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) > Should payoff debt first

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Comment by PUNJABIon Jan 18, 2022 10:12am

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Post# 34328092

RE:RE:RE:RE:RE:Should payoff debt first

It will be another disaster for the long-term shareholders if he does another dilution at these low prices. He did massive dilution at rock bottom prices of $.59. Issued 38.9m shares for $23m.and then he did a reverse split of 8.5 something an amateur CEO would do. Now pre-split the share price is around $.79. Because of his gross mismanagement, the stock has not yet recovered.

Now if he does another financing at these rock bottom prices then the shareholders should ask for his registration. He is no longer investor-friendly based on the last dilution and reverse split.

Maybe he might get a better price by selling the company and getting a fair price for the shareholders before he recks it again. You cannot ignore his track record.

Look at the short position it also shows the changes in the number of shares.

Short Positions for SGY

Symbol	Report Date	Volume	Change	Shares Issued	% Float
T : SGY	2021-12-31	342,981	19,947	83,357,221	0.41
T : SGY	2021-12-15	323,034	32,213	83,357,221	0.39
T : SGY	2021-11-30	290,821	-51,137	83,357,221	0.35
T : SGY	2021-11-15	341,958	64,673	83,355,987	0.41
T : SGY	2021-10-31	277,285	188,187	83,355,987	0.33
T : SGY	2021-10-15	89,098	-10,163	71,599,338	0.12
T : SGY	2021-09-30	99,261	-39,191	71,599,338	0.14
T : SGY	2021-09-15	138,452	17,807	71,599,338	0.19
T : SGY	2021-08-31	120,645	-434,487	71,599,338	0.17
T : SGY	2021-08-15	555,132	-112,237	608,594,375	0.09
T : SGY	2021-07-31	667,369	302,135	379,594,375	0.18
T : SGY	2021-07-15	365,234	68,049	379,194,375	0.10
T : SGY	2021-06-30	297,185	34,842	379,194,375	0.08
T : SGY	2021-06-15	262,343	-291,676	379,194,375	0.07
T : SGY	2021-05-31	554,019	77,384	379,194,375	0.15
T : SGY	2021-05-15	476,635	-4,184,489	378,769,739	0.13
T : SGY	2021-04-30	4,661,124	573,333	339,784,739	1.37
T : SGY	2021-04-15	4,087,791	-166,396	339,784,739	1.20
T : SGY	2021-03-31	4,254,187	3,943,028	339,784,739	1.25
T : SGY	2021-03-15	311,159	-106,955	339,784,739	0.09
T : SGY	2021-02-28	418,114	-51,768	339,784,739	0.12

Fundamental Data - SGY

Security Type	Equity
Shares Issued	83,357,221
Market Cap	545,990,000
Year High	6.79
Year Low	2.507
Annual Earnings/Share	6.46 CAD
P/E Ratio	1.01
Annual Dividend/Share
Annual Dividend Yield
Ex-Dividend Date	2020-03-30
Sector	10102010 - Integrated Oil & Gas