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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) > Blow out quarterly results! Big day coming tomorrow.
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Post by JohnMayeron Jul 29, 2021 4:46pm
276 Views
Post# 33627226

Blow out quarterly results! Big day coming tomorrow.

Blow out quarterly results! Big day coming tomorrow.Unreal.... get ready for a big move tomorrow.

Net Income for the QUARTER is $0.85!!! While share price is $0.56?  Is that a typo?

"Based on the above, with oil prices currently trading over US$73 per bbl, the Company now anticipates Surge's exit 2022 net debt to annualized Q4/22 adjusted funds flow2 will be 0.8x at US$70 per bbl, and 0.6x at US$75 WTI per bbl pricing. Additionally, at these price levels, Surge now anticipates generating $110 to $140 million in free cash flow in 2022 alone."

Free cash flow yield is projected to be 37% for 2022.  If this is true, here comes a share buyback and reinstatement of the dividend imo.


https://stockhouse.com/news/press-releases/2021/07/29/surge-energy-inc-announces-second-quarter-financial-operating-results

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