Post by
harvester on Apr 04, 2024 8:41pm
9points
Lost out over $3 since their sale? Lol
Comment by
Baystboy07 on Apr 05, 2024 7:27am
You realize he redeployed into Precision Drlling that is up 50% since the time he disposed of Surge right? So maybe he is a little smarter than you think.
Comment by
harvester on Apr 05, 2024 9:36am
He's got sour grapes on Surge.
Comment by
harvester on Apr 05, 2024 9:50am
I recall him averaging around $9 when he owned surge. Selling at an av. of $4.90 is a 45% haircut. Not great
Comment by
Baystboy07 on Apr 05, 2024 10:10am
52 week low is $6... not sure what chart you are looking at to see $4.9. If you gonna post garbage at least do make stuff up. Volume spike was late November into December. That is when he unloaded. You can see it on the chart. He was selling all the way down from $9 to $6.
Comment by
harvester on Apr 05, 2024 10:31am
Ninepoint Partners LP 6,406,500 sold 31,343,238.96 valuation
Comment by
Baystboy07 on Apr 05, 2024 11:42am
Does not seem to be a link attached
Comment by
harvester on Apr 05, 2024 12:08pm
Makes sense. My bad then.
Comment by
Baystboy07 on Apr 05, 2024 1:12pm
It was very telling the Eric basically said $SGY is just not big enough to be relevant. He said this on BNN. This make you wonder why he bought in the first place. My view is to see if he could force management to merge with another to make them relevant. I am betting the management team of $sGY refused and then Eric said FU and sold.
Comment by
ditchdigger251 on Apr 05, 2024 1:28pm
I see it that way too. I've experienced heavy handed boardroom politics from a major investor so I can easily believe that bullying was attempted. Good on mgmnt for standing up to an institutional investor. It avoided some big boy games I think many here have seen before.
Comment by
Baystboy07 on Apr 05, 2024 3:18pm
We would have been better off in a bigger company and with Paul not at the helm.
Comment by
ditchdigger251 on Apr 05, 2024 3:28pm
That will come I think at these higher oil prices. Getting their debt target behind them this year will be great to see.
Comment by
Franman184 on Apr 05, 2024 5:25pm
Eric also mentioned about drilling 100 barrel a day wells with out naming surge and saying he had better places to invest. But give surge credit in that those wells payout in about a month and are very low decline.
Comment by
lnggasfor202324 on Apr 06, 2024 8:29pm
I find that hard to beleive the wells pay off in a month. The clkearwater doesn't even pay off that quick. I don't think the trans mountain pipeline will help Surge much because they are mainly light oil.
Comment by
Franman184 on Apr 07, 2024 5:01pm
Surge's disciplined operating strategy involves focusing growth and development capital to high netback, low cost, light and medium gravity crude oil reservoirs, that possess large original oil in place ("OOIP")1 and low recovery factors.
Comment by
Franman184 on Apr 07, 2024 5:06pm
Sorry - months not years. Surge’s top tier FCF yield takes into account its high netbacks (>$40/boe), low annual corporate production decline (25%), and quick well payouts (<10 months) at Sparky and SE Saskatchewan.
Comment by
lnggasfor202324 on Apr 07, 2024 6:29pm
25% is high Cardnals is less then 10% with a lot less debt.
Comment by
ditchdigger251 on Apr 07, 2024 8:04pm
ALSO should take into account that much of SGY's EOR potential from waterflood + further tertiary does not appear to be yet booked - and from what I heard on the last earnings call that could double (or more) their current Proved bookings AND substantially reduce the corporate decline rate. This point seems to be often overlooked but I believe is a cornerstone of future value growth.