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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 Roscoe747on Jul 15, 2022 7:01pm
143 Views
Post# 34828288

RE:RE:RE:RE:RE:TAX pool of 668 millions...

RE:RE:RE:RE:RE:TAX pool of 668 millions...I certainly do not mean to imply any wrongdoing or dishonesty to management, I'm simply stating that management needs to align itself with shareholder interests in regard to returning cash to shareholders. This position is counter intuitive to management's primary function of growing the company.

Oil and gas extraction is perceived to be a sunset industry by some entities. While it may be a long way till sunset, proactive exit strategy requires the extraction of proven reserves rather than investment in what may become stranded assets.

I am advocating for a cautious approach to growth and a more dedicated return of cash to shareholders. I have no interest in five year plans to extract expensive oil funded by the cash flow from extracting inexpensive oil.


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