonment and reclamation. They help to protect taxpayers, encourage companies to be more responsible, and ensure that wells and facilities are abandoned and reclaimed in a timely and environmentally responsible manner.

The Canadian government is supportive of LMRPs, offering financial incentives (e.g., tax credits) and loan guarantee programs to assist companies implement programs.

Prospera’s plan is working. 2021 reorganization efforts as phase one of the strategy resulted in production appreciation and liability reduction. Amongst other things, Prospera’s net asset value increased to $72 million from -$3.4 million prior to restructuring. In 2022, phase 2 of the development plan commenced, delivering net income of $3.1 million. In 2024, Prospera is targeting $26.5 million in net income.

From an environmental view, phase two includes capitalizing on Prospera’s large drilling inventory of 150+ targets that are estimated to hold more 400+ million barrels of heavy oil, with only about 9 percent recovered to date. The company has abandoned 60 vertical wells as part of its three-year LMRP that allows PEI to reclaim surface land and reduce environmental footprint. More broadly, the drilling of the new horizontal wells allows Prospera to abandon more than 200 vertical wells.

Phase three includes reducing carbon emissions with upgraded equipment, increasing carbon capture, and the latest technology to further improve profit margin.

This month, Prospera completed the drilling of four horizontal wells of a ten-well multi-pad infill drill program. These wells, which were completed ahead of schedule, encountered structure, and paid as expected with excellent oil shown throughout the pay.

These drilled horizontals are being completed and tied-in to existing infrastructure. Production will be brought on gently initially to optimize recovery due to the heavier fluid properties. The full deliverability can be attained, approximately, over a three-month period. Weather permitting, the next set of four horizontals are to commence within one week.

The ten-well program can approximately add an additional 750 barrels per day (“bpd”) at a low decline to Prospera’s current 900+boepd (barrels of oil equivalent per day). This infill development is intended to accelerate production and recovery to capture the significant heavy oil reserves in place.

Further, a medium-light oil spud will follow the heavy oil horizontal well transformation from vertical wells in the latter part of this month. These slanted drills are awaiting the preparation of the new leases, surface facilities, and connecting pipelines. The medium-light oil development entails six to eight directional wells that can add an additional 600bpd (gross) at 50%, while diversifying Prospera’s product mix and improving margin.

For more information, visit the company’s website at www.ProsperaEnergy.com.

NOTE TO INVESTORS: The latest news and updates relating to GXRFF are available in the company’s newsroom at https://nnw.fm/GXRFF

About NetworkNewsWire

NetworkNewsWire (“NNW”) is a specialized communications platform with a focus on financial news and content distribution for private and public companies and the investment community. It is one of 60+ brands within the Dynamic Brand Portfolio @ IBN that delivers: (1) access to a vast network of wire solutions via InvestorWire to efficiently and effectively reach a myriad of target markets, demographics and diverse industries; (2) article and editorial syndication to 5,000+ outlets; (3) enhanced press release enhancement to ensure maximum impact; (4) social media distribution via IBN to millions of social media followers; and (5) a full array of tailored corporate communications solutions. With broad reach and a seasoned team of contributing journalists and writers, NNW is uniquely positioned to best serve private and public companies that want to reach a wide audience of investors, influencers, consumers, journalists and the general public. By cutting through the overload of information in today’s market, NNW brings its clients unparalleled recognition and brand awareness. NNW is where breaking news, insightful content and actionable information converge.

