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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

Post by soundandfuryon Sep 05, 2021 5:34pm
434 Views
Post# 33815888

Sgy business model has been a total failure

Sgy business model has been a total failureTheir business model of growing production by aquisition is a total failure...........over last three years sgy has spent 480 million dollars in cash , debt, and equity to acquire two private equity firms to keep production flat........now they say they have two core area's ....one in se sask and the sparky.........this means that the greater sawn asset that paul spend 320 million to aquire in oct 2018 is not even considered a core area for the company........why did he spend so much to acquire an asset that is not even worthy to be called a core area?..........anyhow sgy trying to grow through aquisitions has been a total disaster for sgy imho
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