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Slide #30. Surge Energy Inc. — Longview Oil Corp.
Surge Energy Inc. (TSE:SGY.CA)
Longview Oil Corp. (LNV.CA)
Surge Energy Inc. (TSX: SGY) ("Surge" or the "Company") and Longview Oil Corp. (TSX: LNV) ("Longview") are pleased to announce today that they have entered into an arrangement agreement, pursuant to which Surge has agreed to acquire all of the issued and outstanding common shares of Longview by way of a plan of arrangement transaction. The proposed transaction results in the formation of an elite, intermediate, light and medium oil focused, dividend paying, growth company. The combined asset base will be strategically focused in the Williston Basin and Central Alberta with significant complimentary reserves, production, land and operations. The proposed transaction is accretive to Surge on all metrics, and adds concentrated reserves, production, land, and operations that are contiguous with Surge's existing core areas.
Surge Energy is an oil and natural gas company engaged in the exploration, development and production of petroleum and natural gas reserves in Western Canada. As of Dec 31 2010, Co.'s total net proved reserves for light and medium crude oil, heavy crude oil, natural gas liquids and natural gas were 3,760,100 barrels, 2,418,200 barrels, 570,900 barrels and 31,031,000,000 cubic feet, respectively.
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