Nov 21st Webinar (Surge Energy) link to replay

[dan_s]

https://www.youtube.com/watch?v=Nnaj4Cbex9o

Surge Energy will be added to the Sweet 16 in 2024.
> Current production of ~25,000 Boepd (up from 24,108 Boepd in Q3), ~84% crude oil.
> Crude oil sales accounted for ~98% of the Company's revenues in Q3.
> Strong quarter-over-quarter production growth will be reported in Q4 and Q1 (based on their completion schedule)
> Very strong "Running Room" with over 1,000 high-quality development drilling locations.
> Pays dividends of $0.04/month for annualized yield of 5.85% < If WTI averages more than $70US/bbl, Surge will increase dividends in 2024 and 2025. I expect their dividends to double to $0.08/month by mid-2025.

My updated valuation is $16.33Cdn, which translates to $12.00US per share. < Raymond James's current price target is $10.25USD per share.

My updated forecast/valuation model has been posted to the EPG website.