Mr. Paul Colborne reports

SURGE ENERGY INC. CONFIRMS MARCH 2023 DIVIDEND

Surge Energy Inc. has confirmed that a cash dividend to be paid on March 15, 2023, in respect of February, 2023, production, for the shareholders of record on Feb. 28, 2023, will be four cents per share.

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

About Surge Energy Inc.

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.