Gear Energy Ltd T.GXE

Alternate Symbol(s): GENGF

Energy Oil & Gas E&P

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.

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Gear Energy Ltd > I think, i will sold too

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Comment by Roscoe747on Jun 08, 2022 6:35pm

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Post# 34741940

RE:RE:I think, i will sold too

The counter party in this arrangement is Brevet Energy, a private company that rejuvenates old fields. Brevet is unlikely to have the financial capacity or the operational capability to satisfy the AER that they can complete the required rehabilitation.

While Brevet may specialize in this type of activity, they may have to transfer smaller portions of the field and rehab them to satisfy the AER. Or, a JV with Gear to complete extraction enhancements and retire the assets in good order with Gear retaining the assets (and reclamation liability) until completion.

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