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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 CanadianOil2022on Sep 23, 2022 7:50am
263 Views
Post# 34981109

SURGE ENERGY CASHFLOW Machine Pays off $44.5 M

SURGE ENERGY CASHFLOW Machine Pays off $44.5 M.SURGE Energy BEST CASH pays off 44.5 million and higher DIVIDENDS soon 
CALGARY, ABSept. 22, 2022 /CNW/ - Surge Energy Inc. ("Surge", "SGY", or the "Company") (TSX: SGY) is pleased to announce that it is issuing a notice of redemption to holders of its currently outstanding $44,500,000 5.75% Convertible Unsecured Subordinated Debentures due December 31, 2022 (the "Debentures"). The Debentures are not subject to a pre-payment penalty.

SURGE ENERGY INC. ANNOUNCES NOTICE OF REDEMPTION OF 5.75% CONVERTIBLE DEBENTURES (CNW Group/Surge Energy Inc.)

As set out in the notice of redemption, Surge will redeem, as of October 28, 2022 ("Redemption Date"), all of the aggregate principal amount of the Debentures for cash. On the Redemption Date, Surge will pay the aggregate principal amount of the Debentures (being $1,000 for each Debenture) plus all accrued and unpaid interest thereon to but excluding the Redemption Date (less any tax required to be deducted) (collectively, the "Redemption Price"). The Debentures are listed on the Toronto Stock Exchange (the "TSX") under the symbol "SGY.DB" (CUSIP 86880YAA7).

In accordance with the terms of the indenture governing the Debentures, holders of the Debentures have the right to convert their Debentures, at their option, into common shares of Surge ("Surge Shares") at a conversion price of approximately $23.23 per Surge Share at any time prior to 5:00 p.m.Calgary time on October 27, 2022. A holder electing to convert the principal amount of their Debentures will receive approximately 43 Surge Shares per $1,000 principal amount of Debentures converted plus a cash payment for accrued unpaid interest up to, but excluding, th

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