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 Khersonon Feb 12, 2020 11:08pm

118 Views

Post# 30683364

RE:RE:Timing of 2020 outlook/budget seems odd

Kherson wrote:

Kings_kid wrote:
Good afternoon all!

Before I bring up what I feel is odd, I am happy with the outlook, they are looking out for the best for there share holders. I have always supported SGY management and continue to with there 2020 budget.

Now what I find odd, in SGY Q3 announcement under the heading OUTLOOK - CONSISTENT PRODUCTION; SUSTAINABLE DIVIDEND there is a line about 2020 guidance. It states as follows, "Surge anticipates confirming 2020 guidance in early January 2020". Today is only December 12th, that's a month early. In addition to that in contacting the company earlier I was told that guidance was anticipated before January 15th.

I can't say I have an explanation as to why SGY would move its guidance release up, but it does seem odd. Any ideas out there as to why they have done this?

Good luck to all the longs! Look forward to hearing everyone's thoughts on the budget as well as anything you have to offer on my the early guidance?

Have a great night!

Kid

Looks to me like the Buyout negotations fell through and Surge is now preparing shareholders for a hostile takeover!
Very interesting that the OOIP number has increased by 500 million barrels from the November presentation, which has now been removed from their site!
Either way, the shorts will now have to begin covering!
Kherson