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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 Baystboy07on Jun 09, 2022 6:58am
197 Views
Post# 34742716

RE:Non-core property divestiture

RE:Non-core property divestiture

If Management has read the room they will return the money to shareholder via debt pay down or an NCIB...no more drilling and acquisitions until debt way down and buybacks starting!!!

shareholders have suffered long enough with a stock price still below multi year highs compared to others.

GLTA


red2000 wrote: Interesting !!!

https://boereport.com/2022/06/07/surge-energy-inc-non-core-property-divestiture/

The Sproule Report is effective December 31, 2021 using Sproule’s December 31, 2021 forecast pricing. Sproule estimates that, as of December 31, 2021, the Properties contained remaining proved plus probable reserves of 8.7 Bcf of natural gas and 2.8 million barrels of oil and natural gas liquids (4.3 million boe), with an estimated net present value of $48.1 million using forecast pricing at a 10% discount.

May use the cash for more CAPEX or made a new acquisition !!?

Any suggestions !!?





 

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