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.

TSX:SGY - Post by User

Surge Energy Inc (Alberta)

Bullboard Posts

Comment by PUNJABIon Dec 01, 2014 9:02pm

367 Views

Post# 23183807

RE:RE:RE:SGY was walked down for a block sales

Brokers have different margin requirements. Margin calls are taking place in the entire sector. Stocks well above $5.00 are being dumped out of over leveraged & oil concentrated portfolios as the buying power of the accounts are eroded as oil stocks continue to lose big chunk of their values. Some of the selling of SGY would be margin related.

But I doubt that the sale of $2,450,000 shares by National to GMP & cross of 463300 shares was margin call. You do not just go & sell a large block of about 2.5m million shares without prior arrangements & fixing a price.

Stock may have been weak & traded lower but a dive to $4.35 with a drop of $.66 was result of this large block sales. National had to take out lot of bids to get the price down so low.

So national was executing one large margain call. I doubt it.

There are some gaps in my information about SGY as I did not follow this stock very closly. Have filped it a few times.

Long veiw business combination was at 35% premium and 38 million SGY shares were issued. This block sale could be related to Long view. There could be more shares coming to the market. Does anyone know if there was a holding period. Some large Long view shareholders would have some price cushion becasue of 35 % premium & would not hesitate to sell.

12 Block Trades

Time ET	Ex	Symbol	Price	Change	Volume	$Value	Buyer	Seller	Markers
14:23:06	T	SGY	4.35	-0.66	2,450,000	10,657,500	74 GMP	80 National Bank	KW
14:33:36	T	SGY	4.35	-0.66	463,300	2,015,355	80 National Bank	80 National Bank	W
14:51:19	T	SGY	4.40	-0.61	300,000	1,320,000	74 GMP	74 GMP	K
14:54:32	T	SGY	4.40	-0.61	200,000	880,000	33 Canaccord	33 Canaccord
15:05:01	T	SGY	4.40	-0.61	200,000	880,000	33 Canaccord	33 Canaccord	K
14:45:20	T	SGY	4.40	-0.61	200,000	880,000	74 GMP	74 GMP	K
10:13:21	T	SGY	4.63	-0.38	200,000	926,000	80 National Bank	80 National Bank	W
12:22:11	T	SGY	4.49	-0.52	200,000	898,000	11 Macquarie	11 Macquarie	K
14:33:44	T	SGY	4.35	-0.66	182,000	791,700	74 GMP	1 Anonymous	KW
13:15:42	T	SGY	4.50	-0.51	150,000	675,000	80 National Bank	80 National Bank	W
14:01:39	T	SGY	4.50	-0.51	100,000	450,000	33 Canaccord	33 Canaccord	K
14:44:13	T	SGY	4.40	-0.61	100,000	440,000	33 Canaccord	33 Canaccord	K