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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 lovehockeyon Nov 02, 2023 12:32pm
125 Views
Post# 35713858

RE:RE:No one selling

RE:RE:No one selling

There are no buyers and there are no sellers at these prices. The reason why is because GXE SP is completely disconnected from the market and fundamentals. I have seen the same thing before with my darling Athabasca Oil. In 2020 ATH share price was idling around 11 cents per share (I must mention it went on for around 4 months) and the daily volume on TSX was superlow hitting only 12000 shares one day. This is not really about the price itself but more about healthy volume and fluctuations. Imagine oil was jumping up and down $4-5 but ATH stock would still be sitting with bid of $0.10 and ask of $0.11. 

Gear is facing a similar situation. Fluctuations and volumes are gone. The reason is clear - no buyers and no sellers are willing to take a risk when the situation is unknown.  

 

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