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Surge Global Energy Welcomes Two Experienced Investment Bankers and Financial Advisors to Its Board of Directors

Posted on: Tuesday, 7 February 2006, 12:00 CST

New Board Members Bring Extensive Expertise in Financing Oil & Gas Projects and Investment Banking for Small Cap Companies

Surge Global Energy, Inc. (OTC BB:SRGG), an oil and gas exploitation and development company, today announced that William P. Nicoletti, Managing Director of Nicoletti & Company, and John D. Lane, Managing Partner of Lane Capital Markets, have joined the company's Board of Directors. Mr. Nicoletti has extensive experience in financing and overseeing public oil & gas operations and Mr. Lane is an accomplished investment banker for small cap companies.

"We are very pleased to welcome to Surge's board of directors Bill and John who are both seasoned executives with vast experience and well-deserved reputations for excellence in the investment banking and oil & gas industries," said David Perez, Chairman and Chief Executive Officer of Surge Global Energy. "I look forward to working with Bill and John to bring Surge Global Energy to the next level."

William P. Nicoletti is Managing Director of Nicoletti & Company Inc., a firm providing investment banking and financial advisory services to corporate clients. Mr. Nicoletti has been involved in oil and gas and other related business for over 35 years.

Mr. Nicoletti was formerly a senior officer and head of Energy Investment Banking for PaineWebber Incorporated and E. F. Hutton & Company Inc. He is currently Non-Executive Chairman of the Board of Star Gas Partners, L.P., the nation's largest retail distributor of home heating oil; is a director of MarkWest Energy Partners, L.P., engaged in the gathering, processing and transportation of natural gas and the fractionation of natural gas liquids; and is a director of SPI Petroleum, LLC., the parent of Simons Petroleum, a major independent distributor of diesel fuel, gasoline and lubricants to the trucking and oil field markets.

John D. Lane entered the securities industry in May 1969 with a bank-trading firm in New Jersey. He formed Lane Capital Markets, LLC. in 2001 as an Investment Banking Partnership focused on transactions for the healthcare industry. Mr. Lane has pulled from years of networking within the industry addressing problems and issues in the small cap arena. Mr. Lane has managed/co-managed over 45 transactions and has participated in hundreds selling groups since the early 1990's. Prior to forming Lane Capital Markets, he held the position of Managing Director of Capital Markets at a New York based online firm.

Mr. Lane was appointed, in January 2003, to serve on a newly created NASD committee designed to provide input to NASD staff on investigations of disciplinary matters involving emerging regulatory issues, standards of practices, or new practices, or market and securities industry issues where industry expertise would be of value.

"Surge Global Energy is taking the necessary steps to strengthen its position and thus add to shareholder value. I look forward to working with the Board and Surge's management team to help build an even stronger company," said Mr. Lane.

About Surge Global Energy, Inc.

Surge Global Energy, Inc. global headquarters are located in San Diego, California and its subsidiary Signet Energy, Inc, offices are located in Calgary, Canada. Lead by a strong management team of industry veterans in the heavy oil and gas exploitation, the company is now positioned through its subsidiary to develop oil sands leases in the Sawn Lake area of Alberta, Canada (Western Canadian Sedimentary Basin). Surge also holds a working interest in the Santa Rosa Dome project in Mendoza province of Argentina. For more information on the company please visit www.SurgeGlobalEnergy.com.

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. The factors that could cause our actual results to differ materially are the are discussed under the heading "Risk Factors" and in other sections of the Company's SB-2 filed with the SEC on December 30, 2005, the Company's Form 10-K for the 2004 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.

Source: Business Wire

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