Surge Energy (SGY) has notable insider buying

Surge Energy (T:SGY)

Surge Energy Inc. (SGY) has a high amount of executive buying compared to its mid-cap peers over the past three months. Paul Colborne, CEO and Director, acquired 26,166 Common Shares on a direct ownership basis at prices ranging from $2.245 and $2.370 through the public market between June 15th, 2018 and June 18th, 2018. The insider also acquired 1,754 Common Shares on an indirect ownership basis for registered holder Colborne Family Trust at a price of $2.370 through the public market on June 15th, 2018. The insider also acquired 2,196 Common Shares on an indirect ownership basis for registered holder Janice RRSP at a price of $2.370 through the public market on June 15th, 2018. This represents a $68,625 investment into the company's shares and an account share holdings change of 0.7%.

Surge Energy Inc is a Canada-based exploration and production company (E&P). The Company is positioned to provide shareholders with long term sustainability by exploiting its assets in a financially disciplined manner and by acquiring additional long life oil and gas assets of a similar nature. Its assets are comprised primarily of operated oil-weighted properties characterized by a promising original oil-in-place (OOIP) crude oil reservoirs with low recovery factors and an inventory of around 700 gross low risk development drilling locations and several water flood projects. The Company continues to identify and pursue acquisitions with synergistic characteristics such as existing long life producing assets or opportunities with low risk upside potential.