Prairie Thunder Resources Ltd. (“Prairie Thunder” or the “Company”) has engaged Sayer Energy Advisors to assist the Company with the sale of its oil and natural gas interests located in the Grande Prairie area of Alberta (the “Property”). 

Average daily production net to Prairie Thunder from Grande Prairie for the fourth quarter of 2023 was approximately 181 boe/d, consisting of 639 Mcf/d of natural gas and 75 bbl/d of oil and natural gas liquids.

Operating income net to Prairie Thunder from Grande Prairie for the fourth quarter of 2023 averaged approximately $93,000 per month, or $1.1 million on an annualized basis. 

At Grande Prairie, Prairie Thunder holds primarily a 100% working interest in 19.5 sections of land. The Property is producing oil and natural gas from the Montney and Dunvegan formations. The Property has great potential for development of the Montney reservoir, comparable to nearby analogue pools such as Ante Creek.

As of January 6, 2024, the Grande Prairie property had a deemed net asset value of $2.0 million (deemed assets of $4.9 million and deemed liabilities of $2.9 million), with an LMR ratio of 1.70.

InSite Petroleum Consultants Ltd. (“InSite”) prepared an independent reserves evaluation of the Property (the “InSite Report”) as part of the Company’s year end reporting. The InSite Report is effective January 1, 2024 using InSite’s December 31, 2023 forecast pricing. InSite estimates that, as at December 31, 2023, the Grande Prairie property contained remaining proved plus probable reserves of 44.2 Bcf of natural gas and 3.5 million bbl of oil and natural gas liquids, with an estimated net present value of $82.9 million using forecast pricing at a 10% discount.

Summary information relating to this divestiture will be sent to any party executing a Confidentiality Agreement (copy attached). 

Cash offers relating to this process will be accepted until 12:00 pm on Thursday, April 25, 2024.

For further information please feel free to contact: Ben Rye, Sydney Birkett, or Tom Pavic at 403.266.6133.