Surge Energy Inc (Alberta) T.SGY

divvy

[itsalie]

anyone expect them to announce a divvy when they report today?

[JohnnyWang]

I believe they report tomorrow. I do not foresee a divvy being announced until Q1 numbers are released. 

[zack50]

PC has indicated that May is the likelihood timeframe for the dividend, but you never know! Btw, Surge anticipates press releasing the Company’s Q4 Operating Financial results as well as year-end reserves on March 9th, after market.

[fortunefavorsus]

If oil prices hold up a few more weeks April pricing for WTI is well over $100.  So it is likely they are near their debt target at the end of April.  Should be no problem to say dividend starts in May given the reduced capex for the second quarter.  They have more than made that extra amount for the dividend with the exceptional high pricing this month.

[Binkie]

Surge forecasted to generate 130m fcf at $75 oil , so 11m per month. and at $100 oil, it would be 240m or $20 million per month.  So in past 6 weeks, they should be up 30m in fcf over forecast, which moves the debt target needle by about 3 months, if they apply those funds to debt, which I think they are. They had forecast to hit debt target BEFORE mid year, July 1, minus 3 months (the