Reply to the haters aka soundandfury I feel like you are really bitter, you obviously sold your shares at a discount and lost out. But I'm not going to waste my time refuting all your lies. I do think that you should get off this chat or buy Surge shares.
Let me just say Mount Bastion was a asset they bought and unfortunately oil prices started to collapse after buying the asset, which is why they could not raise their dividend like they anticipated. I don't know if they drilled more wells there or not, but I'm sure they were waiting for oil prices to rise. Anyhow they are not playing the short game but the long game.
Facts are is that they made it through the crazy oil price crash and all the turmoil leading up to it when many didn't AND did it after buying a valued asset (mount bastion) YET were still able to pay down debt, so I don't know what you are talking about. I agree it was hard but they made it through, when many did not and now they are rolling again the have many valued assets that in the future they can start drilling more wells and can really increase production. If companies aren't buying assets then they will not be growing and they will be stagnant in the future.
A business doesn't grow over night if you want a quick payout maybe try crypto. Paul has been slowly building up assets for the right time to start drilling, they have a huge asset base now. The last 7 years Canada's oil price has been low but now we see something different and the fundamentals are changing. Rather than waste those assets on low oil prices Paul has been patiently waiting buying up assets. Just watch they will be drilling and increasing production strategically, they have a storehouse of prime assets to drill on.
During the worst time in the Canadian Oil Patch in history Surge still paid down debt after a double swan event! Their smart hedges saved them.
Here is a video that proves it:
https://www.bnnbloomberg.ca/commodities/video/surge-energy-slashes-dividend-amid-low-oil-covid-19-fallout~1923356
Anyhow your accusations are slanderous. You need facts to back up what you say and anyone who has followed surge for the past 7 years knows the truth. So stop with the half truths.
Just look at their latest presentation to see the torque they have.