Prairie Operating Co（PROP）资讯与事件PROPPrairie Operating Co

Prairie Operating Shares Down 35% to Eliminate Dilution Risk

Prairie Operating shares are down 35% in late day trading after the company announced earlier that it has entered into an agreement with the holder of its Series F Convertible Preferred Stock, providing a path to eliminate any potential dilution associated with the related Anniversary Warrants of the Series F Preferred Stock. Key terms of the agreement include: Immediate repayment of $13.7M in stated value of the Series F Convertible Preferred Stock and waiver of the previously announced $3.0 million cash extension fee agreed to on March 25; A reduction in the shares covered by the Anniversary Warrant from 125% to 75% of the outstanding stated value of the Series F Preferred Stock; Total potential issuance of Anniversary Warrants was reduced from approximately 77M shares as of March 26, to approximately 34M shares as of April 7; Anniversary Warrant issuance date extended 90 days to July 8, so that the company can continue to pursue solutions to eliminate the issuance of any future Anniversary Warrants. In exchange for the above, the holder of the Series F Convertible Preferred Stock received penny warrants exercisable for 4.0M shares of the company's common stock, Prairie Operating noted. Gregory Patton, Executive Vice President and Chief Financial Officer, commented, "This agreement represents the partnership we have with our Series F holder and an important step in eliminating a material source of potential dilution for our shareholders. We are working collaboratively with the holder to further reduce the Series F Preferred Stock over the next 90 days while continuing to optimize the capital structure, with a shared objective of eliminating the remaining warrant related dilution associated with the Anniversary Warrants. We remain focused on completing this process and enhancing long-term shareholder value."

Prairie Operating Co. Year-End Proved Reserves Evaluation Results

Prairie Operating Co. reported the results of its independent year-end proved reserves evaluation for all of its oil and natural gas properties. The Company's proved reserves were evaluated by Cawley, Gillespie & Associates in a report completed on February 12, 2026, with an effective date of December 31, 2025. The evaluation was prepared in accordance with SEC guidelines, including Item 1202(a)(8) of Regulation S-K. The estimates reflect proved reserves only and do not include probable or possible reserves. At year-end 2025, Prairie's total proved reserves were 60 million barrels of oil, 195 billion cubic feet of natural gas, and 29 MMBbl of natural gas liquids, for a combined total of approximately 121 million barrels of oil equivalent. Of the total proved reserves, approximately 68 MMBoe were classified as proved developed and 53 MMBoe were classified as proved undeveloped. At year-end 2025, Prairie's operated and non-operated production was approximately 28,000 barrels of oil equivalent per day, reflecting the strength of the Company's producing asset base and the impact of development activity during the year. SEC pricing as of December 31, 2025, was $65.34 per barrel of oil and $3.387 per MMBtu of natural gas, calculated in accordance with SEC guidelines. These prices were adjusted for applicable differentials, including transportation, local basis differentials, crude quality and gravity corrections, gas shrinkage, and gas heating value, resulting in net realized prices of $62.99 per barrel of oil, $0.797 per Mcf of natural gas and $18.56 per barrel of NGLs over the life of the proved properties. Estimated future net cash flows before federal income taxes attributable to total proved reserves were approximately $2,414 million. The present value of these future net cash flows discounted at an annual rate of 10% was approximately $1,220 million, of which approximately $860 million, or 71%, is attributable to proved developed reserves.