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Surge Energy Inc (Alberta) T.SGY

Alternate Symbol(s):  ZPTAF | T.SGY.DB.B

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

Post by pennydredfulon Jan 28, 2022 6:24pm
368 Views
Post# 34373381

Nuttal makes the same mistake as Warren Buffet bails to soon

Nuttal makes the same mistake as Warren Buffet bails to soonA couple of years ago Buffet provided back up liquidity financing to Home Capital savings and loan mortgage lender . As part of the deal he got 19.99% of the shares at a discounted price of 10 per share when book value was about 25. Within 6 months the back up liquidity was replaced with conventional  financing. Shortly after that  the co. made a substantial bid for 30% of their shares
at 16 per share which Buffet accepted even  thought  this boosted the book value  to  30. Within in a year  the shares  rose  to about 43 as the company was reporting substantial profits  and book value was soaring.  So  while Buffet  made a nice short term profit , he left  alot more on the table than he made. 
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