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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 Carjackon Mar 28, 2024 6:27pm
196 Views
Post# 35959288

U.S. Opposes Pakistan-Iran Gas Pipeline Project, Warns of Sa

U.S. Opposes Pakistan-Iran Gas Pipeline Project, Warns of Sa

(Reuters) — The U.S. said on Tuesday it does not support a Pakistan-Iran gas pipeline project from going forward and cautioned about the risk of sanctions in doing business with Tehran.

Why It Is Important

The Pakistan-Iran gas pipeline, known as the Peace Pipeline, is a long-term project between Tehran and Islamabad, and has faced delays and funding challenges for several years. The pipeline would transport natural gas from Iran to neighboring Pakistan.

RELATED: Editor’s Notebook: ‘Peace Pipeline’ Project Appears Dead

Iran and Pakistan had signed a five-year trade plan in August 2023 and set a bilateral trade target at $5 billion.

Pakistan's Petroleum Minister Musadik Malik said this week that his country was seeking a U.S. sanctions waiver for the gas pipeline from Iran.

Key Quotes

"We always advise everyone that doing business with Iran runs the risk of touching upon and coming in contact with our sanctions, and would advise everyone to consider that very carefully," a U.S. State Department spokesperson told reporters in a press briefing.

"We do not support this pipeline going forward," the spokesperson added, saying that Donald Lu, the State Department's top official for South and Central Asia, had said as much to a congressional panel last week.

Context

A few weeks ago, Pakistan and Iran engaged in tit-for-tat strikes when they exchanged drone and missile strikes on militant bases on each other's territory.

Washington's relations with Iran have been thorny for a long time and the U.S. has issued multiple rounds of sanctions on Iranian entities.

Officially allies in fighting extremism, Pakistan and the U.S. have had a complicated relationship over the years, bound by Washington's dependence on Pakistan to supply its troops during its long war in Afghanistan but plagued by accusations Islamabad played a double game.

Some Pakistani politicians have also accused Washington of meddling in Pakistan's domestic politics, charges that Washington denies.

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