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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 unc12345on May 11, 2020 3:58pm
151 Views
Post# 31013693

RE:RE:RE:RE:RE:RE:MORE CUT'S NEEDED TO STAY A FLOAT

RE:RE:RE:RE:RE:RE:MORE CUT'S NEEDED TO STAY A FLOATThanks for the info.  I am an owner yes,average cost in various accounts anywhere from 1.00 to about 1.60.  $2+ offered, umm...yeah I'd look at taking some profits, but if that were offered, you know darn well it's going to 3 or 4. It doesn't look possible right now but I thought it was a bargain at $1 so what do any of us know really?

Based on the numbers I see, although it doesn't look good at the moment, I'd say we can hang on and get through this but it's not for sure and it won't be without its moments. Obviously depends on an assessment by the banks who will be protecting themselves, but that's where I hope the credit backup can help.  I believe that management has shown themselves to be prudent and has made fairly quick decisions and been honest with investors.

Anyway, good luck to all longs as we move forward from here.
Bullboard Posts