Average Price Target: C$1.06
▲ +62.64% Upside Potential
This price target is based on 7 analysts offering 12 month price targets for Surge Energy in the last 3 months. The average price target is C$1.06, with a high forecast of C$1.30 and a low forecast of C$0.85. The average price target represents a 62.64% upside from the last price of C$0.65.
The current consensus among 7 contributing investment analysts is to hold stock in Surge Energy. This rating has held steady since March 2021, when it changed from a Buy consensus rating.
Surge Energy Inc. explores for, develops, and produces oil and gas in western Canada. The company holds interest in the Greater Sawn Lake assets located in Northern Alberta; Valhalla/Wembley property located in northwestern Alberta; Sparky assets located between Provost and Wainwright in eastern Alberta and western Saskatchewan; and Shaunavon properties located to the southwest of Swift Current, Saskatchewan. It holds an average working interest of approximately 83% in approximately 109,941 net developed acres and approximately 92% in approximately 152,344 net undeveloped acres in Greater Sawn area; approximately 70% in approximately 16,032 net developed acres and approximately 74% in approximately 8,208 net undeveloped acres in Valhalla area; and approximately 76% in approximately 80,213 net developed acres and 96% in approximately 58,598 net undeveloped acres in Sparky area; and approximately 61% in approximately 88,178 net developed acres and approximately 39% in approximately 10,483 net undeveloped acres in Edmonton and other minor areas. As of December 31, 2020, it held interests in 316 net oil and 13 net gas wells in Greater Sawn area; 56 net oil and 4 net gas wells in Valhalla area; 466 net oil and 10 net gas wells in Sparky area; 176 net oil wells, as well as an average working interest of approximately 100% in approximately 23,409 net developed acres and 13,698 net undeveloped acres in the Shaunavon properties; and 28 net oil wells and 7 net gas wells in Edmonton and other minor areas. The company was formerly known as Zapata Energy Corporation and changed its name to Surge Energy Inc. in June 2010. Surge Energy Inc. was incorporated in 1998 and is headquartered in Calgary, Canada.