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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 terroiron Jul 29, 2021 5:43pm
159 Views
Post# 33629668

RE:Very disappointing production numbers

RE:Very disappointing production numbersReading through these posted reactions to the quarterly results always reminds me of the old men in the balcony at the Muppets Show. 

The lower production numbers were largely a result of asset/production sales.

The key is free cashflow, that's what is used to pay down debt, and eventually reinstate the dividend. On that front the forecast is quite positive.

But, if I have learnt one thing, only the market reaction tomorrow counts. And, even there I have seen initial reactions be completely blown apart by end of the firt trading day.
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