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Gear Energy Ltd T.GXE

Alternate Symbol(s):  GENGF

Energy Oil & Gas E&P
Gear Energy Ltd. is an oil-focused exploration and production company. The Company carries on the business of acquiring, developing and holding interests in petroleum and natural gas properties and assets. Its operations are located in three core areas: Lloydminster Heavy Oil, Central Alberta Light/Medium Oil and Southeast Saskatchewan. The Company is also engaged in focused on improving oil recoveries through the application of water flood technology. The key properties in the Central Alberta Light asset include Wilson Creek, Ferrier, Killam, Drayton Valley, and Chigwell.


TSX:GXE - Post by User

Gear Energy Ltd > Great news for Gear - no acquisition, time to buyback!
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Comment by pierrelebelon Feb 06, 2024 10:10am
115 Views
Post# 35865125

RE:Great news for Gear - no acquisition, time to buyback!

RE:Great news for Gear - no acquisition, time to buyback!
Great News?

Think again.

"the Company expects to provide additional details of the NCIB in its press release... which is expected to be issued on or about February 21, 2024."

There is not enough money coming in to cover both a dividend and share buyvack. At that time I expect Gear will announce the suspension of the dividend and use the money allocated to the dividend to buyback shares. TNT.UN did the same a few months ago.
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