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Gear Energy Ltd T.GXE

Alternate Symbol(s):  GENGF

Gear Energy Ltd. is a Canadian exploration and production company with heavy and light oil production in Central Alberta, West Central Saskatchewan and Southeast Saskatchewan. The Company carries on the business of acquiring, developing and holding interests in petroleum and natural gas properties and assets. Its properties include Celtic/Paradise Hill, Saskatchewan; Wildmere Area, Alberta; Wilson Creek, Alberta, and Tableland, Saskatchewan. The Celtic/Paradise Hill is located within Township 52, and Ranges 23 and 24 W3 and is approximately 40 kilometers northeast of Lloydminster, Alberta. The Wildmere field is located within Townships 47, 48 and 49, and Ranges 3, 4, 5 and 6W4, is approximately 200 kilometers southeast of Edmonton, Alberta. The property consists of approximately 24,325 gross (23,000 net) acres of lands. The Tableland property development is predominately focused on the Three Forks/Torquay formation, with minor production from the Bakken and Ratcliffe formations.


TSX:GXE - Post by User

Comment by AlexPKeaton89on Apr 01, 2021 11:20pm
189 Views
Post# 32928610

RE:OPEC+ done , Nuttal pop soon... $60 oil sweetspot for GXE!

RE:OPEC+ done , Nuttal pop soon... $60 oil sweetspot for GXE!
Totally agree. AliNaimi You just have to look at what happened to CJ when he made it a top pick. CJ is a lot more liquid than GXE and it got a sustainable 25-30% pop on the top pick announcement. GXE traded 53M shares in March. That's 1.7M shares a day - most of those shares traded after the announcement of the debentures converting to shares in mid March. I'm sure Nuttall got a piece of that. but probably wants more. For a company that generally averages under 400K daily shares traded, it looks coiled for a big pop even before a Nuttall pick. At some point the sellers are going to be done and the shares will be in fresh holders looking on a good return from 50c, With oil poised to trade between $60-65 in the coming weeks, Gear is now positioned with very little debt and has the opportunity to exit 2021 debt free. This makes it both a target and/or an acquirer and if neither - one of the few E&P companies who can start buying back shares very soon or even throw off a dividend to it's investors even while aggressively getting back to drilling. Add being currently severly undervalued, I can't think of a better name to own for this next leg up.
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