ABOUT SURGE ENERGY INC.
Surge is an intermediate, publicly traded oil firm centered on enhancing shareholder returns via free money stream technology. The Firm’s outlined working technique relies on buying and creating high-quality, typical oil reservoirs utilizing confirmed expertise to boost final oil recoveries.
FORWARD LOOKING STATEMENTS
This press launch comprises forward-looking statements. The usage of any of the phrases “anticipate”, “proceed”, “estimate”, “anticipate”, “might”, “will”, “mission”, “ought to”, “consider” and related expressions are supposed to determine forward-looking statements. These statements contain recognized and unknown dangers, uncertainties and different elements that will trigger precise outcomes or occasions to vary materially from these anticipated in such forward-looking statements.
Extra notably, this press launch comprises statements regarding administration’s expectations and assumptions regarding the anticipated timing of the Redemption Date. The forward-looking statements are primarily based on sure key expectations and assumptions made by Surge, together with expectations and assumptions across the efficiency of present wells and success obtained in drilling new wells; anticipated bills, money stream and capital expenditures; the applying of regulatory and royalty regimes; prevailing commodity costs and financial circumstances; growth and completion actions; the efficiency of recent wells; the profitable implementation of waterflood packages; the supply of and efficiency of services and pipelines; the geological traits of Surge’s properties; the profitable software of drilling, completion and seismic expertise; the dedication of decommissioning liabilities; prevailing climate circumstances; change charges; licensing necessities; the influence of accomplished services on working prices; the supply and prices of capital, labour and companies; and the creditworthiness of trade companions.
Though Surge believes that the expectations and assumptions on which the forward-looking statements are primarily based are cheap, undue reliance shouldn’t be positioned on the forward-looking statements as a result of Surge may give no assurance that they may show to be right. Since forward-looking statements deal with future occasions and circumstances, by their very nature they contain inherent dangers and uncertainties. Precise outcomes might differ materially from these at present anticipated on account of a variety of elements and dangers. These embody, however will not be restricted to, dangers related to the situation of the worldwide economic system, together with commerce, public well being (together with the influence of COVID-19) and different geopolitical dangers; dangers related to the oil and fuel trade on the whole (e.g. operational dangers in growth, exploration and manufacturing; delays or adjustments in plans with respect to exploration or growth tasks or capital expenditures; the uncertainty of reserve estimates; the uncertainty of estimates and projections referring to manufacturing, prices and bills, and well being, security and environmental dangers); commodity worth and change fee fluctuations and constraint within the availability of companies, antagonistic climate or break-up circumstances; uncertainties ensuing from potential delays or adjustments in plans with respect to exploration or growth tasks or capital expenditures; and failure to acquire the continued help of the lenders underneath Surge’s financial institution line. Sure of those dangers are set out in additional element in Surge’s AIF dated March 9, 2022 and in Surge’s MD&A for the 12 months ended December 31, 2021each of which have been filed on SEDAR and may be accessed at www.sedar.com.
The forward-looking statements contained on this press launch are made as of the date hereof and Surge undertakes no obligation to replace publicly or revise any forward-looking statements or info, whether or not on account of new info, future occasions or in any other case, except so required by relevant securities legal guidelines.
For extra details about Surge, go to our web site at www.surgeenergy.ca
