SURGE ENERGY INC. - CONFIRMS NOVEMBER 2022 DIVIDEND

CALGARY, AB - Surge Energy Inc. ('Surge' or the 'Company') (TSX: SGY) confirms that a cash dividend to be paid on November 15, 2022, in respect of October 2022 production, for the shareholders of record on October 31, 2022 will be $0.035 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.

Neither the TSX nor its Regulation Services Provider (as that term is defined in the policies of the TSX) accepts responsibility for the adequacy or accuracy of this release.

Contact:

Paul Colborne

President & CEO

Surge Energy Inc.

Phone: [phone]

Fax: [phone]

Email: [e-mail]

Jared Ducs

CFO

Surge Energy Inc.

Phone: [phone]

Fax: [phone]

Email: [e-mail]

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