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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

Comment by fortunefavorsuson Feb 02, 2022 12:32pm
207 Views
Post# 34389519

RE:Payoff debt & Investors will come

RE:Payoff debt & Investors will comeI do think they should have a goal the next couple of years of paying off all lines except the 130 million new credit line. I guess the new credit line has prepayment penalties but does not have restrictions on the company.  After 5 years they should be able to refinance at significantly lower rate.  As Colborne said they can still pay a 30 to 40 million dividend on top of that goal at $75 oil.
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