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 > Initiation of a strategic repositioning process

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Comment by Maxmoeon Nov 21, 2023 12:18pm

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Post# 35746648

RE:RE:RE:RE:Initiation of a strategic repositioning process

lovehockey wrote: I have no idea. All I know is that buyback fixes all of the problems short/medium term.

Couldn't hurt. Do the debt covenants prohibit even a small buyback I wonder? I don't believe so. Meanwhile, gear is stuck in neutral. I'll buy a little more here. "Strategic process" is fancy bod talk for we got a stinky bid for the company which forces us to evaluate the bid and go through a process that clearly proves the bid is highly opportunistic, way too low, not in the best longterm interest of shareholders and gee whiz, we might lose our jobs otherwise.

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Ivanhoe Mines initiates Phase 3 concentrator construction