22% Oil Production Boost & RECORD Q1 Numbers for Surge Energy!

TSX: SGY | Paul Colborne, Surge Energy President & Chief Executive Officer, and Jared Ducs, Chief Financial Officer, discuss their first quarter and the ERF3850 acquisition completed late last year.

Surge Energy Website: https://www.surgeenergy.ca/
Surge Energy Corporate Presentation: https://www.surgeenergy.ca/investors/...
Surge Energy News Releases: https://surgeenergy.mediaroom.com/

Surge produces ~25,000boepd, 87% levered to oil in two of the most economic plays in Canada; the Sparky in Alberta and Frobisher and Midale in Saskatchewan. The company boasts a low decline rate of 23% which requires only $175M of capex to remain flat while expecting a cash flow of $335M for 2023. Their $0.48/ year dividend is paid monthly. Given their free cash flow, they can increase their dividend or offer share buybacks as they reach debt repayment milestones.

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