Our Energy Indicator finished 2011 above 200 per cent, meaning there are still more than two stocks in the sector with key insider buying for every one with selling. Exploration and production stocks are leading insider sentiment higher. A stock within the group with buying is Surge Energy Inc. a light oil producer in Western Canada and North Dakota.
Board chairman Paul Colborne spent a net $638,959 purchasing Surge stock during the past 90 days. In addition, in October, vice-president of corporate development Malcolm Adams bought 10,000 shares between $7.27 and $7.78.
Ted Dixon is CEO of INK Research, which provides insider news and knowledge to investors. For more background on insider reporting in Canada, visit the FAQ section at www.inkresearch.com. Securities referenced in this profile may have already appeared in recent reports distributed to INK subscribers. INK staff may also hold a position in profiled securities.