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Reflex Advanced Materials Corp. (CSE: RFLX) (OTCQB: RFLXF) Looks to Secure Property Rights at Zigzag Lithium Project Site; Announces Start of Drill Work at Ruby Graphite Mine

 

• With EV sales skyrocketing around the world, securing lithium and natural graphite supplies has become a priority for battery manufacturers
• Reflex Advanced Materials has centered its efforts around catering to the lithium and graphite supply chains, with the company announcing that it had fulfilled the penultimate capital payment step needed to secure 100% ownership of its Ontario-based Zigzag lithium project
• The company also took the opportunity to announce the start of core exploratory drill work within the Montana-based Ruby Graphite project

As auto sales staged a significant recovery in the United Kingdom this summer, electric vehicles led the surge. The British Society of Motor Manufacturers and Traders (“SMMT”) revealed that a new battery electric car was registered every sixty seconds, with electric vehicle (“EV”) deliveries rocketing by 87.9 percent relative to the previous year. Moreover, the industry body forecast that new electric vehicle sales momentum would continue its meteoric rise, foreseeing that an electric vehicle would be registered every 50 seconds by year end, rising to one in every 40 by 2024 – a beneficiary of rising uptake levels for EV’s amongst automobile purchasers (https://nnw.fm/tCv4Q).

The increase in electric vehicle demand has led to a proportional increase in electric battery sales; automotive lithium-ion battery demand increased by approximately 65 percent to a cumulative 550 GWh in 2022, up from 330GWh in 2021 (https://nnw.fm/LXiYR). The ongoing shift towards renewable energy technologies within the automotive industry has led to a spiraling need to ensure the supplies of key raw materials within the battery manufacturing process – with lithium and graphite ranking chief amongst these. A typical EV battery can contain upwards of 8 kilograms of lithium and up to 50-100 kilograms of graphite (https://nnw.fm/oQJ9q); Reflex Advanced Materials (CSE: RFLX) (OTCQB: RFLXF), a British Columbia-based strategic minerals company has centered its corporate mission around locating and developing economic properties within the advanced materials space to cater to the rapidly growing needs of the global electric vehicle industry supply chain.

In mid-August, Reflex Advanced Materials announced that it would be issuing 100,000 new common shares of its capital, the penultimate step needed to fulfil a mineral property option payment agreement the company had entered in 2021 for its Zigzag lithium project. Located near Crescent Lake, Ontario and consisting of eight mining claims totaling approximately 2,710 hectares, the Zigzag lithium project is located deep within an area which has come to be known as the Seymour-Crescent-Falcon lithium belt (https://nnw.fm/cSjXi), a geographical phenomenon which has witnessed a number of recent lithium-focused exploration successes over the past few years.

Securing a steady source of lithium has become an increasingly urgent priority for EV battery manufacturers, with Albemarle, the world’s largest lithium producer, recently warning that global lithium demand could outstrip supply by approximately 500,000 tonnes as early as 2030. Despite 45 lithium mines operating globally in 2022, with a further 11 planned to open this year, and an additional seven in 2024, incoming supply of the mineral may not be sufficient to satisfy the sector’s voracious demand.

“You could end up in a crisis situation where the battery companies don’t have the security of (lithium) feedstock,” Stu Crow, chairman of peer lithium producer Lake Resources (https://nnw.fm/svArT).

In addition to its lithium-focused ambitions, Reflex Advanced Materials has also sought to boost its graphite supply capacity. One of only a handful of companies catering to the western natural graphite supply chain, Reflex announced that it would shortly begin mobilizing drill equipment for its planned Summer 2023 initial drill program at the Ruby Graphite project in Montana. The Ruby Graphite project, which had earlier produced upwards of 2,400 tons of graphite between 1902 and 1948, will see Reflex carry out over 3,500 meters of core exploratory drill work, with the company announcing that preparatory drill pad construction was already underway (https://nnw.fm/USl71). 

Paul Gorman, CEO of Reflex Advanced Materials, expressed his enthusiasm about the upcoming drilling campaign, stating, “The mobilization of drill rigs marks an important milestone for Reflex as we advance our exploration efforts at the Ruby Graphite project. We are confident that this drill program will not only confirm the presence of high-grade graphite based on the historical commercial production from the historical Crystal Graphite mine which operated within the current Ruby Graphite project before 1948, but also provide proof-of-concept for moving forward with this important critical and strategic resource.”

For more information, visit the company’s website at www.ReflexMaterials.com.

