Surge Energy - New target priceMade by Shubham Garg on you tube !!!
Now, he use Net Assets Value, without Nat gaz, roughly 15% of reserves
https://www.youtube.com/watch?v=tMR5lkmCt2k&ab_channel=ShubhamGarg
23,39$ per share with FCF model. 100$WTI 5,50$ Aeco price ! 1h.17 min.
Without Q2 hedges for Q3 == 26,94$/Sh.
Without the rest of 2022 hedges == 31,44$/Sh.
on every 10$ UP of WTI === +7$ per share !!!
To compare with Surge forecast, see below, Surge presentation May 2022, page 5 :
https://www.surgeenergy.ca/wp-content/uploads/2022/05/May_Corp_Pres-Q1-Final.pdf
Base on NAV (Proved + Probable) at 85$WTI
All pricing variables include differentials: WCS US $13.00; EDM US$3.50, AECO $3.25, $0.79 FX CAD/USD
Forecast price so far : 27,30$ per share !
Please do your DD, it's your money !