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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 Baystboy07on May 03, 2023 10:17pm
284 Views
Post# 35429074

Quarter was garbage…

Quarter was garbage…Basically issued 1.9 million flow through for $19 mil proceeds...payed down about $13 mil is debt and had some non cash working capital changes...

Cash from ops was $55mil but $44 mil was spent on drilling...

so in totality free cash flow was $11 million

they are taking it up the a$$ with the new acquisition

Paul needs to be turfed!!!

dude keep building barrels but can't pay down the damn debt and keeps diluting us.

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