NOTE TO INVESTORS: The latest news and updates relating to RFLXF are available in the company’s newsroom at https://nnw.fm/RFLXF

About NetworkNewsWire

NetworkNewsWire (“NNW”) is a specialized communications platform with a focus on financial news and content distribution for private and public companies and the investment community. It is one of 60+ brands within the Dynamic Brand Portfolio @ IBN that delivers: (1) access to a vast network of wire solutions via InvestorWire to efficiently and effectively reach a myriad of target markets, demographics and diverse industries; (2) article and editorial syndication to 5,000+ outlets; (3) enhanced press release enhancement to ensure maximum impact; (4) social media distribution via IBN to millions of social media followers; and (5) a full array of tailored corporate communications solutions. With broad reach and a seasoned team of contributing journalists and writers, NNW is uniquely positioned to best serve private and public companies that want to reach a wide audience of investors, influencers, consumers, journalists and the general public. By cutting through the overload of information in today’s market, NNW brings its clients unparalleled recognition and brand awareness. NNW is where breaking news, insightful content and actionable information converge.

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SenesTech Inc. (NASDAQ: SNES) to Deploy ContraPest Solutions for Wastewater Facilities in Washington and California

 

• SenesTech, with its proprietary biological solution for efficiently and safely reducing rat populations without killing, represents a remarkable new path to clean cities, businesses, and households
• According to pest industry figures, rats cause over $27 billion in damage to public and private infrastructure annually in the United States
• ContraPest offers a unique solution for wastewater facilities because it is non-poisonous and comes in a variety of formats that can help control rat populations where other approaches fall short

SenesTech (NASDAQ: SNES), the rodent fertility control experts and the inventor of the only EPA-registered contraceptive for male and female rats, recently announced that its ContraPest(R) is being deployed in Washington and California through wastewater treatment facilities. Controlling rat infestations presents a unique challenge for wastewater treatment facilities because poisons cannot be introduced into the water supply, and ground-based stations may not be appropriate for many of the facilities.

“Municipalities and government entities comprise a broad and diverse customer base. We are continuously working with these customers, and the pest management professionals who service them, to understand their specific needs and to guide them as to how best to add ContraPest to their integrated pest management system,” said Joel Fruendt, President and CEO of SenesTech (https://nnw.fm/JEaTV). “Wastewater treatment deployment has very specific challenges, and we are able to develop and share deployment protocols utilized by other, similar customers.”

SenesTech strives for clean cities, efficient businesses, and happy households with a product scientifically designed to be effective without killing rats. The company’s first product, ContraPest, applies revolutionary technology to a challenge that has plagued the world since the Middle Ages – the increase of rat populations in urban and agricultural settings. The ContraPest formulation is a highly palatable liquid promoting sustained consumption. It targets the reproductive capabilities of Norway and roof rats, reducing fertility in both male and female rats, bringing populations down, and keeping them down.

SenesTech’s flagship offering, ContraPest, can be used as part of an integrated pest management (“IPM”) program – fitting seamlessly into all IPM programs, reducing reproduction, and magnifying the success of these protocols. It can also be used as a standalone solution for customers who want to reduce or eliminate the use of lethal rodent control methods. ContraPest reduced rat activity by up to 95% in multiple independent field deployments when added to an existing IPM program.

The global rodenticides market is expected to reach a revenue of $7.1 billion by 2027, growing at a CAGR of 5.8%. The market’s growth is attributed to the rising concern for environmental pollution and public health hazards posed by vector-borne diseases, fueling the global demand for rodent control services. The growing population, limited resources, and ecosystem degradation are factors that contribute to the rodents’ ability to survive in different seasons and overpopulation (https://nnw.fm/lZpI5).

Rats are known to spread at least 35 diseases, posing a dangerous risk to public health and safety across the globe. This problem persists despite extensive campaigns to eradicate it, and multiple sources have reported a boom in post-COVID rat populations. Although poison-based control methods sicken rats, they die slowly – and when an animal eats these infected rats, it can also make that animal sick.

