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.

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Surge Energy Inc (Alberta) > Price of oil is up….

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Comment by dllscwbysfnon Jul 10, 2023 8:37am

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Post# 35533294

RE:RE:RE:Price of oil is up….

If it was me and i thought our ceo was an idiot i would simply sell the stock, so why are you here?????

Baystboy07 wrote:
Our CEO is an idiot. Last 4 years...production flat, debt down $100m and share count up almost 50%. Fortunately, with dividends I am about flat, but over about a 4 year period they have been one of the worst performing oil plays. He milks this company like it's his own private business. He has done 4 deals in the last 2.5 years and incurred a bunch of fees and has basically flat production and on top of that he has bloated the share count.

he sits on webcasts and says "I have not diluted in the first quarter" when they issued $20 million of flow through shares to basically pay down debt.

they have a convertible bond coming due and unless oil prices firm up these idiots are probably going to issue more equity because their lenders have them by the balls.

Need any more reasons?