Is worth a look, it makes Surge the most undervalued Canadian oil company:
Google: "Surge Energy Inc. Announces Significant Increase in 2012 Year-End Reserves, Resumption of Drilling Operations in the Southern Pool Area of Valhalla and Management Update"
46 MMboe 2P Reserves
SGY.TO trades for only $10/boe of 2P RESERVES
Surge's Net Asset Value (NAV) is estimated at $8.21 per basic share based on Net Present Value discounted at 10 percent Before Tax ("NPV10 BT") Proved plus Probable (2P) reserves at December 31, 2012.
Surge's Net Asset Value (NAV) is estimated at $5.29 per basic share based on NPV10 BT Proved (1P) reserves at December 31, 2012.
Valhalla IP-30 = 1570 boepd. This is one of the highest IP-30 rates in North America. This is IP-30, this is not a simple 24 hours IP. Surge's land in Valhalla is top notch quality and these results prove it again.