Mr. Paul Colborne reports

SURGE ENERGY INC. CONFIRMS DECEMBER 2022 DIVIDEND

Surge Energy Inc. has confirmed that a cash dividend to be paid on Dec. 15, 2022, in respect of November, 2022 production, for the shareholders of record on Nov. 30, 2022, will be 3.5 cents per share.

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

Surge is an intermediate, publicly traded oil company focused on enhancing shareholder returns through free cash flow generation. The company's defined operating strategy is based on acquiring and developing high-quality, conventional oil reservoirs using proven technology to enhance ultimate oil recoveries.