Surge Energy Inc (Alberta) T.SGY

GUIDANCE 2021

[Sheshe1234]

Surge Energy Lays Out Preliminary Production Guidance for 2022, Raises C$23 Million from Bought Deal Share Offering

 

13 May 202109:26 ET

 

09:26 AM EDT, 05/13/2021 (MT Newswires) -- Surge Energy (SGY.V) on Thursday released preliminary guidance for production and cash flow in 2022 as it announced the completion of a bought deal public offering of flow-through common shares, raising gross proceeds of just over C$23 million.

The company issued 38,985,000 flow-through shares at $0.59 apiece. Underwriters led by Cormark Securities Inc. and National Bank Financial Inc. fully exercised their overallotment option of up to 15% of the initially offered shares.

Proceeds from the offering will be used for Surge's expanded development program for the second half of 2021.

Meanwhile, Surge is budgeting $83 million for its 2022 exploration & development capital program and expects to maintain production at 16,500 barrels of oil equivalent per day. The company expects to generate $62 million or $0.16 per share of free cash flow next year, representing a yield of about 28%.

Surge also added that the maturity of its first lien credit facilities has been extended to July 1, 2022, from Dec. 30 this year.

Price: 0.5400, Change: -0.0100, Percent Change: -1.82

[Sheshe1234]

Everyone is running scared. Not me , hanging onto my shares. Give it 4 months back at $1

[Stockhudson]

I grabbed a few more today     but I dont know why    GLTA

[Sheshe1234]

Because you like to make money!!!

[littledave55555]

I grabbed a lot and plan on grabbing a lot more ... I'm not sure why so many people are jumping ship ... the company is doing what they can to get into better shape ... I also own ATH An my favorate IPO .... to other companys that need to get back into better shape... they all will have a good year... An all will hit a buck before the year is over..... This is easy money ...

[Sunset48]

Hey Bigdave..............Looks like we're following eachother around.  I'm also in ATH and of course my favorate as well IPO.   My TAL has had a little setback and I'm going to hold steady with SGY. Not golfing but I have another 65 km bike ride planned starting this morning. Have to give you credit......you were the #1 cheerleader on the IPO board and you were right on

[littledave55555]

Lol nice enjoy the ride an im still really big on IPO The Ceo doug just bought 100000 shares at 70 cents ... that showing invester a possitive out look have a great week love canadian oil companys they all have only one direction an that up

[Stockhudson]

yes                  I do but I have a bad feeling here   this thing cant lv .60 for some reason