Surge Energy Inc (Alberta) T.SGY

Net Debt at $286M...$250 Target

[PreludeSH]

Net Debt was reduced by $25.5M to get us to $286M.  We are still $36M away from the next Target Debt level of $250M.

Hope $36M can be paid down by end of Q4 this year

[vwbusman]

That was a good chunk of debt paid off in Q3 - 1.5 more quarters or until the debt target is hit - this is reasonable - all in all a good quarter

[masfortuna]

 It's possible that they hit 36 million to pay down debt but it will be tight. q4 is usually a good quarter and oil has been up in q4 thus far. all in all no surprises and a good quarter.

[zinger99]

Great quarter!! With half of Q4 already complete and WTI prices averaging well above Q3 average prices, we should be well on our way to a great Q4 and the next debt target!  We should also see better ave production in Q4 with any luck!! 

[Playacar]

Am I wrong.  With there recent refinancing.  Isn't there an extra 10 million.  Apply this to there bank debt and they should easily hit the debt target 

[Baystboy07]

Target is "net debt" which is inclusive of convertible debentures. Look at the reconciliation near the end of the press release. 

[Playacar]

You are so right.  

[befree]

will be tight / is possible / oil  85 plus nine point 9.5 million shares  says alot hopefully Paul stays focused befree in the maritimes

[uwebb429]

> Hope $36M can be paid down by end of Q4 this year With cash flow strategically allocated between high rate of return capital expenditures, and the achievement of the Company's previously announced net debt targets, Management currently forecasts that the Company will achieve its previously announced Phase 2 return of capital net debt target in late Q1/24 or early Q2/24, based on