SEDAR Interim Financial Statements

[
  {
    "companyName": "Surge Energy Inc.",
    "reportingPeriodEnd": "2025-09-30",
    "reportStatus": "Unaudited",
    "auditorName": null,
    "auditorKeyMatters": [],
    "balanceSheet": {
      "cash": 20494,
      "accountsReceivable": 52305,
      "fairValueOfFinancialContractsCurrent": 5387,
      "prepaidExpensesAndDeposits": 4572,
      "totalCurrentAssets": 82758,
      "fairValueOfFinancialContractsNonCurrent": 237,
      "propertyPlantAndEquipment": 1204144,
      "deferredIncomeTaxes": 70569,
      "totalNonCurrentAssets": 1274950,
      "totalAssets": 1357708,
      "accountsPayableAndAccruedLiabilities": 72373,
      "dividendsPayable": 4289,
      "fairValueOfFinancialContractsCurrentLiabilities": 36,
      "currentPortionOfTermDebt": 2381,
      "currentPortionOfLeaseAndOtherObligations": 5339,
      "currentPortionOfDecommissioningObligations": 10000,
      "totalCurrentLiabilities": 94418,
      "seniorUnsecuredNotes": 171526,
      "termDebt": 3491,
      "convertibleDebentures": 40704,
      "decommissioningObligations": 286030,
      "leaseAndOtherObligations": 18644,
      "totalNonCurrentLiabilities": 520395,
      "totalLiabilities": 614813,
      "shareCapital": 1742938,
      "equityComponentOfConvertibleDebentures": 6375,
      "contributedSurplus": 109535,
      "deficit": -1115953,
      "totalEquity": 742895,
      "cashPerShare": 0.2061,
      "workingCapitalPerShare": -0.1172
    },
    "incomeStatement": {
      "threeMonthsEndedSep302025": {
        "petroleumAndNaturalGasRevenue": 143301,
        "processingIncome": 1905,
        "royalties": -25212,
        "unrealizedGainLossOnFinancialContracts": -9492,
        "realizedGainLossOnFinancialContracts": 3701,
        "revenue": 114203,
        "operating": 40340,
        "transportation": 2045,
        "generalAndAdministrative": 5344,
        "stockBasedCompensation": 1789,
        "depletionAndDepreciation": 45992,
        "impairment": null,
        "financeExpense": 9375,
        "gainLossOnDisposals": null,
        "transactionAndOtherCosts": 198,
        "totalExpenses": 105083,
        "incomeLossBeforeIncomeTaxes": 9120,
        "deferredIncomeTaxExpenseRecovery": 1921,
        "netIncomeLossAndComprehensiveIncomeLoss": 7199,
        "basicEarningsPerShare": 0.07,
        "dilutedEarningsPerShare": 0.07
      },
      "nineMonthsEndedSep302025": {
        "petroleumAndNaturalGasRevenue": 445238,
        "processingIncome": 5967,
        "royalties": -77808,
        "unrealizedGainLossOnFinancialContracts": 3924,
        "realizedGainLossOnFinancialContracts": 11194,
        "revenue": 388515,
        "operating": 120909,
        "transportation": 6658,
        "generalAndAdministrative": 16539,
        "stockBasedCompensation": 6938,
        "depletionAndDepreciation": 143662,
        "impairment": null,
        "financeExpense": 32383,
        "gainLossOnDisposals": -312,
        "transactionAndOtherCosts": 349,
        "totalExpenses": 327126,
        "incomeLossBeforeIncomeTaxes": 61389,
        "deferredIncomeTaxExpenseRecovery": 14037,
        "netIncomeLossAndComprehensiveIncomeLoss": 47352,
        "basicEarningsPerShare": 0.48,
        "dilutedEarningsPerShare": 0.47
      }
    },
    "cashFlowStatement": {
      "threeMonthsEndedSep302025": {
        "netIncomeLoss": 7199,
        "gainLossOnDisposals": null,
        "unrealizedGainLossOnFinancialContracts": 9492,
        "financeExpense": 9375,
        "interestExpense": -5916,
        "depletionAndDepreciation": 45992,
        "impairment": null,
