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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
Comment by powermanon Feb 16, 2018 10:21am
110 Views
Post# 27571616

RE:RE:RE:shares buyback

RE:RE:RE:shares buybackWell you have made a fine case for shutting down the whole fricken O&G industry. So then why not go buy Suncore and tell them to stop mining their reserves and buy back shares instead because that would be stupid and nobody would listen but environmentalists.

Buying back shares is just a dumb move for surge to do. As you may see from the attached, Surge is planning on drilling this year so why not use the funds from the sale to do some of the drilling??? Or are you saying the capx should be spent on share buy backs as well???  DF

In 2018 Surge now anticipates spending $98.75 million of total capital, broken down as follows:

Capital Category

Amount

Drill & Complete, Tie-in

$68.75 million

Waterflood

$4 million

Facilities

$9 million

Workovers

$7 million

Land, Capitalized G&A, other

$10 million

Total

$98.75 million

 

DF
Bullboard Posts