Is Surge Energy, Inc. SGY stock Halal to invest in?

Yes, as of September 2026, Surge Energy, Inc. stock (SGY) is classified as a Shariah compliant stock. This verdict follows the screening methodology of AAOIFI (the Accounting and Auditing Organization for Islamic Financial Institutions), whose Shariah Standard No. 21 is the leading global benchmark for screening Halal stocks. Surge Energy, Inc. currently passes all four AAOIFI financial screens: non-permissible income remains below 5% of total revenue, interest-bearing investments and interest-bearing debt each remain below 30% of market capitalisation, and the company has no impermissible preference share structure. The stock's current purification factor is 99.61%. Compliance is reassessed every month as updated screening data arrives, and a stock's status can change when new financial reports are released. You can always check the current status of Surge Energy, Inc. and explore other Shariah compliant stocks in the Tabadulat app.

How often is Surge Energy, Inc. SGY reviewed for Shariah compliance?

Tabadulat reviews Surge Energy, Inc. SGY for Shariah compliance every month. Each review applies the AAOIFI Shariah Standard No. 21 methodology, screening the company's business activities, non-permissible income, interest-bearing investments, interest-bearing debt, and preference shares, against the company's latest available financial data. The process operates under the direct supervision of Tabadulat's dedicated Shariah Supervisory Board of Islamic finance scholars. Because compliance depends on financial ratios that move with market capitalisation and reported results, a stock's status can change from one review to the next. Monthly screening ensures the status shown for Surge Energy, Inc. reflects current financial data rather than an outdated assessment, and Tabadulat app users are notified if a holding in their portfolio becomes non-compliant.

Does Surge Energy, Inc. SGY pass the AAOIFI Non Permissible Income criteria?

Yes, as of September 2026, Surge Energy, Inc. stock (SGY) passes the AAOIFI non-permissible income screen. In practice this screen asks a simple question: how much of the company's revenue comes from sources Islam prohibits, such as Riba, conventional financial services, alcohol, gambling or tobacco? AAOIFI allows at most 5%, and Surge Energy, Inc. stays below that line this month. Even permissible levels of incidental impure income should still be purified: investors donate the corresponding share of dividends to charity, as reflected in the stock's purification factor. This screen is reassessed monthly using the company's latest financial disclosures.

Does Surge Energy, Inc. SGY pass the AAOIFI Interest Bearing Investments criteria?

Yes, as of September 2026, Surge Energy, Inc. stock (SGY) passes the AAOIFI interest-bearing investments screen. This screen looks at where the company parks its cash: conventional deposits, bonds, treasury bills and money-market funds all earn Riba, so AAOIFI caps them at 30% of market capitalisation. Surge Energy, Inc. stays inside that cap in the latest screening. Because the ratio is measured against market capitalisation, it can move with the share price as well as the balance sheet, which is why Tabadulat rescreens the stock every month.

Does Surge Energy, Inc. SGY pass the AAOIFI Interest Bearing Debt criteria?

Yes, as of September 2026, Surge Energy, Inc. stock (SGY) passes the AAOIFI interest-bearing debt screen. Under AAOIFI Shariah Standard No. 21, a company's borrowings that accrue interest (conventional bank loans, bonds and similar Riba-based financing) must remain below 30% of its market capitalisation. This cap limits shareholders' exposure to interest-based leverage. Surge Energy, Inc.'s interest-bearing debt is currently within the 30% threshold. Because market capitalisation changes daily, a company's debt ratio can drift toward or away from the limit even without new borrowing, which is why this screen is reassessed every month.

What is the dividend purification factor for Surge Energy, Inc. SGY stock?

The dividend purification factor for Surge Energy, Inc. (SGY) stands at 99.61% in the September 2026 screening. In plain terms, 99.61% of a SGY dividend is retained, and the remainder reflects incidental non-permissible income, typically interest on corporate cash, which Halal investors donate to charity (Tazkiyah). AAOIFI methodology asks for purification even on fully compliant stocks. The factor is recalculated with each monthly screening as new financial data arrives, and the Tabadulat app can help you calculate and track purification across your whole portfolio.

Does Surge Energy, Inc. SGY pass the AAOIFI Preference Share screen?

Yes, as of September 2026, Surge Energy, Inc. stock (SGY) passes the AAOIFI preference share screen. AAOIFI Shariah Standard No. 21 prohibits investing in preference shares because they grant holders guaranteed or priority rights to dividends and capital ahead of ordinary shareholders, a structure that conflicts with the Shariah principle that investors should share profit and loss in proportion to their ownership. Surge Energy, Inc. has no impermissible preference share structure affecting its ordinary shares, so the stock is compliant on this criterion. Like all AAOIFI screens, this is verified in each monthly review.

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Is Surge Energy (SGY) stock Halal?

TSX

Shariah-Compliant

Not Shariah

Surge Energy, Inc. (SGY) is Shariah compliant in the September 2026 AAOIFI screening, passing all four AAOIFI screens. Dividends are purified using a factor of 99.61%. Tabadulat re-screens SGY monthly, and the status can change when new financial data arrives.

Sector:

Energy

Industry:

Oil & Gas E&P

Employees:

Website:

https://www.surgeenergy.ca

Market cap:

CA$1.1B

P/E ratio:

25.7

Dividend yield:

4.53%

52-week range:

CA$6.42 - CA$11.38

Data as of:

3 September 2026

Screening history:

September 2026: PASS

Surge Energy is an oil and gas exploration and production company primarily focused on the acquisition and development of energy resources in Canada. Headquartered in Calgary, Alberta, the company is known for operating in prolific hydrocarbon basins, leveraging its expertise in extracting crude oil and natural gas liquids efficiently. Surge Energy emphasizes maintaining a robust portfolio of assets that are strategically located, achieving operational efficiency and sustainable production growth. Before any of that matters to a Muslim investor, one question comes first: is Surge Energy stock Halal?

Is Surge Energy Shariah compliant?

For a resources company like Surge Energy, AAOIFI Shariah Standard No. 21 has little quarrel with the product; the scrutiny falls on the financing. Heavy machinery and long project cycles are usually funded with debt, and the standard tolerates interest bearing borrowing only below 30% of market capitalisation.

Does Surge Energy pass the business activity test?

Yes. In the September 2026 screening Surge Energy holds an overall PASS, which a stock only earns when its core business clears the activity screen. The activity itself, extracting and selling resources, raises no Shariah objection; the scrutiny belongs to the financing.

Is Surge Energy's income Halal?

Yes, within AAOIFI's tolerance. Surge Energy's income from non-permissible sources stays below 5% of revenue in the September 2026 screening, and the small impure portion is handled through purification: the factor of 99.61% tells holders of SGY what share of each dividend to keep and what remainder to donate to charity.

Does Surge Energy meet AAOIFI's debt and investment ratio requirements?

Yes. Both caps hold this month: interest bearing investments and interest bearing debt each stay below 30% of market capitalisation. Because the caps move with the share price, our Shariah Supervisory Board has SGY re-screened every month, and the result above always shows the latest verdict.

Tabadulat is an ADGM regulated brokerage whose license covers Shari'a Compliant Regulated Activities, as the FSRA permission names them. New to the terminology? Gharar and Maysir, Sukuk, Zakat and purification are all explained in plain English.

New to the four screens? Read AAOIFI Standards Explained: What Makes a Stock Halal?

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