Mr. Paul Colborne reports

SURGE ENERGY INC. CONFIRMS MAY 2023 DIVIDEND

A cash dividend to be paid on May 15, 2023, in respect of April, 2023, production, for Surge Energy Inc. shareholders of record on April 30, 2023, will be four 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.