Surge Energy Inc (Alberta) T.SGY

Re: Hedges

[soundandfury]

That is exactly correct........imo sgy debt covenents were breached and sgy debt holders literally held sgy continued existence in their hands..............if this is correct then i do feel that shareholders should have been told ...........i believe that the debt covenent that was breached was total assets/ total liabilities .....must never fall below 1: 1 ratio..........i also believe that even if the banks did not foreclose the convertible debenture holders still could have demanded their money 70 million (which would have resulted in bankruptcy)

[ppp]

Come on guys and girls SF, thats old news. We all know SGY was on the ropes, but fact is they made it. What one needs to look at is the here and now and the future. And some questions need to be answered. Like 120 mil Capex for 22  What is their exit production giong to be. How do they plan on spending the money. They only need 5000 bbls to stay flat. and in q1 they brought on 3400 bbls for

[ppp]

Question is, what about the other 50 mil. ARO?  or is paul being conservative, to blow the results out of the water at the end of 22, Very interesting story IMO.