        "decommissioningExpenditures": -4025,
        "transactionAndOtherCosts": 124,
        "stockBasedCompensation": 1789,
        "deferredIncomeTaxExpenseRecovery": 1921,
        "changeInNonCashWorkingCapital": 441,
        "cashFlowFromOperatingActivities": 66392,
        "bankDebt": null,
        "seniorUnsecuredNotes": null,
        "termDebt": null,
        "dividendsPaid": -12878,
        "purchaseOfCommonSharesForCancellation": -545,
        "paymentsOnLeaseAndOtherObligations": -1391,
        "cashSettledStockBasedCompensation": null,
        "cashFlowUsedInFinancingActivities": -14814,
        "expendituresOnPropertyPlantAndEquipment": -32805,
        "proceedsFromDispositions": null,
        "expendituresOnAcquisitions": -5677,
        "changeInNonCashWorkingCapitalInvesting": -1036,
        "cashFlowUsedInInvestingActivities": -39518,
        "changeInCash": 12060,
        "cashBeginningOfPeriod": 8434,
        "cashEndOfPeriod": 20494
      },
      "nineMonthsEndedSep302025": {
        "netIncomeLoss": 47352,
        "gainLossOnDisposals": -312,
        "unrealizedGainLossOnFinancialContracts": -3924,
        "financeExpense": 32383,
        "interestExpense": -17572,
        "depletionAndDepreciation": 143662,
        "impairment": null,
        "decommissioningExpenditures": -9636,
        "transactionAndOtherCosts": 436,
        "stockBasedCompensation": 6938,
        "deferredIncomeTaxExpenseRecovery": 14037,
        "changeInNonCashWorkingCapital": -7158,
        "cashFlowFromOperatingActivities": 206206,
        "bankDebt": null,
        "seniorUnsecuredNotes": null,
        "termDebt": -715,
        "dividendsPaid": -38790,
        "purchaseOfCommonSharesForCancellation": -7915,
        "paymentsOnLeaseAndOtherObligations": -3907,
        "cashSettledStockBasedCompensation": -6940,
        "cashFlowUsedInFinancingActivities": -58267,
        "expendituresOnPropertyPlantAndEquipment": -118034,
        "proceedsFromDispositions": 116,
        "expendituresOnAcquisitions": -5777,
        "changeInNonCashWorkingCapitalInvesting": -11344,
        "cashFlowUsedInInvestingActivities": -135039,
        "changeInCash": 12900,
        "cashBeginningOfPeriod": 7594,
        "cashEndOfPeriod": 20494
      }
    },
    "investmentsAndOtherAssets": [
      {
        "type": "Mineral/Resource Properties",
        "description": "Property, plant and equipment (oil and gas properties)",
        "ownershipPercentage": null,
        "value": 1204144,
        "notes": "Carrying amount as per note 4. Includes future development costs for proved plus probable reserves."
      }
    ],
    "shareStructure": {
      "authorizedShares": null,
      "issuedShares": 98984057,
      "classesOfShares": ["Common Shares"],
      "warrants": [],
      "options": [],
      "rightsConvertibleInstruments": "48,300 convertible debentures outstanding, with a fair value of $50.8 million. Convertible into common shares at a conversion price not specified."
    },
    "managementCompensation": {
      "currency": "CAD",
      "periods": {
        "threeMonthsEndedSep302025": {
          "stockBasedCompensation": 1789
        },
        "nineMonthsEndedSep302025": {
          "stockBasedCompensation": 6938
        }
      },
      "namedIndividuals": [],
      "otherRelatedPartyTransactions": []
    },
    "subsequentEvents": [
      {
        "eventDate": "2025-10-31",
        "description": "Dividend of $0.043333 per share declared for the month of October 2025, totaling $4.3 million.",
        "impactValue": 4300
      }
    ]
  }
]