Sunday, 20 March 2016

Surge Energy 4th Quarter 2015 results

Surge Energy announced their 4th Quarter 2015 results, which can be found here.

When it came to the collapse in oil prices, I largely lucked out. Prior to the crash, I'd sold a lot of my oil holdings at a gain, and was looking for somewhere else to put them. I scattered it throughout my assets, but wanted to hold on to some energy assets. I looked for solid producers that could whether a downturn. I picked Prairie Sky Royalty (TSE:PSK) and Surge Energy (TSE:SGY).

Unfortunately, I held on to a speculative asset as well that cratered and went bankrupt. Those things happen. However, the remaining two energy assets I'm more than happy to hold on to, and Surge Energy's latest results demonstrate why. In a challenging environment, they are holding on and rewarding shareholders for doing so. With the recent upswing in prices for oil, it's likely their 1st Quarter for 2016 will be significantly improved.

No comments:

Post a Comment