Longview Oil Corp LGVWF

from Stockwatch

[blondeBond]

Paul Colborne's Surge Energy Inc. (SGY) lost 16 cents to $6.65 on 1.77 million shares. It trades ex dividend today, and has been generally weak since proposing an all-share takeover of Longview Oil Corp. (LNV: $6.46) in April.
Longview will hold a shareholder meeting next Tuesday to approve the deal.
Surge held its own meeting last week. President and CEO Colborne was in excellent spirits, telling shareholders, "Almost every one of the factors that made Canada a lousy place to be for investors has [changed] ... dramatically" over the last year. Prices are up, the Canadian dollar is in a better place for the industry (which means down), and pipelines and other infrastructure have eased the oil glut at Cushing, Okla. All of this improves the outlook for Canadian energy. Chief operating officer Dan Brown talked about Surge's "three growth engines" this year, being Sparky in southeast Alberta (where Surge is excited about waterflooding) and the Midale and Shaunavon plays in Southern Saskatchewan (both of which are relatively new assets that Surge acquired in the second half of 2013). Mr. Brown seemed particularly optimistic about Shaunavon, saying Surge expects to achieve "a couple of thousand barrels a day inside the next 18 to 24 months." Surge "couldn't be more excited and positive," summed up Mr. Colborne. He is about to have even more time to dedicate to the company. In the year since taking over as Surge's president and CEO, Mr. Colborne resigned from the boards ofCrescent Point Energy Corp. (CPG: $44.11) and Cequence Energy Ltd. (CQE: $2.61), and is now adding Legacy Oil + Gas Inc. (LEG: $8.34) to that list. He did not stand for re-election at Legacy's annual meeting this afternoon.