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)

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Comment by Khersonon Sep 30, 2020 12:47am

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Post# 31640171

RE:SISP

sollmg wrote: iMO you guys are getting way ahead of yourselves. The original credit amendment was posted 26 Jun, this is the one Nutell tweeted. SGY then released the corporation update a month later, 30 Jul. In that update it was pointed out that SGY paid down 79 million in debt while WTI was at $40. Further indicated that all curtailed production was expected to be back online by Aug. Further pointed out that the return on the Sparky wells is 145% at $40. An additional credit amendment was posted in Aug with the SISP dates removed. Good news is Russel Metals had their loans extended from 2021 to 2023 ,so it is still happening. GLTA

Now that makes more sense!
Thanks,
Kherson

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