RE:RE:RE:RE:Surge Energy!downtozero wrote
Adjusted funds flow last quarter $27,804,000. Total exploration and development expenditures $33,932,000. Which makes total Free Cash Flow (-6,128,000). Which means, outside of all the numbers games and buying companies with stock dilutions, Surge lost over $6M last quarter when oil averaged above $80 USD. Equity will change as the oil changes, cash made verus cash spent is what's keeping SGY down.
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To the $6 million loss last quarter you have to add the hedging losses which will soon be gone as the hedges roll off of over $23 million last quarter which would have resulted in a positive Free cashflow of aprox. $17 million last quarter.
SGY recieved $74 Cdn. for their oil last quarter excluding the hedges which is around $61 US.
With the hedges gone soon and oil over $80 not the $61 they recieved in the last quarter if oil stays around the $80 mark SGY will have Free cashflow of aprox. $160 million per year.