Surge Energy +3.2% after buying 20% block of Longview Oil shares

|About: Surge Energy, Inc. (ZPTAF)|By:, SA News Editor

Surge Energy (ZPTAF +3.2%) says it has acquired ownership and control of 19.8% of Longview Oil (LGVWF +5.8%) from Advantage Oil & Gas (AAV +2.7%)at $4.45/share.

Surge intends to obtain a "large, strategic equity position" in Longview, at a competitive cost base, and to pursue a mutually beneficial business combination with Longview.

Surge says it has completed significant due diligence in relation to Longview assets, also initiating extensive, detailed financial modelling of a possible business combination between the companies.