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.

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Surge Energy Inc (Alberta) > CEO Paul Colborne thinks Raymond James $12 target is Right

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Comment by CanadianOil2022on Dec 29, 2021 7:10pm

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Post# 34269353

RE:RE:CEO Paul Colborne thinks Raymond James $12 target is Right

CEO Paul Colborne said $300,000,000`in 2022 Cashflows at $80 Raymond James says $12/share target.Surge's upwardly revised exit 2021 and preliminary 2022 guidance is reconfirmed as follows:

Guidance	@ US $70 WTI*	@ US $75 WTI*	@ US $80 WTI*
Exit 2021 production	21,500 boepd (86% liquids)
Average 2022 production	21,500 boepd (86% liquids)
2022 Exploration and Development Capital Expenditures	$120 million
2022 Adjusted funds flow ($MM)	$245	$270	$295
Per share	$2.94/share	$3.23/share	$3.53/share
2022 Cash flow from operating activities ($MM)	$230	$255	$280
Per share	$2.76/share	$3.05/share	$3.35/share
2022 Free cash flow ($MM)4	$110	$135	$160
Per share	$1.32/share	$1.62/share	$1.92/share
2022 All-in payout ratio4	52%	47%	43%
2022 Net debt to annualized Q4/22 adjusted funds flow4	0.7x	0.6x	0.5x