Surge Energy (SGY) has notable insider buying

Surge Energy (T:SGY)

Paul Colborne, CEO and Director, acquired 46,248 Common Shares on a direct ownership basis at prices ranging from $2.200 and $2.540 through the public market between October 15th, 2018 and October 22nd, 2018. The insider also acquired 7,447 Common Shares on an indirect ownership basis for registered holder Janice RRSP at prices ranging from $2.200 and $2.540 through the public market between October 15th, 2018 and October 18th, 2018. This represents a $124,300 investment into the company's shares and an account share holdings change of 1.2%.

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.