Attached files
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| EX-99.1 - PRESS RELEASE - Surge Global Energy, Inc. | srgg_ex9901.htm |
UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
DC 20549
FORM
8-K
CURRENT
REPORT
Pursuant
to Section 13 OR 15(d) of the Securities Exchange Act of 1934
|
Date
of Report (Date of earliest event reported)
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December
14, 2009 (as of December 8,
2009)
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SURGE
GLOBAL ENERGY, INC.
(Exact
name of registrant as specified in its charter)
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Delaware
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000-24269
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34-1454529
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(State
or other jurisdiction of incorporation
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(Commission
File Number)
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(IRS
Employer Identification No.)
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990
Highland Drive, Suite 206
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Solana
Beach, CA
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92075
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(Address
of principal executive offices)
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(Zip
Code)
|
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Registrant's
telephone number, including area code
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(858)
720-9900
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Not
applicable.
(Former
name or former address, if changed since last report)
Check the
appropriate box below if the Form 8-K filing is intended to simultaneously
satisfy the filing obligation of the under any of the following
provisions:
£ Written
communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)
£ Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
£
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act
(17 CFR 240.14d-2(b)
£
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act
(17 CFR 240.13e-4(c))
Item
1.01 Entry into a Material Definitive Agreement.
Surge
Global Energy, Inc. (“Surge”) is engaged in the acquisition of crude oil and
natural gas properties in the United States and Canada. Surge also seeks
investment in developing oil and natural gas projects and companies engaged in
alternative fuel technologies. In this respect, on December 8, 2009,
acquired a 75% working interest (until payout) in four, and up to ten, existing
oil and gas wells which had been drilled, and were producing previously, on a
40-acre lease in Pawnee County, Oklahoma for $300,000 under a purchase and
equipment lease agreement with Mandalay Energy Resources, LLC. The terms of the
agreement provide for the funds to be paid directly to Cavu Resources, Inc.
under a turnkey contract to be used for rework and new equipment on the four oil
and gas wells. The rework and equipment costs will be repaid to Surge in monthly
installments of 75% of net income received from the oil and gas purchaser each
month up to a total of $40,000 per month until a total of $354,000 is paid in
full. After payout, Surge will retain a 25% working interest in the
property. Surge has the right to increase its investment in the
property to 10 wells on the payment of an additional $364,000. Surge also has
received an area of mutual interest on surrounding acreage and a security
interest in the property until the lease is paid in full. The 40 acre property
is projected to have reserves of 133,000 barrels of oil and gas equivalents from
10 wells and Surge’s 25% share is projected to equal 33,000 gross barrels of
reserves.
Surge
will use existing cash on hand and may also sell additional common shares to
finance this acquisition.
No
exhibits are being filed with the SEC as these contracts are in the ordinary
course of Surge’s business.
Item
2.01 Completion of Acquisition or Disposition of Assets
See Item
1.01 above.
On
December 14, 2009, the Company issued a press release announcing that on
December 8, 2009, it acquired a 75% working interest (until payout) in four, and
up to ten, existing oil and gas wells which had been drilled, and were producing
previously, on a 40-acre lease in Pawnee County, Oklahoma for $300,000 under a
purchase and equipment lease agreement with Mandalay Energy Resources, LLC. A
copy of the press release is attached as Exhibit 99.1 hereto.
Item
9.01 Financial Statements and Exhibits.
Exhibit
99.1 Press
release dated December 14, 2009
Pursuant
to the requirements of the Securities Exchange Act of 1934, the Registrant has
duly caused this report to be signed on its behalf by the undersigned hereunto
duly authorized.
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SURGE
GLOBAL ENERGY, INC.,
a Delaware
corporation
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Date:
December 14, 2009
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By:
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/s/ E. Jamie Schloss | |
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E.
Jamie Schloss, Chief Executive Officer
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