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Surge Energy Inc (Alberta) T.SGY

Alternate Symbol(s):  ZPTAF | T.SGY.DB.B

Energy Oil & Gas E&P
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

Surge Energy Inc (Alberta) > Dividend is no longer sustainable
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Comment by Baystboy07on May 05, 2023 10:47am
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Post# 35432878

RE:RE:Dividend is no longer sustainable

RE:RE:Dividend is no longer sustainableYou should read the Q1 FS...cash flow from operations $54 mil. Spent on drilling/ land sales...$44 mil...spent on dividend $11mil....only way he paid down debt is diluting us more by issuing flow through shares of $19 mil.

The results are the results and are based on poor oil price....my problem with Paul is stop with the bull$hit promotion and tell it like it is...

if all his plays are "the best" why did he need to issue more equity to pay down his debt?

https://www.surgeenergy.ca/wp-content/uploads/2023/05/Q1-2023-FS-SEDAR.pdf
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