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Strategies & Market Trends : Dino's Bar & Grill -- Ignore unavailable to you. Want to Upgrade?

To: Goose94 who wrote (52790)	1/25/2019 6:00:19 PM
From: Goose94	Read Replies (1) \| Respond to of 202700

Surge Energy (SGY-T) (revisited) top pick from Josef Schachter on BNN.ca Market Call Thirst-day Jan 24th @ 1200ET Surge announced on Jan. 11 a reduced spend to $135 million from $160 million due to the current lower commodity prices. They forecast average production of 22,000 boe/d in 2019 and an exit rate of 23,000 boe/d. They’re using US$52 per barrel for their commodity forecast. We see their dividend of 10 cent annually or $0.8333 cents per share monthly as sustainable. With our more optimistic outlook for WTI, we see cash flow at $250 million and CFPS at $0.81 in 2019. Our volume forecast is for average production of 24,075 boe/d (85 per cent liquids) with an exit quarter of 25,000 boe/d. We continue to buy shares of Surge on weakness. We believe that they may consider raising their dividend once again in late 2019. The current yield is 7.4 per cent.