RE:RE:RE:RE:RE:RE:RE:RE:Is this thing going to miss the rally altogether? I think someone has mentioned this previously, but IMHO Surge is being held back by a few things: 1. a large hedge book that's under water. With hedges rolling off in the next few qtrs (I believe in Q1 2022 they have 4k bbls hedged and perhaps some gas) cashflow will be positively impacted See pages 17/18
PowerPoint Presentation (surgeenergy.ca) 2. They are somewhat subject to pricing differentials from wti 3. share price under a buck doesn't help and a rather large float.
All in all, admittely this thing has been a dog compared to other names, but I do think you will see the name rebound like other oil juniors once some of the hedge book is cleared up.
.42/share fcf in 2022 (6 months from now) at $65 WTI and we all know where that's trading. Maybe she's just late to the party. The CEO likes returning capital to shareholders, and he is a shareholder so to see dividends re-instated at some point is not ludicris if the company is flowing cash.
tldr: it could be anything really but hedges aren't helping.