BRIEF-Surge buys light oil assets in Saskatchewan for $109 mln, raises upward guidance for 2014

Jan 13 (Reuters) - Surge Energy Inc SGY.TO :

* Announces $109 million se Saskatchewan light oil acquisition, upward revision

to 2014 guidance, $70 million equity financing, and four percent increase in

dividend

* Will be increasing the company's annual dividend four percent from $0.52 per

share per year

* Assets include an estimated annualized 1,250 boepd (97 percent oil) of high

netback light crude oil production.

* Says has entered into a $70 million bought deal financing

* Says as a result of the acquisition, Surge will be revising upward the

company's 2014 guidance

* Now sees 2014 average production 16,125 boe/d

* Now sees 2014 exit production 16,550 boe/d

* Source text for Eikon News Search ID:nCCN57Srdx

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