RE:NEWSGXE-t has net debt of just $43M. Net debt forecasted to decrease to $15M (@$63 WTI) by end of 2021. Share price of $1 whould be within reach based on this report IMO.
"Gear is forecasting material future reductions in its bank debt through 2021 as forecasted FFO exceeds planned capital expenditures. Using forward market pricing as of May 4 th, 2021 (full year 2021 WTI of US$63 per barrel, WCS diff of US$12.50 per barrel, MSW and LSB diff of US$4.50 per barrel, FX of US$0.81 per C$, and AECO of $2.80 per GJ) and inclusive of 2021 existing hedges, Gear is forecasting the following:
Q2 2021Q3 2021Q4 2021FY 2021 Forecasted FFO ($ million) 13 16 15 52 Forecasted Net debt ($ million)32 28 15 15 Forecasted Net debt to FFO 0.6 0.4 0.3 0.3
In the event that markets continue to strengthen through 2021, Gear anticipates further potential expansions in strategic value creation opportunities throughout its diversified portfolio.
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With the release of this quarter, Gear has successfully accomplished the goal of providing an exceptionally strong balance sheet. With net debt being reduced by 47 per cent from a year ago, Gear now has material optionality to once again focus on providing shareholder returns in the most efficient and low risk ways possible."
"Gear is forecasting material future reductions in its bank debt through 2021 as forecasted FFO exceeds planned capital expenditures. Using forward market pricing as of May 4 th, 2021 (full year 2021 WTI of US$63 per barrel, WCS diff of US$12.50 per barrel, MSW and LSB diff of US$4.50 per barrel, FX of US$0.81 per C$, and AECO of $2.80 per GJ) and inclusive of 2021 existing hedges, Gear is forecasting the following:
Q2 2021Q3 2021Q4 2021FY 2021 Forecasted FFO ($ million) 13 16 15 52 Forecasted Net debt ($ million)32 28 15 15 Forecasted Net debt to FFO 0.6 0.4 0.3 0.3
In the event that markets continue to strengthen through 2021, Gear anticipates further potential expansions in strategic value creation opportunities throughout its diversified portfolio."