ContraPest is available in three unique bait systems – the Ultimate Bait System(TM), Elevate Bait System(TM), and Isolate Bait system(TM). The active ingredients in ContraPest are specifically formulated for rats and break down in their digestive system, resulting in no bioaccumulation or biomagnification in the environment.

For more information, visit the company’s website at www.SenesTech.com.

NOTE TO INVESTORS: The latest news and updates relating to SNES are available in the company’s newsroom at https://nnw.fm/SNES

About NetworkNewsWire

NetworkNewsWire (“NNW”) is a specialized communications platform with a focus on financial news and content distribution for private and public companies and the investment community. It is one of 60+ brands within the Dynamic Brand Portfolio @ IBN that delivers: (1) access to a vast network of wire solutions via InvestorWire to efficiently and effectively reach a myriad of target markets, demographics and diverse industries; (2) article and editorial syndication to 5,000+ outlets; (3) enhanced press release enhancement to ensure maximum impact; (4) social media distribution via IBN to millions of social media followers; and (5) a full array of tailored corporate communications solutions. With broad reach and a seasoned team of contributing journalists and writers, NNW is uniquely positioned to best serve private and public companies that want to reach a wide audience of investors, influencers, consumers, journalists and the general public. By cutting through the overload of information in today’s market, NNW brings its clients unparalleled recognition and brand awareness. NNW is where breaking news, insightful content and actionable information converge.

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Scinai Immunotherapeutics Ltd. (NASDAQ: SCNI) Finalizes Rebrand to Reflect New Strategic Direction, Diversification

 

• Scinai Immunotherapeutics, a biotechnology company focused on developing, manufacturing, and commercializing innovative immunotherapeutic products, recently finalized a major rebrand, changing its corporate name from BiondVax Pharmaceuticals
• The rebrand is part of a series of steps to better reflect the company’s new direction and new developments aimed at new scientific breakthroughs
• Amir Reichman took over as CEO in March 2021 and together with the Board of Directors, began implementing a raft of changes aimed at redirecting the company’s focus and diversifying corporate risks
• Scinai is developing a pipeline of novel NanoAbs, with its development pipeline including NanoAbs for the treatment of psoriasis, psoriatic arthritis, asthma, macular degeneration, and Hidradenitis Suppurativa
• The company is intensifying its pipeline development, identifying additional opportunities, and developing novel solutions for large-market unmet needs in 2023 and beyond

When Amir Reichman took over the reins as CEO of the then-named BiondVax Pharmaceuticals in March 2021, he and the Board of Directors embarked on redefining the biotechnology company’s mission and vision. “Our new mission reflects an aspiration to focus on infectious diseases, which leverages [the company’s] core competencies, while ensuring fdiversification of our corporate risks through the establishment of a new, broad product and platform pipeline,” shared Reichman in his first letter to shareholders (https://nnw.fm/gdQOu).

Reichman expressed his intent to rejuvenate the company by implementing a strategy that would diversify the risk along four main axes, including building a pipeline of products for both prevention and treatment of infectious diseases and related illnesses; building a pipeline that would present various routes of drug delivery; building a pipeline that would rely on various platforms; and building a pipeline of products at different stages of clinical development. “If successfully implemented, this strategy would provide [the company] with a robust and diverse multi-dimensional pipeline,” continued Reichman.

Over the two years since that initiation, the company has revamped its senior management team and pharmaceuticals development programs. Additionally, as part of its diversification strategy, the company has expanded into the Contract Development and Manufacturing Organization (“CDMO”) business. Together, these changes represent a fresh start for the company as it journeys toward a new strategic objective. As part of this journey, the company also recently finalized a major rebrand, debuting as Scinai Immunotherapeutics (NASDAQ: SCNI) on Nasdaq as of September 7 this year (https://nnw.fm/vvvqs).

