Surge Energy Inc. Confirms May 2015 Dividend

Surge Energy, Inc. news release with annotations

CALGARY, May 15, 2015 /CNW/ - Surge Energy Inc. ("Surge" or the "Company") (TSX: SGY) confirms that a cash dividend to be paid on June 15, 2015 in respect of May 2015 production, for the shareholders of record on May 31, 2015 will be $0.025 per share. 

The dividend is an eligible dividend for the purposes of the Income Tax Act (Canada).

Surge Energy Inc. is an oil-weighted production and development company with high quality, large oil in place, crude oil reservoirs.  Management is focused on delivering to its shareholders solid per share organic growth, sustainable monthly dividends, and further growth through accretive acquisitions of additional elite oil reservoirs.

Neither the TSX nor its Regulation Services Provider (as that term is defined in the policies of the TSX) accepts responsibility for the adequacy or accuracy of this release.

SOURCE Surge Energy Inc.

For further information: Paul Colborne, President & CEO, Surge Energy Inc., Phone: (403) 930-1507, Fax: (403) 930-1011, Email: [email protected]; Max Lof, CFO, Surge Energy Inc., Phone: (403) 930-1021, Fax: (403) 930-1011, Email: [email protected]

An eligible dividend is designated by Surge Energy Inc. as such in formal writing. Eligible dividends are subject to a dividend gross-up of 38% and a federal dividend tax credit equal to 20.73% of the actual dividend. While ineligible dividends are subject to an 18% dividend gross-up and a federal dividend tax credit equal to 13% of the actual dividend.