Surge Energy Inc (Alberta) T.SGY

Ninepoint Partners Out

[uwebb429]

Ninepoint Partners unloaded their entire 9.5M shares of SGY into the market during Q4. 

https://stockhouse.com/companies/ownership?symbol=t.sgy

And no, SGY has not been in free fall for six months. SGY peaked three months ago at $9.77 on November 2nd. The drop in the price of WTI from $93 to $73 and AECO natural gas under $1.80 during the middle of winter is the main reason for the sell off of most Canadian oil and gas companies during the last few months. The unloading of 9.5M SGY shares in a couple of months helps explain the rest of the recent share price drop since November.

If Paul and his team can drill some more 300 boe/d wells in SE Saskatchewan, SGY will head higher when the price of oil rebounds this summer.

[harvester]

Be nice to see Eric Nutall has made a huge mistake. Here's hoping. Glta

[tylerreddick]

Never trust that Ninepoint twirp.

[PreludeSH]

He lost a lot of money for his fund...his average cost was around 9.25 with that bought deal.

[Al42]

Looks like he bought Precision Drilling in the low 70 dollar range with the proceeds and it is now over 87 dollars. He started selling surge around November in the high 7 dollar range and probably got rid of the rest around $6.50 ish. Not a bad switch.

[Baystboy07]

Probably sold because these smooth brains running this company would not listen to him. Idiots had ONE major institutional investor and they screwed that up. 

[tylerreddick]

Why would they listen to that twirp?

[Carjack]

Last I heard he wanted 50% of their fcf. We'll found out at earnings.

[harvester]

If he wanted 50% of fcf I'm glad he left.

[Baystboy07]

Negative 43% return over the last 5 years and negative 88% over 10 years under Paul's leadership. So tell me WTF is Paul doing right? He should be FIRED!!!!

[lnggasfor202324]

I told you theres something fishy going on here.  This sure seems like a promo job.