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.

TSX:GXE - Post by User

Gear Energy Ltd > CJ acquisition metrics

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Post by tylerreddickon Oct 03, 2023 6:16pm

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Post# 35667930

CJ acquisition metrics

purchase price of approximately $25.0 million.
expected to contribute approximately 900 boe/d of production
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So GXE's 5600 or so boe/d would be worth about $155 million, minus $15 million of debt, so $140 million. Divide that by 260 million shares, and you get 54 cents.

Yeah, buying GXE at double that price is really, really smart.

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