RE:What a great Q1 ReportI had to read it over and over. Still can't believe they missed this for all these years. Upper Shaunavon is 12 miles long by 7 miles wide with a 6 meters pay zone. My favourite part posted below. DF
The Upper Shaunavon play has risked, "all-in", drilling and on-stream production efficiencies of less than $15,000 per flowing boepd. At current oil prices, Surge's Upper Shaunavon wells pay out in less than 13 months, and generate a risked rate of return of over 80 percent. These results provide some of the best all-in production efficiencies and rates of return of any crude oil play in Canada. Netbacks are very high at Shaunavon due to low operating costs of less than $9 per barrel, and low royalties. Another significant factor as to why the Shaunavon play has such high rates of return is that Surge controls a 10,000 boepd oil battery (and associated gathering and waterflood systems), owns 54 sections of contiguous land, and possesses a large 3-D seismic program over the Company's lands.