SAN DIEGO, Feb. 21, 2007 (PRIME NEWSWIRE) -- Surge Global Energy, Inc. (OTCBB:SRGG) is pleased to announce that an amendment to the Company's Certificate of Incorporation to increase its authorized shares to 210,000,000 shares of capital stock was approved at the Proxy Meeting held on February 19, 2007. The increase in authorized shares provides sufficient common stock for the pending Peace Oil transaction. There is no assurance that our efforts to complete the Peace Oil financing will be successful.
About Surge Global Energy, Inc.
Surge Global Energy, Inc., located in San Diego, California is on a quest to aggregate and exploit one billion barrels (net equity and working interest) of net recoverable reserves in large size properties in the Peace River and Athabasca regions of Alberta, Canada. For more information on the company please visit http://www.SurgeGlobalEnergy.com.
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Forward-Looking Statement
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Such forward-looking statements include the statements regarding the Company's expectations, hopes or intentions regarding the future, including, but not limited to, general economic conditions, market and business conditions; potential production and industry capacity and estimates. Forward-looking statements involve certain risks and uncertainties, and actual results may differ materially from those discussed in any such statement. Those risks and uncertainties include the possibility Signet will not determine it is feasible to drill all 10 wells at Sawn Lake in Alberta, Canada or that if Signet does drill, it will not discover oil or gas in the quantities the Company currently anticipates. Other risks and uncertainties of the Company's business could cause actual results to differ and are discussed under the heading "Risk Factors" and in other sections of the Company's SB-2/A filed with the SEC on May 24, 2006, the Company's Form 10-K for the 2005 fiscal year and in the Company's other periodic reports filed from time to time with the SEC. All forward-looking statements in this document are made as of the date hereof, based on information available to the Company as of the date hereof, and the Company assumes no obligation to update any forward-looking statements.