Today, we look at light- and medium-gravity crude oil focused Surge Energy Inc.
Over the past 3 months, chief executive Paul Colborne has spent $415,343 buying shares in the public market. This comes as the company has been buying back shares and increasing cash flow.
Fourth-quarter adjusted funds flow was 14 cents a basic share, up from 10 cents a year earlier. Fundamentals may now be catching the eyes of investors. The stock closed above its 200-, 50-, and 20-day moving averages on April 10 and has remained above since.
Ted Dixon is CEO of INK Research which provides insider news and knowledge to investors. For more background on insider reporting in Canada, visit the FAQ section at www.inkresearch.com. Securities referenced in this profile may have already appeared in recent reports distributed to INK subscribers. INK staff may also hold a position in profiled securities.
Chart reflects public-market transactions of common shares or unit trusts by company officers and directors.
Ted Dixon