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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

Comment by Theconsortmanon Mar 05, 2021 10:47am
153 Views
Post# 32727654

RE:Remember the silly guy who sold at 15 cents?

RE:Remember the silly guy who sold at 15 cents?
pointer wrote: And then bashed the company?

Ooooops! :o)



That was me Pointer. I  claimed the Capital loss and rotated the money into Whitecap the same day so I am feeling just fne and collecting a dvidend. I still have a few thousand shares in a RESP of one of my kids so have been watching SGY. The asset they sold was Sparky which is interesting because they didn't appear to specifically say that. Can't argue with the buy/sell numbers (look good) though but they may be a little promotional (the drilling BOE is going to be flush production while the sell stuff is further along in the production profile). SGY has been under a lot of pressure by their debt holders to sell some assets. I guess TVE doesn't know what they are doing since they picked up the Surge stuff?  There appears like there was a lot of upside left in the asset they sold but they had to do what they had to do and hats off to them.
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