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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 blackdogon Jun 24, 2021 8:24am
240 Views
Post# 33440314

RE:SGY have a very tiny short position.

RE:SGY have a very tiny short position.The bi-weekly final position report belies how much churning has been going on. Your chart of this data shows that the short position drops by 4.2M shares at mid-May; goes up a bit at end month, and is tapering off again by mid-month. But combine this with the data in the corresponding short sale reports.  From mid-May until mid-Jun the volume of short trading (both selling and covering) to arrive at the end state position numbers was huge: almost 7 in 10 shares of the TMX volume of 27M shares traded was this trade of the washing among the short sellers. Something that was a significant factor in keeping the stock price bound. 
 
OTC daily short data (wish Canadians could be trusted to see similar; rather than be limited to the bi-monthly snapshots) suggests that this pace was sustained; and there was still short selling of Surge on the OTC yesterday!

With the current market, and after this week's news, the end of the month data will be very interesting.



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