Surge Global Energy, Inc. (SRGG) news stock charts
Surge Global Energy, Inc. (SRGG/SRGG.OB) Investment Summary:
Surge Global Energy, Inc., a development stage company, together with its subsidiaries, engages in the acquisition, exploration, and development of oil and gas properties in Canada. The company, formerly known as The Havana Group, Inc., was founded in 1997 and is based in Solana Beach, California.SURGE GLOBAL ENERGY INC (SRGG:OTC Bulletin Board Market)
Snapshot of SURGE GLOBAL ENERGY INC (SRGG)
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OPEN
$0.14
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PREVIOUS CLOSE
$0.14
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DAY HIGH
$0.14
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DAY LOW
$0.14
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52 WEEK HIGH
03/12/10 - $0.18
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52 WEEK LOW
03/19/09 - $0.02
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MARKET CAP
4.4M
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AVERAGE VOLUME 10 D
40.7K
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EPS TTM
$-0.07
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SHARES OUTSTANDING
31.4M
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SRGG Does Not Pay Dividends
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P/E TTM
--
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| K = Thousands M = Millions B = Billions | ||
Key developments for SURGE GLOBAL ENERGY INC (SRGG)
Surge Global Energy, Inc. announced that on February 19, 2010 Jeffrey Bernstein, Barry Nussbaum and Kenneth Polin resigned from directors of the company.
Surge Global Energy, Inc. announced that it has acquired a 75% working interest in four, and up to ten, existing oil and gas wells which had been drilled, and were producing previously, on a 40-acre lease in Pawnee County, Oklahoma for $300,000 under a purchase and equipment lease agreement with Mandalay Energy Resources, LLC. The terms of the agreement provide for the funds to be paid directly to Cavu Resources, Inc. under a turnkey contract to be used for rework and new equipment on the four oil and gas wells. The rework and equipment costs will be repaid to Surge in monthly installments of 75% of net income received from oil and gas purchaser each month up to a total of $40,000 per month until a total of $354,000 is paid in full. After payout, Surge will retain a 25% working interest in the property. Surge has the right to increase its investment in the property to 10 wells on the payment of an additional $364,000. Surge also has received an area of mutual interest on surrounding acreage and a security interest in the property until the lease is paid in full. The 40 acre property is projected to have reserves of 133,000 barrels of oil and gas equivalents from 10 wells and Surge's 25% share is projected to equal 33,000 gross barrels of reserves.
On November 5, 2009, the Board of Directors of Surge Global Energy Inc. amended subsections (b) and (c) of 'Section 3.5 Meetings' of the Corporation's By-Laws. Section 3.5(b) now reads Section 3.5(b) Regular meetings of the Corporation will be held monthly on the second Thursday of each month. The Chairman or the President shall serve each Board member, personally by mail or email, a written notice of the meeting, accompanied by an agenda and time of the meeting, at least three business days in advance of each meeting, addressed to each Board member at the address or email address that appears in the records of the Corporation. Section 3.5(c) is amended to special Meetings of the Corporation Special meetings of the Board may be called by the Chairman or the President at their discretion, or upon request to the Chairman or the President by any three or more members of the Board. On November 5, 2009, the Company elected Charles Sage as Chairman of the Board to replace Barry Nussbaum. Mr. Nussbaum continues to serve on the company's Board of Directors. Messrs. Sage and Nussbaum have served as directors of the Company since 2008.
Surge Global Energy, Inc. financial resources
SRGG Competitors
| Company | Last | Change |
| Bronco Energy Ltd | C$0.27 CAD | +0.005 |
| MegaWest Energy Corp | $0.14 USD | 0.00 |
| Southern Pacific Resource Corp | C$0.95 CAD | -0.01 |
| Market data is delayed at least 15 minutes. | ||
Industry Analysis
| Valuation | SRGG | Industry Range |
| Price/Earnings | -- | Not Meaningful |
| Price/Sales | -- | Not Meaningful |
| Price/Book | -- | Not Meaningful |
| Price/Cash Flow | -- | Not Meaningful |
| TEV/Sales | -- | Not Meaningful |
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SRGG |
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SRGG transactions
| Type Date |
Target |
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Private Placement
January 19, 2010 |
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Merger/Acquisition
December 8, 2009 |
40 Acre Lease in Pawnee County |
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Merger/Acquisition
October 20, 2009 |
11 Good Energy, Inc. |
More Recent Financial News About Surge Global Energy, Inc.
SURGE GLOBAL ENERGY, INC. Files SEC form 8-K, Entry into a Material Definitive Agreement, Financial Statements and Ex
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Surge Global Energy Announces Acquisition of Pawnee County, Oklahoma Property
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SURGE GLOBAL ENERGY, INC. Files SEC form 8-K, Entry into a Material Definitive Agreement, Regulation FD Disclosure
Read article
Surge Global Energy Announces Acquisition of Pawnee County, Oklahoma Property
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SURGE GLOBAL ENERGY, INC. Files SEC form 10-Q, Quarterly Report
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SURGE GLOBAL ENERGY, INC. Files SEC form 8-K, Other Events
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SURGE GLOBAL ENERGY, INC. Files SEC form 10-Q, Quarterly Report
Read article
SURGE GLOBAL ENERGY, INC. Files SEC form 8-K, Entry into a Material Definitive Agreement, Financial Statements and Ex
Read article
SURGE GLOBAL ENERGY, INC. Files SEC form 10-Q, Quarterly Report
Read article