Surge Energy Inc (Alberta) T.SGY

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

Energy Oil & Gas E&P

Surge Energy Inc. is a Canada-based oil focused exploration and production (E&P) company. The Company's business consists of the exploration, development and production of oil and gas from properties in Western Canada. It holds focused and operated light and medium gravity crude oil properties in Alberta, Saskatchewan and Manitoba, characterized by large oil in place crude oil reservoirs with low recovery factors. It offers exposure to two of the five conventional oil growth plays in Canada: the Sparky and SE Saskatchewan. It holds a dominant land position and is drilling a mix of horizontal multi-frac and horizontal multi-lateral wells in the Sparky area. Sparky is a large, well established oil producing fairway in Western Canada. SE Saskatchewan is a focused operated asset base with light oil operating netbacks. SE Saskatchewan operates low-cost wells with short payouts and offers potential for continued area consolidation.

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Surge Energy Inc (Alberta)

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Comment by Tobuyornoton Nov 04, 2014 12:41pm

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Post# 23093045

RE:Did Surge hedge any 2015 volumes?

With the low Canadian dollar Surge continues to realize WTI pricing of over CAD$91 per barrel1. Reduced differentials and the Company's strategic ongoing hedging programs, enhance and further protect Surge's monthly cash flows. Surge has over 40 percent of the Company's net crude oil production locked in at over C$100 per barrel through July, 2015.

Consequently, in 2015 (utilizing US$79.50 WTI per barrel pricing) Surge now anticipates delivering more than 17 percent growth in average daily production over 2014 (five percent growth in production per weighted average share), and paying the Company's current $0.60 per share annual dividend, while maintaining an all-in payout ratio3 of under 94 percent!

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