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Surge Energy Inc (Alberta) T.SGY

Alternate Symbol(s):  T.SGY.DB.B | ZPTAF

Surge Energy Inc. is a Canada-based oil focused exploration and production company. The Company’s business consists of the exploration, development and production of oil and gas from properties in western Canada. Its operations include Sparky and SE Saskatchewan. Its supporting assets include Valhalla, and Greater Sawn. The Sparky operation offers light/medium crude oil production with compelling returns. The SE Saskatchewan operation maintains asset base oil operating netbacks. It has low-cost wells with short payouts and the potential for continued area consolidation. The Valhalla operation offers a stacked pay multi-zone potential with light oil and provides a range of area infrastructure and access to multiple egress options supports attractive operating netbacks. Its Greater Swan operation consists of concentrated light oil assets with conventional slave point reefs.


TSX:SGY - Post by User

Post by Baystboy07on May 03, 2023 10:17pm
249 Views
Post# 35429074

Quarter was garbage…

Quarter was garbage…Basically issued 1.9 million flow through for $19 mil proceeds...payed down about $13 mil is debt and had some non cash working capital changes...

Cash from ops was $55mil but $44 mil was spent on drilling...

so in totality free cash flow was $11 million

they are taking it up the a$$ with the new acquisition

Paul needs to be turfed!!!

dude keep building barrels but can't pay down the damn debt and keeps diluting us.

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