RE:RE:Q3 '21 Net Debt Down $50,203,000.00 From Q3 '20https://stockhouse.com/companies/bullboard/t.sgy/surge-energy-inc?postid=34133570
"As for the difference in Earnings between years, that's primarily due to a reversal in an impairment charge due to changes in reserve valuations due to price differences between March 2020 and March 2021." - Kontrary
A reversal in an asset is an increase wealth. The rise in oil prices made Surge's properties valuable again. That is worth money. An asset that appreciates is a gain in wealth. Does not matter if it is cash, diamonds, paintings, oil, copper, land, building, running shoes or whatever.
Just like Converse All-Star running shoes that lost value only to regain value after Nike, seeing there was a generational change in foot wear tastes, bought out the bankrupt Converse Company in 2001 and revived the brand. All-Stars sell for $70 now, almost as much as a barrel of oil.
The value of the Converse brand revived because of a new generation with changing tastes created demand for Converses just as the value of Surge's oil assets revived with increasing demand for oil with tight supply.
https://www.chucksconnection.com/history1.html