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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 2smart4u2on Jun 04, 2020 11:46am
166 Views
Post# 31111804

RE:RE:RE:RE:RE:RE:RE:disagree with materiality- they should announce something

RE:RE:RE:RE:RE:RE:RE:disagree with materiality- they should announce somethingThe redetermination process does not take this long in negotiations that go on for weeks?   The syndicate requests info from the company on expected revenues for 2020 usually at strip prices, then info on costs, capex, general and admin, reserves. etc,etc. Then is just a few days either they extend the line  (usually at a lower level now) in these times or postpone 30 days for Fed involvement and volatile oil pricing issues, but that's it.  The other oil and gas companies went very swiftly, so either something else is going on or you won't hear anything til August, 2nd quarter resuls, like in past years beleive it or not.
Bullboard Posts