Surge Energy Inc. recently closed its $430-million acquisition of Longview Oil. Following the deal, Surge expects to exit 2014 producing 21,350 barrels of oil equivalent daily with an 84-per-cent weighting to oil and liquids and a reserve life index of more than 15 years. It caught our eye that CEO Paul Colborne bought 100,000 shares on June 17 as the stock traded near 52-week highs. Surge Energy is in the top 10 per cent of all stocks ranked by INK on the basis of valuations, insiders and price strength.
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.
Infographic reflects public-market transactions of common shares or unit trusts by company officers and directors.