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) > Sgy had $105 million revenue in q3

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Comment by pppon Nov 14, 2021 6:45pm

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Post# 34125344

RE:Sgy had $105 million revenue in q3

Thats BS their debt increased because they took over Astra

During the three months ended September 30, 2021, the Company acquired all of the issued and outstanding common shares of Astra in exchange for the issuance of 26,928,394 common shares of Surge with an assigned value of $90.0 million and the assumption of $29.3 million of debt acquired. More details on the acquisition can be found in Note 4 of the financial statements.

Capex was 31 898
CF 26263

Shortfall 5635 mil

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