My takeIt was basically what i expected except for the land purchase in Sask.
"Surge reported a realized loss on financial contracts of $28.8 million in Q1/22, primarily due to fixed price oil hedging"
More than 1/3 of oil production in the 2nd quarter is hedged at 60.75 usd
Q1 2022 4000Barrels@ 58.74 usd
Q2 2022 7000barrels @ 60.75 usd
Q3 2022 4000 barrels @ 60.71 usd
Q4 2022 4000 barrels @ 60.33 usd
Dividend was more than fair imho with the hedges still on for Q2.
If i can still buy this for under $10.00 on June 29th and WTI is still over a $100.00 usd i am a buyer.
Looking forward to CJ Q1 on May 12th.... They pump about the same amount of oil as Surge with half the debt and no hedges but they also have twice as many shares.
Good luck all SGY and CJ longs.