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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 Quintessential1on Apr 23, 2024 9:30am
123 Views
Post# 36003007

RE:Kathy Turgeon

RE:Kathy Turgeon I agree.  I always enjoyed the updates at Peyto and still do even with their more muted tone.

For me it seems like it is the least they can do as a junior to keep shareholders's informed of the quick swings in operations that can happen on a small scale.  It also seems like an inopportune time to do it just when oil is making gains, the spread is narrowing, production is increasing and FFO should be lowering debt just like the current monthly report shows and future monthly reports should show.  If you were going to stop reporting monthly then entering the shoulder season would have seemed like a good time to do it not exiting it.

I guess we will just have to do it quarterly moving forward and hope that this signals the new CEO's intention to navigate GXE out of the junior ranks.  It seems a little premature though. ;-)

GLTA 


MagicPinstripes wrote:

Interesting to see that the Board of Directors is bringing in a familiar name from Peyto. Kathy Turgeon rejoins Don Gray, also formerly of Peyto, on Gear's board.

Too bad about Gear's monthly updates though. They were something that Don Gray did back he was Peyto's CEO. As a Peyto shareholder, I'd look forward to them every month just to see what's new and current in the business. Also liked former Peyto CEO Darren Gee's updates as they were always animated. Compared to those two, Ingram's monthly updates were never quite as jovial.

Maybe not what you'd want the CEO to focus on, but I always felt that it was a good way to reach out and honour shareholders. The other way is to make good business decisions that increase the stock price! Hopefully Kevin Johnson can use the extra time to get things in 'gear' again.

GLTA

 



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