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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 zack50on May 12, 2022 7:13pm
276 Views
Post# 34679831

RE:RE:RE:RE:RE:Dividend is back

RE:RE:RE:RE:RE:Dividend is back
GABY51 wrote: RTABLIR  ET  PAYABLE  PAS  LA  MEME  CHOSE...A  COMBIEN  TU  DIS  0.035 BY  SHARE...


Gaby, I'm not sure how they can "resume", "restore" or "reinstitute" the dividend without "paying" the dividend. Obviously my French is not good enough for you, so I'll go back to English... this is my last attempt to help you... may I suggest you do your own due diligence from now on.

Btw, it's stated as their "intent to reinstitute a base dividend" because it's in the future! This from their May 5th news release...


INTENT TO REINSTITUTE BASE DIVIDEND ON JULY 15, 2022

With crude oil prices now in excess of US$100 WTI per barrel, which is significantly above the Company's US$85 WTI guidance price for crude oil in 2022, Surge is pleased to announce its intention to resume its base cash dividend distribution, payable on a monthly basis.  

At current strip commodity prices for crude oil and natural gas, Management projects that Surge's net debt target range will be achieved during Q3/22. On this basis, the Company anticipates reinstating its base annual cash dividend expected to be $0.42 per share (3.5 cents per month), payable on July 15, 2022 to holders of the Company's common shares ("Common Shares") of record at the close of business on June 30, 2022. Any anticipated dividend payment will be subject to the approval of Surge's Board of Directors at the time of declaration.

 

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