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Surge Energy Inc (Alberta) T.SGY

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

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

Bullboard Posts
Post by Papagalloon Sep 26, 2015 8:23am
312 Views
Post# 24137872

DaSilva contradicted himself on div sustainability

DaSilva contradicted himself on div sustainabilityNone of the BNN shills should be trusted. TOG dividend is slightly lower than SGY but d/cf is double. SGY unloaded their bottom quartile assets to TOG and TOG added significant debt by CPP to finance them. TOG is mostly unhedged and dividend will be cut while SGY is safe for at least 6 months. HNL was his second pick. A poorly managed company that mislead shareholders last year while a director, Ric Peterson, was unloading millions of shares ahead of disclosing a material downturn in business. Business was/is so bad they had to do a recent equity raise to fund the dividend and shore up the balance sheet. For some reason, Nuttal and DaSilva are now pumping this garbage based on a long shot LNG project. The only reason that seems logical is to pump their own book. Do your own dd and trust no one.
Bullboard Posts