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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 geezer21on May 27, 2022 3:25pm
192 Views
Post# 34713118

Iran Seizes 2 Green Oil Tankers in Retaliation

Iran Seizes 2 Green Oil Tankers in Retaliationhttps://www.zerohedge.com/geopolitical/irgc-operatives-seizes-2-greek-tankers-persian-gulf-retaliation-us-taking-iranian-oil

Iran Seizes 2 Greek Tankers In Gulf As Retaliation For US Taking Oil

by Tyler Durden
Friday, May 27, 2022 - 12:36 PM

Iranian military operatives have seized two Greek oil tankers in the Persian Gulf on Friday. The Associated Press initially reported that the US Navy is "looking into" the reports. The tankers were boarded in international waters in the gulf, with the AP in follow-up saying that IRGC operatives now have control of the ships.

The IRGC has announced it is in possession of the seized vessels, with Bloomberg reporting, "The Guard's announcement comes as tensions remain high between Iran and the West over stalled negotiations regarding its rapidly advancing nuclear program." And more according to the AP:

The Guard issued a statement on its website, accusing the unnamed tankers of unspecified violations.

Greece’s Foreign Ministry said Iranian authorities “violently took over” the two ships in an “act of piracy.”

Delta Poseidon, via Lloyd's List

Industry monitor Lloyd's List maritime intelligence describes that its "sources confirmed that in two seemingly similar operations the suezmaxes Delta Poseidon (IMO: 9468671) and Prudent Warrior (IMO: 9753545), both under Greek flag, were approached by Iranian helicopters on Friday afternoon."

"They were both boarded by military personnel and later escorted by naval vessels from international traffic lanes to Iranian waters a few miles off the coast," the report continues.

Earlier in the day Tehran threated "punitive measures" after the United States seized a Russian flagged tanker transporting Iranian oil off Greece.

Iranian sources stated following the tanker seizure in the Mediterranean, "The Islamic Republic has decided to take punitive measures against Greece after it seized an Iranian tanker and let the US government confiscate its crude oil, Nour News, affiliated to Iran's Supreme National Security Council, reports."

developing...

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