“The biotech sector has been through an extremely challenging time in the past 18-24 months, with low stock prices and scarce capital. We have nevertheless made tremendous progress executing our turnaround program with limited resources and believe we are at the cusp of building a significant and successful company,” commented Reichman in the news release. “We have a sharp commercial focus and a pipeline with blockbuster potential, steeped in science, strong leadership, and an expertly designed technological base. Building on promising data of our initial NanoAb therapies, we look forward to continuing our current pipeline development and also identifying additional opportunities and developing novel solutions for unmet needs in 2023 and beyond.”

Anchoring Scinai’s renewed commercial focus and pipeline development is a robust collaboration with the Max Planck Society, the parent organization of the Max Planck Institute for Multidisciplinary Sciences (“MPI”), and the University Medical Center Göttingen (“UMG”), both in Germany, to develop innovative alpaca-derived nanosized antibodies (“NanoAbs”) (https://nnw.fm/sDlZH).

The NanoAbs are approximately one-tenth the size of standard monoclonal antibodies (“mAbs”) and are designed to overcome the limitations of existing antibody therapies. For instance, NanoAbs may be effective at extremely low concentrations, which translates to fewer side effects. Moreover, they are expected to have better tissue penetration because of their small size and have demonstrated superior thermostability, which, according to Scinai, could translate to superior shelf life, easier transportation, and more convenient routes of administration. These favorable and unique attributes bolster the company’s efforts to create ‘biobetter’ therapeutics that address large and underserved markets.

In early June, Scinai, in exercise of its broad-based collaboration agreement with Max Planck Society and UMG, signed an exclusive worldwide license agreement to develop and commercialize NanoAbs targeting interleukin-17 (“IL-17”), an immune system cytokine, as treatments for all potential indications, including psoriasis, psoriatic arthritis, and Hidradenitis Suppurativa (https://nnw.fm/1eKnI). Beyond that, the company’s NanoAb development pipeline also includes anti-IL-13 and anti-TSLP therapeutics for the treatment of asthma and anti-Ang-2 and anti-VEGF therapeutics for the treatment of age-related wet macular degeneration.

This pipeline approach, Scinai says, affords it considerable flexibility with respect to partnering and extending its assets, opening enhanced potential to generate income through license fees, milestone payment, and royalties, in return for participation in associated R&D costs. To complement its R&D operations, the company also launched Scinai Bioservices, a new business unit that will provide a multitude of CDMO services to support biotechnology companies through process development and GMP manufacturing.

“I’d like Scinai to be internationally recognized for scientific excellence in drug development that is done in the fastest, sharpest way and with the highest quality possible. I want Scinai to be the go-to company for large multinational companies seeking innovative technology and partners that excel in drug development and that can bring their return on investment much faster,” shared Reichman in a video published recently on the company’s YouTube channel (https://nnw.fm/r9rBr).

The name change only reinforces the mission and commitment of Jerusalem-based Scinai Immunotherapeutics to develop, manufacture, and commercialize potential blockbuster immunotherapeutic products for the treatment of infectious diseases and autoimmune disorders. Expect to hear lots more from this innovative biotech company in the months to come.

For more information, visit the company’s website at www.Scinai.com.

NOTE TO INVESTORS: The latest news and updates relating to SCNI are available in the company’s newsroom at https://nnw.fm/SCNI

About NetworkNewsWire

NetworkNewsWire (“NNW”) is a specialized communications platform with a focus on financial news and content distribution for private and public companies and the investment community. It is one of 60+ brands within the Dynamic Brand Portfolio @ IBN that delivers: (1) access to a vast network of wire solutions via InvestorWire to efficiently and effectively reach a myriad of target markets, demographics and diverse industries; (2) article and editorial syndication to 5,000+ outlets; (3) enhanced press release enhancement to ensure maximum impact; (4) social media distribution via IBN to millions of social media followers; and (5) a full array of tailored corporate communications solutions. With broad reach and a seasoned team of contributing journalists and writers, NNW is uniquely positioned to best serve private and public companies that want to reach a wide audience of investors, influencers, consumers, journalists and the general public. By cutting through the overload of information in today’s market, NNW brings its clients unparalleled recognition and brand awareness. NNW is where breaking news, insightful content and actionable information converge.

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