[Form 4] Prairie Operating Co. Insider Trading Activity

Rhea-AI Filing Summary

Prairie Operating Co. (PROP) reported insider share purchases by Narrogal Nominees Pty Ltd ATF Gregory K O'Neill Family Trust, a director and 10% owner. The filing shows multiple open-market purchases of common stock between 11/14/2025 and 11/21/2025, coded as "P" for purchases. Individual trades include, for example, 199,463 shares at $1.7329 on 11/14/2025 and 800,000 shares at $1.7063 on 11/20/2025. Following these transactions, the reporting person beneficially owns 13,776,036 shares of Prairie Operating common stock in direct form.

Insights

Equity Governance Analyst

Large, rapid open-market share purchases by a major holder increase direct ownership and signal stronger alignment with common equity.

The filing shows **Narrogal Nominees Pty Ltd ATF Gregory K O'Neill Family Trust** making multiple open-market purchases of **Prairie Operating Co.** common stock (Code "P") from 11/14/2025 to 11/21/2025. Across eight trades, the reporting person acquired 1,736,422 shares at prices between about $1.67 and $1.75 per share. Following these transactions, the reported direct beneficial ownership rose to **13,776,036** common shares, with no sales reported in this Form 4.

The reporting person is identified as a **director** and **10% owner**, so this level of incremental buying consolidates a already significant equity position. All holdings are reported as **direct (D)**, and there are no derivative securities reported in Table II, which keeps the capital structure exposure straightforward. The explanatory note clarifies that the Family Trust is the record holder, and that Narrogal Nominees Pty Ltd and Gregory K. O'Neill may be deemed to share beneficial ownership, while each disclaims ownership beyond their economic interest.

The key point to watch is whether this pattern of open-market accumulation continues in future Section 16 filings after 11/24/2025, and how the total beneficial stake evolves over time. The short, concentrated purchase window in mid-November 2025 creates a clear reference period for tracking any subsequent changes in ownership levels or reporting structure.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Narrogal Nominees Pty Ltd ATF Gregory K O'Neill Family Trust

(Last) (First) (Middle)

LEVEL 27, 60 CITY ROAD SOUTHBANK

(Street)

MELBOURNE C3 VIC 3006

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Prairie Operating Co. [ PROP ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
11/14/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

	Form filed by One Reporting Person
X	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	11/14/2025		P		199,463	A	$1.7329	12,239,077	D
Common Stock	11/17/2025		P		168,897	A	$1.7471	12,407,974	D
Common Stock	11/18/2025		P		131,814	A	$1.7458	12,539,788	D
Common Stock	11/19/2025		P		149,271	A	$1.7189	12,689,059	D
Common Stock	11/19/2025		P		50,000	A	$1.7197	12,739,059	D
Common Stock	11/20/2025		P		800,000	A	$1.7063	13,539,059	D
Common Stock	11/21/2025		P		50,000	A	$1.6698	13,589,059	D
Common Stock	11/21/2025		P		186,977	A	$1.6926	13,776,036	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

1. Name and Address of Reporting Person^*

Narrogal Nominees Pty Ltd ATF Gregory K O'Neill Family Trust

(Last) (First) (Middle)

LEVEL 27, 60 CITY ROAD SOUTHBANK

(Street)

MELBOURNE C3 VIC 3006

(City) (State) (Zip)

Relationship of Reporting Person(s) to Issuer

	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

1. Name and Address of Reporting Person^*

Narrogal Nominees Pty Ltd

(Last) (First) (Middle)

LEVEL 27, 60 CITY ROAD SOUTHBANK

(Street)

MELBOURNE C3 VIC 3006

(City) (State) (Zip)

Relationship of Reporting Person(s) to Issuer

	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

1. Name and Address of Reporting Person^*

O'Neill Gregory K

(Last) (First) (Middle)

LEVEL 27, 60 CITY ROAD SOUTHBANK

(Street)

MELBOURNE C3 VIC 3006

(City) (State) (Zip)

Relationship of Reporting Person(s) to Issuer

	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

Explanation of Responses:

Remarks:

Narrogal Nominees Pty Ltd ATF Gregory K O'Neill Family Trust (the "Family Trust") is the record holder of all securities reported herein. Gregory K. O'Neill is the sole director of Narrogal Nominees Pty Ltd, the trustee of the Family Trust, and as such has voting or investment control over the shares directly held by the Family Trust. Mr. O'Neill is also a beneficiary of the Family Trust. As a result of these relationships, each of these entities and individuals may be deemed to have or share beneficial ownership of the securities held of record by the Family Trust. Each such entity or person disclaims beneficial ownership of such securities except to the extent of their respective pecuniary interest therein.

	NARROGAL NOMINEES PTY LTD ATF GREGORY K O'NEILL FAMILY TRUST By: /s/ Gregory K. O'Neill, Sole Director of Narrogal Nominees Pty Ltd, trustee	11/24/2025
	NARROGAL NOMINEES PTY LTD By: /s/ Gregory K. O'Neill, Sole Director	11/24/2025
	/s/ Gregory K. O'Neill	11/24/2025
	** Signature of Reporting Person	Date
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